NEW YORK CITY (dpa-AFX) - The Wall Street Journal reported that J.P. Morgan Chase & Co.'s (JPM) private bank announced internally another round of layoffs affecting nearly 100 employees.
The unit shared the news within the bank Monday. The moves, which affect employees in a range of positions and locations, follow previous rounds of layoffs across the country in recent months, the report said citing people familiar with matter.
Every year the division reviews its employee ranks and culls underperformers. The private bank, which has around 12,000 people, continues to actively hire, the Journal reported.
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