JPMorgan Chase is trying to use AI to cut down its headcount. Related: JPMorgan Says Its AI Cash Flow Software Cut Human Work By Almost 90%Lake, who runs Chase Bank and its credit card business, said that 10% was a modest estimate — the bank would most likely "deliver more" in headcount reductions. JPMorgan's headcount has grown in recent years, swelling over 20% from 255,350 employees in 2020 to over 317,000 in 2024. Related: JPMorgan Chase CEO Jamie Dimon Isn't Worried About AI Taking Over Jobs — Here's WhyWho will take over as JPMorgan CEO? Petno started as an investment banker at JPMorgan before eventually becoming the CEO of commercial banking from 2012 to 2024.