PH workforce hit as J.P. Morgan shuts analytics software provider Aumni

J.P. Morgan on Tuesday announced the shutdown of its intelligence analytics software provider Aumni, affecting some 250 employees in the Philippines that it described as a “critical hub” for its global operations.

The decision comes over two years after J.P. Morgan announced the acquisition of Aumni, which provides intelligence analytics to the venture capital industry, in March 2023.

“J.P. Morgan regularly reviews its products and client offerings, and we have taken the decision to discontinue Aumni's services globally, which includes its operations in the US, UK, India, and the Philippines,” a spokesperson for the company said.

“J.P. Morgan remains committed to the Philippines, and the country continues to be a critical hub for our operations globally,” the spokesperson added.

According to J.P. Morgan, impacted Aumni employees in the Philippines represent around 1% of the 25,000 employees of JPMorgan Chase in the country.

Headquartered in Salt Lake City in Utah, Aumni analyzes private market data, manages venture documents, and monitors and reports on portfolio company performance.  — VBL, GMA Integrated News