JPMorgan Chase & Co JPM reportedly plans a new round of job cuts in Asia.
In a new round of downsizing, JPMorgan cut around 20 investment banking jobs in Asia, reported Reuters, citing a source.
JPMorgan Chase joins its global peers in reducing headcount as dealmaking slows, added the report.
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JPMorgan told the impacted bankers on Tuesday, the majority of whom are at junior levels ranging from analysts to executive directors, stated the report.
The layoffs are JPMorgan's second wave in Asia this year; in the first quarter, the report mentioned that the bank slashed 20 investment banking roles, largely mid-level bankers working on China deals.
Price Action: JPM shares are trading higher by 0.16% at $142.76 premarket on Wednesday.
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