Happy New Year 2025

Tag: chase

  • JPMorgan Chase reportedly to start rounds of layoffs

    JPMorgan Chase reportedly to start rounds of layoffs

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    JPMorgan Chase reportedly has several rounds of layoffs coming this year, and some workers at the company have apparently started being told they will lose their jobs. 

    Barron’s reported Wednesday that some JPMorgan Chase employees learned from supervisors last week that their jobs would be impacted by layoffs. The outlet cited unnamed sources “familiar with the matter.” 

    Layoffs at the bank this month will affect less than 1,000 workers, according to the report.

    The JPMorgan Chase logo is seen outside its headquarters in Manhattan on May 26, 2023. (Michael M. Santiago / Getty Images)

    More layoffs are on the horizon at JPMorgan Chase, with the company looking at other rounds in March, May, June, August and September, Barron’s reported.

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    JPMorgan Chase told FOX Business that it “regularly review[s] our business needs and adjust[s] our staff accordingly — creating new roles where we see the need or reducing positions when appropriate.”

    “Our strategy has not changed, and we run the company to invest through the cycle. We continue to hire in many areas and work hard to redeploy impacted employees,” the company added. “This is part of our regular management of the business and impacts a very small number of employees.” 

    Ticker Security Last Change Change %
    JPM JPMORGAN CHASE & CO. 275.45 +0.30 +0.11%

    Coming into 2025, JPMorgan’s workforce totaled over 317,000. 

    “In the last year, we added more than 7,000 jobs and currently have about 14,000 open positions,” JPMorgan Chase told FOX Business. 

    JPMORGAN SETTING UP A ‘WAR ROOM’ TO KEEP UP WITH TRUMP’S POLICY CHANGES

    The company does business in asset and wealth management, commercial banking, consumer and community banking, corporate and investment banking, and technology, according to its website. The upcoming job cuts will not hit every unit each time, Barron’s reported.

    jpmorgan chase main entrance

    The main entrance to the JPMorgan Chase building in Manhattan is seen on March 21, 2023. (Erik McGregor/LightRocket via / Getty Images)

    In mid-January, JPMorgan reported managed revenue of nearly $43.74 billion for the fourth quarter. Its quarterly net income came in at $14 billion, marking a 50% jump year-over-year. 

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    It had $4 trillion in assets and $345 billion in stockholders’ equity at the end of 2024, according to the company.

  • Trump pardons former DC police officers convicted in deadly chase

    Trump pardons former DC police officers convicted in deadly chase

    Two police officers convicted in the death of a man riding a moped in Washington, D.C., have received pardons from President Donald Trump, the White House announced Wednesday. 

    Former Metropolitan Police Department (MPD) Lt. Andrew Zabavsky, 56, who was convicted of conspiracy and obstruction of justice, was sentenced in September in the 2020 death of Karon Hylton-Brown. Another former MPD officer, Terence Sutton Jr., 40, was also convicted and sentenced in the case. 

    In a statement, the White House said Trump granted Zabavsky and Sutton full and unconditional pardons. 

    On Tuesday, the DC Police Union said it was working with the Trump administration to ensure pardons for Zabavsky and Sutton. That same day, Trump said he approved pardons for both men. 

    TRUMP PARDONS NEARLY ALL JAN. 6 DEFENDANTS ON INAUGURATION DAY

    President Donald Trump speaks in the Roosevelt Room of the White House Tuesday in Washington. On Wednesday, Trump pardoned two former Washington, D.C., police officers convicted in the death of a man killed during a deadly chase.  (AP Photo/Julia Demaree Nikhinson)

    “I just approved it,” Trump said during a press conference. “They arrested the two officers to put them in jail for going after a criminal.”

    In a statement Tuesday, the union said both men were wrongly convicted and maliciously prosecuted. 

    DOJ’S ‘EXCESSIVE’ TREATMENT OF JAN. 6 RIOTERS ‘UNDERMINED’ THE PROSECUTIONS, TURLEY SAYS AFTER PARDONS

    “These officers — men of integrity and dedication — were targeted by corrupt prosecutors who weaponized the legal system against them,” the union said. 

    Sutton was convicted and sentenced to 66 months in prison for Hylton-Brown’s death, while Zabavsky was sentenced to a 48-month prison term. 

    Karon Hylton-Brown

    Karon Hylton-Brown, 20, died during a police chase while riding a moped, authorities said. Two former Washington, D.C., police officers were found guilty for their roles in his death. President Donald Trump pardoned them. (WTTG)

    Hylton-Brown was riding a moped without a helmet on a sidewalk Oct. 23, 2020, when Sutton tried to pull him over in an unmarked car, authorities said. A chase ensued, reaching speeds of more than double the speed limit on residential streets, the Justice Department said. 

    Hylton-Brown was eventually struck by a vehicle in an alley during the pursuit. He sustained severe head trauma and died two days later. The pursuit appeared to violate the Metropolitan Police Department’s policy prohibiting chases.

    High-speed chases are barred over minor traffic offenses. 

    A Washington D.C., police vehicle

    District of Columbia police show an almost constant presence at the intersection of 5th St NW and Kennedy St NW, where police initiated a chase that led to the death of Karon Hylton, 20. He was killed in a collision with a car while riding a rented moped in Washington, D.C., Oct. 23, 2020.   (Jahi Chikwendiu/The Washington Post via Getty Images)

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    Prosecutors alleged both officers conspired to hide the events that led to Hylton’s death, such as failing to tell superior officers about the seriousness of his injuries. 

    Prosecutors also claimed the officers deactivated their body cameras minutes after the collision and failed to take statements from witnesses.