JPMorgan asset management division faces layoffs


JPMorgan Chase & Co. is laying off about 100 employees.

According to multiple media outlets, the New York-based bank is making the cuts within its asset-management division. The move comes as JPMorgan (NYSE: JPM) makes staffing adjustments amid market shifts.

The decision to eliminate positions in the company's asset-management division came after a business review, according to one report.

The cuts are also global and range across several businesses within the group, according to Bloomberg News,…

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