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JPMorgan Lays Off Hundreds of Home Lending Pros

JPMorgan Chase has confirmed that it will lay off hundreds of home lending employees “as a result of cyclical changes in the mortgage market.” So reports Bloomberg.

JPMorgan 150x150The company plans to move hundreds more to other divisions, with about 1,000 U.S. staffers affected in all.

Bloomberg also cited an unnamed source as saying that Wells Fargo, too, had been laying off and reassigning its home-lending employees.

Read the full article from Bloomberg.

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