JPMorgan's Dimon Says AI Will Cut Jobs Through Attrition, Hiring More Specialists
Updated
Updated · Bloomberg · May 21
JPMorgan's Dimon Says AI Will Cut Jobs Through Attrition, Hiring More Specialists
9 articles · Updated · Bloomberg · May 21
Jamie Dimon said AI will probably shrink JPMorgan’s workforce over time, but he expects the change to be absorbed mainly through attrition rather than broad layoffs.
JPMorgan would likely shift its hiring mix instead—adding more AI specialists while bringing in fewer traditional bankers as automation spreads across finance roles.
Dimon’s stance was notably less severe than recent warnings from peers including Goldman Sachs, HSBC and Standard Chartered about AI’s effect on banking jobs.
Standard Chartered CEO Bill Winters is already facing scrutiny in Hong Kong and Singapore after regulators sought clarity on his remarks about “lower-value human capital.”
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