JPMorgan to cut 250 jobs in PHL with Aumni closure

J.P. Morgan will discontinue the global operations of its investment analytics arm, Aumni, impacting some 250 employees in the Philippines.

The decision comes over two years after J.P. Morgan acquired Aumni, which provides intelligence analytics to the venture capital industry.

A spokesperson stated that J.P. Morgan regularly reviews its products and client offerings, leading to the decision to discontinue Aumni's services globally, including in the US, UK, India, and the Philippines.

Impacted Aumni employees in the Philippines represent about 1% of J.P. Morgan's 25,000-strong workforce in the country.

Despite the discontinuation, J.P. Morgan affirms its continued commitment to the Philippines as a critical global operational hub.

The bank is reportedly seeking alternative positions within J.P. Morgan for the affected employees in the Philippines.

Aumni, founded in 2018 and headquartered in Salt Lake City, Utah, analyzes private market data, manages venture documents, and monitors and reports on portfolio company performance.