JPMorgan lays off hundreds of mortgage workers
Business
JPM announced earlier intentions to increase employment of bankers by more than 500 through 2024
(Reuters) –JPMorgan Chase & Co has laid off hundreds of mortgage workers hours after the business announced intentions to recruit some bankers, Reuters has reported quoting a source with knowledge of the situation.
A Chase representative told Reuters that the company used to frequently review their business and client demands and adjusts the workforce appropriately and that adding new jobs where they perceive the need or decreasing positions where necessary.
Earlier in the day JPM announced intentions to increase its employment of bankers serving small companies by more than 500 through 2024 up from more than 2,300 at present.
When questioned about plans for jobs given layoffs at other Wall Street banks JPMorgan CEO Jamie Dimon stated in an interview with Reuters that the forecast for recruiting at the firm remains up.
"We're continuing building branches and generally speaking, employing people from outside to work as bankers in the consumer, small-business and middle-market sectors. We need to serve more clientele,” he explained.
