OCC Preparing for New Round of Job Cuts as Top Officials Depart

The federal regulator charged with overseeing the banking units of JPMorgan Chase & Co., Bank of America Corp., and other giant financial institutions is getting set for another round of workforce reductions.

The Office of the Comptroller of the Currency said in a staff email Wednesday that it will be offering buyouts under its “voluntary transition program” to help minimize the need for a broader reduction in force. The new round of job cuts follows the OCC’s review of its operations, the agency said in the email obtained by Bloomberg Law.

“To align form with function, certain positions ...