JPMorgan lays off hundreds of employees in mortgage division as rates spike
CNN
JPMorgan Chase is laying off employees this week in response to the spike in mortgage rates that has rocked the housing market.
"Our staffing decision this week was a result of cyclical changes in the mortgage market," JPMorgan said in a statement.
Hundreds of JPMorgan (JPM) employees will be laid off, while hundreds of others will be reassigned, a person familiar with the matter told CNN Business.
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