JPMorgan Chase & Co has reportedly laid off hundreds of mortgage employees, according to a reports. This news comes just hours after the company announced that it has plannned to hire more than 500 bankers catering to small businesses through 2024, boosting the bank's workforce targeting the segment by 20% from more than 2,300 now.
"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.
JP Morgan CEO Jamie Dimon, in a interview to Reuters, said the outlook for hiring remains up at the bank when asked about plans for jobs given cuts at other Wall Street banks.
"We're 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 had said.
