JPMORGAN Chase Tells Managers to ‘Resist’ Hiring, Do More With Less – ryan

JPMORGAN Chase’s Hiring Spree Over The past Five Years Finally Be Winding Down.

The Bank’s CFO on Monday Told Investors That Starting This Year, Less of Its $ 95 Billion in Annual Will Go Toward as the Bank Seeks to More With Less, Thanks in Part to AI.

“At the margin, we’re ascing People to resist heading count growth where Postible and Increase their Focus on Efficcyience,” CFO Jeremy Barnum at the Company’s Annual Presentation to Investors in New York City.

Barnum Said The Bank Will Continue to Hire Strategy in what he calmed “High -rtainty Areas,” Including Bankers, Advisors, and Branches.

“It is shouned Go with Saying that we’ll never compromise on safety and soundness and we’ll continue to hire and invest in the high- Certainy Areas where is a link adding employs and grown revenue,” Barnum Said.

Despite Economic Headwinds Brought on by Tariff Tourmoil, Barnum Told investors that America’s Biggest Bank by Asssets is on Track for 17% Rotce (A Measure of Returns for Shareholders) and Annual Spending of $ 95 Billion.

The comments echo remarks made by CEO JAMIE DIMON EARLIER THIS YEAR WAND WORKERS AT A Town Hall Meeting That “Your Friend” and Encoured.

JPMORGAN’S HEAD COUNT HAS GROWN BY MORE THAN 23% IN THE PAST FIVE YEARS. The Company Reported It Had More than 317,000 Employees at the End of 2024, up from 256,981 at the end of 2019.

Following Barnum’s Presentation, Marianne Lake, The Ceo of Consumer and Community Banking, took the Stage and Predict A 10% Head Count Reduction in Operations, A Division Focussed on Fraud, Statement and Payment Processing, and Account Services.

Lake, Who Said Advancements in he was Waled Enable a Reduced Workforce, Said 10% Was a Conservative Estimate.

“I WOULD Take the Over on this Project and Bet that we will deliver More,” She Said.

Artificial intelligence efficiency

Barnum Said that artificial intelligence would be key to cutting down redundancies.

“ITH’S ACTUALLY PRETY AMAZING, AND FROM WHAT CERTAIN OF MY COLLAAGESE TELL WITH ACTUALLY Trained Professional Computer Scientists, it actually saying quite a bit with their efficiency,” Barnum Said. “IT’S NOT JUST The amateurs who are helped by these tools. It’a amazing stuff and we have High hopes for the efficiency Gain.”

Firms Like Goldman Sachs Have Also Been Making Deep Investments in Their He Tech Stacks.

Improving efficiencies han ben a theme at the bank this year as dimon seeks to convince workers that return to their desks monday throughf Friday will, Including by boosting productivity.

In one slide shown to investors, the bank predicated a boost in producing in its home unit while Reducing Head Count.

The Comments Come As Wall Street Deals with an Erratic Market Tied to President Donald Trump’s Tariffs and Trade War Pronounsments. While that is buoyed equations trading volumes, it”s threatened bonus project for others in the financial industry and hurt investment Bankers and Those affected by the stalled dealmking landscape.

As of Monday, The Bank’s Stock Was Trading at About $ 267 per share, up about 37% over the past. LAST YEAR, The bank Earned A Record $ 58.5 Billion in Net Income.

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