Despite the layoffs across the finance industry, there were no signs of a staffing pullback in JPMorgan Chase & Co’s or Bank of America Corp.’s fourth-quarter results.
JPMorgan’s headcount rose 2% to 293,723 from 288,474 last quarter, the company said in its earnings release Friday. This is up 8% from 271,025 a year earlier.
Overall headcount at Bank of America jumped to 216,823 in the quarter, topping the year-earlier figure of 208,248 and the 213,270 from the prior quarter.
Wells Fargo & Co’s headcount dropped to 238,698 in its last quarter, according to its fourth-quarter results. That’s a drop from 249,435 a year earlier and even slightly smaller than the prior quarter’s 239,209.
Bank of America added more than 3,500 to staffing levels in the last year. Personnel costs were still roughly unchanged at $9 billion. At Wells Fargo, which shed almost 11,000 jobs in the last year, personnel costs also were about the same, at $8.4 billion.
This article was provided by Bloomberg News.