- JPMorgan’s CFO Jeremy Barnum has urged leaders to freeze hiring…Thanks to AI.
- Expect a 10% cut in operations roles (In fraud, account services, and statement processing.), as confirmed by Consumer Banking Chief Marianne Lake.
- The bank appears to be aligning with CEO Jamie Dimon’s advice: “Attrition is your friend.”
What’s the news?
It was your usual annual investor day in New York, when JPMorgan’s CFO Jeremy Barnum dropped the bombshell of a news. (Kind of)
“At the margin, we’re asking people to resist head count growth where possible and increase their focus on efficiency,” Barnum said.
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