JPMorgan to cut 1,000 First Republic employees
- JP Morgan Chase is cutting around 1,000 roles, or 15%, of First Republic Bank's workforce following its acquisition of the bank earlier this month.
- The affected employees will receive pay and benefits for 60 days, along with a package which includes a lump sum payment and other benefits.
- First Citizens, which bought the US unit of another troubled lender, is also expected to cut around 500 roles held by former Silicon Valley Bank workers.
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Leaning Left5Leaning Right5Center10Last Updated11 months agoBias Distribution50% Center