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Home News Business

JPMorgan plans to hire more than 500 bankers catering to small businesses

JPMorgan is set to bolster their small-business division by onboarding 500 new bankers over the next four years, growing their total headcount by 20%.

Emma AscottbyEmma Ascott
February 10, 2023
in Business
Reading Time: 1 min read
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What’s going on:   

JPMorgan is expanding their small-business division by onboarding 500 new bankers through 2024, increasing the total headcount by 20%. A survey conducted by the bank revealed that the majority of small-business owners are anticipating higher sales and profits this year, despite bracing themselves for potential recession. 

Why it matters:   

This good news stands in stark contrast to the high-profile layoffs reported at major firms, such as Goldman Sachs and Morgan Stanley. 

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How it’ll impact the future:  

Although the promised hire of more than 500 bankers is positive, hundreds of employees in JPMorgan’s mortgage unit are being let go, according to reports from Bloomberg and Reuters which cite anonymous sources. American Banker was told by JPMorgan that there had been cuts made, though the number of employees affected was not revealed. 

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Source: LinkedIn News
Tags: BusinessWorkforce
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Emma Ascott

Emma Ascott

Emma Ascott is a contributing writer for Allwork.Space based in Phoenix, Arizona. She graduated from Walter Cronkite at Arizona State University with a bachelor’s degree in journalism and mass communication in 2021. Emma has written about a multitude of topics, such as the future of work, politics, social justice, money, tech, government meetings, breaking news and healthcare.

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