JPMorgan Chase Investing $350 Million to Train Workers for the Future

JPMorgan Chase CEO Jamie Dimon says the bank will spend $350 million over the next five years to develop employee skills needed for the future market, according to an interview on CNN. The company, which previously made a $250 million five-year commitment to job training in 2013, said it will invest in a variety of initiatives, including a development program for community college presidents and new research. One of the bank's projects will be a partnership with the Aspen Institute. JPMorgan will fund a program for community college presidents that will focus on curriculum development, boosting graduation rates and helping students secure good jobs after graduation. JPMorgan will also team up with PolicyLink, a think tank focusing on economic and social equality, and the National Fund for Workforce Solutions, a nonprofit that advocates for better job training. The collaboration will generate workforce data in 10 US cities. It's meant to help identify job training opportunities in those areas, particularly for disadvantaged groups. Additionally, the bank will work with MIT to identify where more job training is necessary within JPMorgan's own workforce.