JPMorgan lays off hundreds of mortgage employees -source

JPMorgan lays off hundreds of mortgage employees -source

(Reuters) – JPMorgan Chase & Co has cut hundreds of mortgage employees, a source familiar with the matter told Reuters on Wednesday, hours after the company announced plans to hire some bankers.

“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,” a Chase spokesperson told Reuters.

Earlier in the day, JPM said it plans to hire more than 500 bankers catering to small businesses through 2024, boosting the banks workforce targeting the segment by 20% from more than 2,300 now.

In an interview with Reuters, JP Morgan CEO Jamie Dimon said the outlook for hiring remains up at the bank when asked about plans for jobs given cuts at other Wall Street banks.

“Were still opening branches, and in general around the world, we are still hiring bankers, consumer bankers, small-business bankers, middle-market bankers, folks overseas. … We have more clients to cover,” he said.

(Reporting by Saeed Azhar in New York and Jose Joseph in Bengaluru; Editing by Leslie Adler)

Crude Oil Price Forecast – Crude Oil Markets Continue to Show Signs of LifeGBP to USD Forecasts: A Return to sub-$1.20 in the Hands of the BoEFed‘s Williams Sees Fed Funds Rate Peaking at 5%-5.25%EUR/USD, GBP/USD, USD/CAD, USD/JPY – U.S. Dollar Gains Ground After Williams’ CommentsGold, Silver, Platinum – Gold Markets Pulled Back From Session HighsEUR/USD Eyes $1.08 on German Inflation and ECB ChatterLoadingLoadingLoading