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JPMorgan Lays Off 1,000 First Republic Employees

Sunday, Jun 04 2023
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Written by  The Mortgage Leader

After buying collapsed bank First Republic, JPMorgan Chase has begun laying off 15% of its workforce, or about 1,000 people. So reports BBC News.

JPMorganJPMorgan is set to provide 60 days of pay and benefits to laid-off employees, plus other benefits such as a lump sum payment.

With a large home loan business, First Republic was the 14th biggest U.S. lender at the close of 2022.

Read the full article from BBC News.

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