JPMorgan plans to hire 2,000 tech workers by year's end: report
The megabank is recruiting engineers despite the cooling global economy
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JPMorgan Chase & Co. is reportedly planning to add another 2,000 tech engineers to its payroll by the end of 2022 despite widespread concerns over the cooling global economy.
Lori Beer, the megabank's global chief information officer, told Reuters this week the firm is recruiting to fill a few thousand tech roles worldwide for positions in several areas, including data science and cybersecurity.
The main entrance at JPMorgan Chase headquarters in New York City April 19, 2022. (Erik McGregor/LightRocket via Getty Images / Getty Images)
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| JPM | JPMORGAN CHASE & CO. | 193.28 | -0.21 | -0.11% |
"We're definitely still hiring," Beer told the outlet in an interview, adding that the move signals JPMorgan is "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."
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About one-fifth of JPMorgan's 278,000 employees are tech workers.
The bank's ongoing efforts to build up its army of engineers comes as many tech giants, including Google and Facebook parent Meta, are freezing hiring or even trimming jobs as economies slow amid fears of a global recession.
The JP Morgan Chase & Co. headquarters at the JP Morgan Chase Tower on Park Avenue in Midtown Manhattan, N.Y. (Tim Clayton/Corbis via Getty Images / Getty Images)
Beer noted that competition for talent in the major technology hubs like Silicon Valley has cooled slightly, and JPMorgan aims to use that to its advantage to attract talent in an industry where workers are often drawn to tech firms with major perks rather than banks.
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Beer told Reuters, "How do we bust the myth and help people understand the innovation that's happening here, the complex problems?"