Quotes displayed in real-time or delayed by at least 15 minutes. Market data provided by Factset. Powered and implemented by FactSet Digital Solutions. Legal Statement. Mutual Fund and ETF data provided by Refinitiv Lipper.
This material may not be published, broadcast, rewritten, or redistributed. ©2022 FOX News Network, LLC. All rights reserved. FAQ – New Privacy Policy
Check out what’s clicking on FoxBusiness.com
JPMorgan Chase & Co. is reportedly planning to add another 2,000 tech engineers to its payroll by the end of 2023 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)
"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."
META IMPLEMENTS A HIRING FREEZE
Tech analyst Pete Pachal discusses Snapchat and its plan to lay off 20% of its workforce as it prepares to launch an ad-supported subscription tier on ‘Mornings with Maria.’
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.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Beer told Reuters, "How do we bust the myth and help people understand the innovation that's happening here, the complex problems?"
Quotes displayed in real-time or delayed by at least 15 minutes. Market data provided by Factset. Powered and implemented by FactSet Digital Solutions. Legal Statement. Mutual Fund and ETF data provided by Refinitiv Lipper.
This material may not be published, broadcast, rewritten, or redistributed. ©2022 FOX News Network, LLC. All rights reserved. FAQ – New Privacy Policy
