(CNBC) – JPMorgan 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.
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Earlier in the day, JPM said it plans 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.
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