JPMorgan Chase (JPM) is slashing jobs in its home-lending division as rising mortgage rates and inflation drive a slowdown in the housing market.
The bank is expected to lay off or reassign more than 1,000 employees, Bloomberg News first reported on Wednesday. Bloomberg’s report indicated “about half” of these impacted workers will be moved to different departments within the bank.
“Our staffing decision this week was a result of cyclical changes in the mortgage market,” a JPMorgan…
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