JP Morgan laying off hundreds in mortgage buisness

https://www.reuters.com/business/jpmorgan-lays-off-hundreds-mortgage-business-bloomberg-news-2022-06-22/

JPMorgan Chase & Co (JPM.N) is laying off hundreds of employees in its home-lending business and reassigning hundreds more this week, Bloomberg News reported on Wednesday, citing people familiar with the matter.

More than 1,000 employees will be affected, the report said, and about half of them will be moved to different divisions with the bank.

“Our staffing decision this week was a result of cyclical changes in the mortgage market,” a spokesperson for the bank said.

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https://www.reuters.com/business/jpmorgan-lays-off-hundreds-mortgage-business-bloomberg-news-2022-06-22/ JPMorgan Chase & Co (JPM.N) is laying off hundreds of employees in its home-lending business and reassigning hundreds more this week, Bloomberg News reported on Wednesday, citing people familiar with the matter. More than 1,000 employees will be affected, the report said, and about half of them will be moved to different divisions with the bank. “Our staffing decision this week was a result of cyclical changes in the mortgage market,” a spokesperson for the bank said. submitted by /u/luxuriate90 [link] [comments]

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