JPMorgan Chase aims to hire 2,000 tech workers during rest of 2022 - report

Sep. 30, 2022 7:59 AM ETJPMorgan Chase & Co. (JPM)By: Liz Kiesche, SA News Editor1 Comment

U.S. Banks Post Near-Record Profits In Second Quarter Of 2014

Andrew Burton

JPMorgan Chase (NYSE:JPM) is planning to hire 2,000 engineers globally through year-end even as the economy softens, the bank's global chief information officer, Lori Beer, told Reuters.

The company hired more than 5,000 software developers and data scientists last year and plans to add more at a time when some technology giants and fintechs are hitting the brakes on investment. At JPMorgan (JPM), about 20% of the bank's ~278K workforce is tech workers, Reuters said. The new hires will be in general software engineering, data science, cybersecurity, cloud computing, and other areas.

"We're definitely still hiring," Beer told Reuters. And the bank's size and focus on technology should help attract talent as it represents "a safe place through the uncertain economic times... When you're going into a tough economic time and things are very volatile, it does play into our favor," she said.

The bank's CEO and CFO had talked about the company's plan to invest in technology during the company's Q4 earnings call in January. "There’s fintech competition, there’s PayPal competition, there’s direct competition, it’s a lot of competition, and we intend to win. And sometimes you spend a few bucks," said CEO Jamie Dimon in January.

Earlier this week, Reuters reported that the largest U.S. lender is seeking to double the workforce at its digital U.K. consumer bank despite losses at the fledgling business.

In March, Dimon came faced investor criticism for not providing enough detail on its technology spending plans.

Recommended For You

Comments (1)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.