JPMorgan is set to cut hundreds jobs as part of a periodic review of its asset management business, according to Bloomberg. Employees in support roles and some wealth management staff will be among those being let go. “It is normal course of business for us to review our staffing annually to ensure appropriate levels, and adjust as necessary,” Darin Oduyoye, a spokesman for the New York-based bank, said in a statement to Bloomberg.
JPMorgan is slashing roles as part of a shake-up in its asset management business.
The New York-based bank is set to cut hundreds of support and other roles in its wealth management unit as part of a periodic review of its staffing, according to Bloomberg.
JPMorgan employed 24,000 people in asset management