The leadership team at a publicly traded multinational's asset management arm is trimming dozens of jobs this fall.
| Mary Callahan Erdoes|
CEO of Asset and Wealth Management
On Monday, J.P. Morgan Asset Management
with the New York State Department of Labor to lay off 52 workers in New York City at the end of September. According to the filing, it appears that JPMAM currently has 106 NYC employees.
"Restructuring" is listed in the filing as the reason for the "plant layoff."
The latest JPMAM layoff news follows word last March of a similar, larger layoff
across all of J.P. Morgan's asset and wealth management (AWM) division (which includes JPMAM). Meanwhile, last month AWM CEO Mary Callahan Erdoes confirmed
the impending retirement of JPMAM CEO Chris Willcox
and the promotion of George Gatch
to succeed Willcox.
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