First Republic hit with 1,000 job cuts after California bank was seized and sold to JPMorganabcnews.go.com/Business/wireStory/jpmorgan-cuts-1000-former-republic-workers-99630412
NEW YORK -- About 1,000 employees of First Republic Bank are being let go about a month after it was seized by regulators and acquired by JP Morgan Chase.
The vast majority of First Republic employees, roughly 7,200 before it ran into trouble, were offered jobs by JPMorgan, meaning that about 15% of the bank's employees laid off.
When First Republic failed and was bought by…
This story appeared on abcnews.go.com, 2023-05-26.