JPMorgan to hire 2,000 engineers despite worsening economy

JPMorgan Chase CIO said the banking firm would hire about 2,000 engineers worldwide through the end of the year despite a worsening economy, Reuters news report said.
computer science engineers
The roles will be across the bank, including in general software engineering, data science, cybersecurity and cloud computing, among other areas, JPMorgan Chase global chief information officer Lori Beer said on Wednesday.

The biggest U.S. lender added a net more than 5,000 software developers and data scientists last year and aims to attract a couple thousand more at a time when technology giants have stopped hiring or are cutting jobs. Tech workers comprise about 20 percent of the bank’s roughly 278,000-strong global workforce.

JPMorgan — at its investor day in May — announced plans to spend $14.1 billion on technology this year. JPMorgan executives outlined some initiatives, such as personalization for its mobile app, improving payments offerings for e-commerce, and modernizing infrastructure.

JPMorgan has also organized a three-day event in Texas to attract engineers to its growing team. Lori Beer and Sandhya Sridharan, head of core engineering and JPMorgan’s development platform, alongside technology leaders from the bank’s major divisions, welcomed a group that consisted mainly of vice presidents and associates who write the code that underpins JPMorgan systems.

JPMorgan recently announced the acquisition of Renovite, a payments technology company based in Fremont, California. This acquisition of Renovite complements JPMorgan’s strategic investment in Viva Wallet and the partnership with Volkswagen Financial Services.

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