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JPMorgan Chase's Strategic Shift: Embracing AI While Cutting Jobs and Halting Hiring
In a remarkable display of corporate strategy amid soaring profits, JPMorgan Chase is radically restructuring its workforce policies, driven largely by the transformative power of artificial intelligence (AI) and automation. Despite reporting impressive financial gains—its third-quarter profits reaching $14.39 billion, a 12% increase year-over-year—the banking giant is taking aggressive steps to reduce its operational staff by at least 10% over the next five years and has issued a directive to minimize new hires at all costs.