JPMorgan Chase to lay off nearly a thousand more workers than before First Republic BankAn entity that the US authorities had to intervene at the end of April, and whose assets were bought on May 1 by the largest US bank.
Downsizing, which will affect approximately 15% of the workforce in the year 2000, 7,000 employees The district bank would be notified this Thursday.
A spokesperson for the organization confirmed to the BBC business interruptionHe added that although he declined to confirm the number of those affected, those affected would receive salaries and benefits equivalent to 60 days along with a severance package.
“Since we bought the First Republic, 1 May, We have been transparent with your employees and have delivered on our promise to update their employment status. 30 days“A JP Morgan spokesperson said.
Given the difficulties the organization is going through, at the end of April, Tensions affecting US regional banksFirst Republic Bank had announced a downsizing that would have meant leaving about 25% of its workforce.
On May 1, US regulators announced that they had purchased the assets of First Republic bank following JPMorgan’s intervention and shutdown. “protect depositors”, including 84 offices of the regional bank.
This week, First Citizens Bank Stocks It was only two months after the acquisition of the failed California bank that it was the first victim of the turmoil that rocked regional banking in the United States in March that nearly 500 former employees of Silicon Valley Bank (SVB) gave up.
First Citizens Bank on March 27 Federal Deposit Insurance Corporation (FDIC) To buy the assets of Silicon Valley Bridge Bank, the bridge enterprise created after the collapse of the SVB, at a discount of $16,500 million (€15,035 million).