The job cuts, first reported by Bloomberg, will see “a portion” of roles move to India where the bank already houses roughly 12,000 tech employees. And despite cutting 200 US lending employees last year, the bank has now told around 650 of its US tech workers to relocate to “a bigger market” in order to keep their jobs.
The changes to leadership, first reported by the Wall Street Journal, will see CEO Charles Scharf split the bank’s three existing business units into five in a bid “to provide leaders with clear authority, accountability, and responsibility”, the company has said.
