JP Morgan is latest in line of financial companies to undertake mass layoffs of its employees. Latest reports have revealed that JP Morgan Chase & Co. has laid of its hundreds of its mortgage employees just a few hours after it announced new vacancies and hirings for the same.
JP Morgan to lay of hundreds of its Mortgage employees
Sources reveal that JP Morgan & Chase has announced plans to hire more than 500 bankers and its spokesperson has stated,
“We regularly review our business and customer needs and adjust our staffing accordingly – creating new roles where we see the need or reducing positions when appropriate.”
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Layoffs have come hours after JP Morgan announced new vacancies and hirings
The hiring of bankers was to cater to small businesses through 2024 and JP Morgan had plans to boost “bank’s workforce targeting the segment by 20 per cent from more than 2,300 now.”
CEO Jamie Dalton has revealed that the outlook for hiring remains up at the bank,
“We’re still opening branches, and in general around the world, we are still hiring bankers, middle-market bankers, folks overseas… We have more clients to cover,”
Financial Services giants Morgan Stanley has also announced layoffs in view of global slowdown , however they are yet to comment on the move.
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