Amid muted environment for global merger and acquisition deals, JPMorgan Chase & Co. ( JPM - Free Report ) made fresh round of layoffs in Asia, per a Bloomberg article. People familiar with the matter stated that the firm cut around 20 investment banking (IB) jobs. Per a source familiar with the matter, the New York-based firm made the workforce reduction on Tuesday across the region. This reduction mostly affected junior staff at associate and analyst levels in sectors including consumer, healthcare and private capital markets. Previously, it axed 500 roles across various departments and about 30 IB jobs in Asia-Pacific in May and February, respectively. JPM also laid off workers in First Republic Bank in May. It took over the collapsed bank and announced layoffs affecting 15% of First Republic Bank's workers. Those job cuts were a part of the integration process.