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JPMorgan Chase, the American banking giant, has begun notifying employees of imminent job cuts as part of a broader downsizing strategy projected to extend through 2025.

JPMorgan and Meta: Job Cuts and Strategy

JPMorgan and Meta navigate job cuts amid strategic shifts

JPMorgan Chase, the American banking giant, has begun notifying employees of imminent job cuts as part of a broader downsizing strategy projected to extend through 2025.

JPMorgan Chase Initiates Workforce Reductions
JPMorgan Chase, the American banking giant, has begun notifying employees of imminent job cuts as part of a broader downsizing strategy projected to extend through 2025. According to sources cited by Barron's, managers at the bank have started delivering the news to affected staff.
Initial layoffs, impacting fewer than 1,000 employees, are expected to occur in February. Further reductions are anticipated in mid-March, May, June, August, and September.
A spokesperson for JPMorgan Chase, in an emailed statement to Reuters, explained, "We regularly review our business needs and adjust our staffing accordingly.
We continue to hire in many areas and work hard to redeploy impacted employees. This is part of our regular management of the business and impacts a very small number of employees."
The bank reported a workforce of 317,233 at the close of 2024, with the anticipated layoffs representing approximately 0.3% of total employees.
Despite the cuts, the operating environment for banks has improved significantly, with JPMorgan achieving its highest-ever annual profit in 2024, reinforcing its status as the largest U.S. lender by assets.
Meta's Ongoing Workforce Adjustments
In a related development within the tech sector, Meta has announced plans for additional company-wide layoffs. Simultaneously, the company is accelerating the recruitment of machine learning engineers, reflecting a strategic focus on their growing importance.
According to an internal memo reported by Reuters, job losses will start at 5 a.m. local time in many countries, including the United States. However, employees in Germany, France, Italy, and the Netherlands will be exempt due to local regulations. Notifications in over a dozen other countries across Europe, Asia, and Africa are scheduled between February 11 and February 18.
Both JPMorgan Chase and Meta illustrate the evolving landscape of organizational strategy, balancing workforce reductions with targeted growth initiatives in critical areas.

JP Morgan's inclusion of Indian government bonds in its emerging markets index has attracted significant global investment, with expectations of continued inflows, highlighting India's strong economic growth and bond performance

JPMorgan bond index to add Indian bonds from today; up to $25 billion inflow expected in next 10 months

<h2>JP Morgan's inclusion of Indian government bonds in its emerging markets index has attracted significant global investment, with expectations of continued inflows, highlighting India's strong economic growth and bond performance</h2>

JPMorgan Chase &amp; Co is officially set to include Indian government bonds to its emerging markets index from today, thus opening $1.3 trillion market to global investors.&nbsp;
As per Bloomberg, global funds have already poured close to $11 billion into index-eligible bonds since JPMorgan&rsquo;s announcement in September. Meanwhile, the news agency quoted JPMorgan and said that it expects $20 billion to $25 billion to come in over the next 10 months, raising foreign ownership to 4.4% from 2.5% currently.
&ldquo;Upon inclusion, India will have the single highest duration across the index, with an above average yield-to-maturity,&rdquo; JPMorgan strategists led by Michael Harrison wrote in a note this week.
<h3>India bond inclusion</h3>
Data compiled by Bloomberg showed that both sovereign and corporate notes are headed for a sixth straight quarter of foreign inflows, a streak last seen 11 years ago. India's debt has become a favorite among emerging market investors, attracted to the nation&rsquo;s robust economic growth and a stable currency, which comes courtesy of the central bank.
&ldquo;Most of the flows we&rsquo;re seeing are driven by investors who are tracking the index and should be fairly sticky,&rdquo; Vikas Jain, head of India fixed income, currencies and commodities trading at Bank of America Corp told Bloomberg. &ldquo;Declining debt-to-GDP ratio, stable macros and favorable demand-supply for India&rsquo;s bonds are positive factors.&rdquo;
As per JPMorgan, India's sovereign debt has outperformed its index counterparts over the past decade and the bonds offer access to a high-growth, high-yield market for global investors. Meanwhile, Indian government debt is Asia's top performing so far this year, returning 5.3% compared to a 1.3% gain in Indonesian local currency bonds, according to data compiled by Bloomberg.&nbsp;
The report further mentioned that within the Fully Accessible Route bonds eligible for index inclusion, 28 securities worth more than $400 billion will give India a 10% share in the index at peak.
Also watch: <a href="https://www.editorji.com/business-news/indian-bonds-jp-morgan-will-add-government-bonds-to-its-emerging-market-index-1695362124719">Indian Bonds: JP Morgan will add government bonds to its emerging-market index</a>

JPMorgan aims to increase its India headcount by 5%-7% annually, adding to its current 55,000 employees. Expansion includes new offices in Bengaluru and Mumbai, and refurbishing existing offices

JPMorgan to increase workforce in India by 5-7% over next few years: Report

<h2>JPMorgan aims to increase its India headcount by 5%-7% annually, adding to its current 55,000 employees. Expansion includes new offices in Bengaluru and Mumbai, and refurbishing existing offices</h2>

JPMorgan Chase plans to grow its headcount in India by 5%-7% annually over the next few years, Reuters reported quoting a Senior Executive. This comes as the bank doubles down in one of the hottest markets globally for talent to support international operations.
<h3>JPMorgan hiring plans</h3>
JPMorgan employs about a fifth of its global workforce, across five Indian cities. Currently, the total headcount in India is about 55,000 people. In India employees are hired across functions ranging from technology and human resources to operations and compliance.
"The way I would put it is that there is demand. For senior levels and for deep skills, there is competition, which is healthy," Deepak Mangla, CEO of JPMorgan's corporate centers in India and the Philippines told Reuters.
However the 5-7% hiring rate is less than the 8%-10% that was seen over the past few years. Reuters quoted CEO of JPMorgan's corporate centers in India and the Philippines Deepak Mangla and said that the bank is planning to build two new offices in the Indian tech hub of Bengaluru and the country's financial capital of Mumbai as part of its expansion plans. It will also refurbish its offices in Noida and Pune over the next four years while consolidating the footprint in existing office spaces in Bengaluru, Mumbai and Hyderabad.
<h3>Talent hunt in India</h3>
JPMorgan's peers including Bank of America and Goldman Sachs are also expanding in India via global capability centres. As per consulting firm ASNR, the expansion is expected to more than double in market size to $110 billion by 2030.&nbsp;
Also watch: <a href="https://www.editorji.com/business-news/jpmorgan-chase-s-jamie-dimon-reveals-morning-routine-up-at-4-30-read-5-papers-1717055388676">JPMorgan Chase's Jamie Dimon reveals morning routine: 'Up at 4:30, read 5 papers'</a>

JP Morgan CEO Jamie Dimon revealed at the firm's investor day about the active succession planning and noted the decision lies with the board, despite still having high energy

JP Morgan 

JP Morgan "well on the way" with succession plans, says CEO Jamie Dimon hinting at retirement

<h2>JP Morgan CEO Jamie Dimon revealed at the firm's investor day about the active succession planning and noted the decision lies with the board, despite still having high energy</h2>

The only answer JP Morgan's CEO Jamie Dimon had everytime he was asked about retirement was 'its five years away'. However, on Monday during the firm's investor day, Dimon told shareholders the timetable is &ldquo;not five years anymore," &nbsp;in response to a question about how long he planned to remain CEO. The largest US bank is &ldquo;well on the way" with its succession plans, he said.
<h3>JP Morgan succession plans</h3>
As per Bloomberg, earlier this year &mdash; about halfway through Dimon&rsquo;s five-year retention package &mdash; the 68-year-old CEO moved some of his top lieutenants into new senior roles, positioning them for more experience running the firm&rsquo;s operations as he prepares potential successors.
The report further mentioned that the shuffle placed Jenn Piepszak and Troy Rohrbaugh atop an expanded commercial and investment bank while Marianne Lake, who had co-led the consumer and community bank alongside Piepszak since 2021, got sole control of the segment, overseeing more of its business lines.&nbsp;
On Monday Dimon said, that he still has the energy that he had always had and he should leave when he can't give the fullest. However he also added, &ldquo;It&rsquo;s up to the board &mdash; it&rsquo;s not up to me,".
On Monday, Dimon also tempered expectations from some analysts that the bank&rsquo;s excess capital might support increased share buybacks.
&ldquo;We&rsquo;re not going to buy back a lot of stock at these prices," he said, adding that the bank will be more aggressive about repurchases when its stock price declines. The shares, which closed at a record high last week, fell after his comments and ended the day 4.5% lower. They&rsquo;re still up 15% this year"
Also Watch: <a href="https://www.editorji.com/business-news/economy/jp-morgan-ceo-praises-pm-modi-for-doing-an-unbelievable-job-in-india-1713962121828">JP Morgan CEO praises PM Modi for doing an 'unbelievable' job in India</a>

While praising PM Modi for being tough to break traditional bureaucratic systems in the country, JP Morgan's CEO Jamie Dimon has criticised certain foreign governments that frequently criticize PM Modi on topics such as climate change and labor rights

JP Morgan CEO praises PM Modi for doing an 'unbelievable' job in India

<h2>While praising PM Modi for being tough to break traditional bureaucratic systems in the country, JP Morgan's CEO Jamie Dimon has criticised certain foreign governments that frequently criticize PM Modi on topics such as climate change and labor rights</h2>

JP Morgan Chase's head Jamie Dimon was all praises for Prime Minister Narendra Modi while speaking at an event organised by the Economic Club of New York. He noted that PM Modi is "tough" as he broke traditional bureaucratic systems in the country.
&ldquo;Modi has done an unbelievable job in India. I know the liberal press here, they beat the hell out of him. He&rsquo;s taken 400mn people out of poverty," Jamie Dimon&nbsp;
<h3>PM Modi praised</h3>
Jamie Dimon further added that a lot of US government officials are &ldquo;fantasizing... how we think they should be running their country&rdquo; while the Indian leader is facing challenges heads on. He praised the reforms undertaken &nbsp;by the PM Modi regime in the recent past.
"They've started this amazing trend where every citizen is recognized by hand, eyeball, or finger. They've opened bank accounts for 700 million people, and payments are being processed smoothly. Their education system and infrastructure are remarkable, lifting the entire country because of one just and tough man. But to break down bureaucracy, you have to be tough, and he's doing just that", he said.
He further went on the praise India's education system and infrastructure "unbelievable" while praising India's indirect tax regime. Jamie Dimon said that this indirect tax system removed corruption by elimination disparity in tax systems followed by different state.
He further criticised certain foreign governments that frequently criticize PM Modi on topics such as climate change and labor rights, despite the existence of millions in India lacking access to fundamental necessities like toilets.
"It's as if we're preaching about climate, labour, and how we believe their country should be run. He has 400 million people without toilets, yet we're telling him how to do things," Dimon said.
Also Watch: <a href="https://www.editorji.com/business-news/economy/moody-s-projects-over-6-gdp-growth-for-india-in-next-2-years-affirms-stable-rating-1712903689610">Moody's projects over 6% GDP growth for India in next 2 years, affirms stable rating</a>

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