JPMorgan announces layoffs for First Republic Bank employees, around 1,000 staffers lose jobs
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JPMorgan Chase informed about 1,000 First Republic Bank employees on Thursday that they will no longer have jobs, according to CNN Business. JPMorgan acquired most of First Republic's assets earlier this month after the San Francisco-based regional bank was seized by the government, according to CNN Business. It marked the second-biggest bank failure in US history.