JPMorgan Chase, the largest bank in the US with roughly 318,512 employees at the end of Q4 2025, is about to look very different. CEO Jamie Dimon confirmed in a Bloomberg Television interview that the firm plans to hire more artificial intelligence specialists while scaling back traditional banking roles in certain areas.
The net result, according to Dimon: fewer people working at JPMorgan within five years, even as the bank continues to expand globally. The transition, he says, will happen through redeployment and retraining rather than mass layoffs.
The AI pivot, in plain English
CFO Jeremy Barnum has indicated a potential 10% job reduction in operations driven by AI efficiencies, paired with hiring freezes in affected areas. The bank has already devised extensive plans to support displaced staff through internal mobility programs.
At the 2026 World Economic Forum in Davos, Dimon warned that AI’s rapid transformation might outpace society’s ability to adjust.
