JPMorgan AI job cuts: Jamie Dimon says AI has reduced jobs by 30% to 40% in some areas, and most of those staff were offered other roles

JPMorgan Chase chief executive Jamie Dimon says AI has already cut jobs by 30% to 40% in some parts of the bank, though most of the people affected were offered other jobs inside it. Asked about AI and efficiency on the bank's second-quarter earnings call on 14 July 2026, Dimon said: "We are preparing to make sure we can retrain our people, and we have had discrete areas where we did reduce jobs by 30% or 40%. And most of those people were offered jobs elsewhere." He said the bank expects AI to bring "huge efficiency in certain parts of the company", that it has almost 1,000 use cases with about 50 that matter most, across risk, fraud, marketing, hedging, prospecting, note-taking, idea generation and document reading, and that "it's kind of just starting". He added that the same tools will reach smaller competitors through vendors such as Fiserv and FIS. Separately, the head of JPMorgan's consumer bank has said she expects AI to shrink operations headcount by about 10%. Dimon named neither the areas nor a number of jobs, and most of the staff were redeployed rather than let go, so nothing here enters the AI layoffs tracker.