Citywire - For Professional Investors

Register to get unlimited access to all of Citywire’s fund manager database. Registration is free and only takes a minute.

JP Morgan could cut 4,000 UK jobs if Britain leaves Europe

JP Morgan could cut 4,000 UK jobs if Britain leaves Europe

JP Morgan has warned that up to 4,000 jobs may be cut from its UK business if Britain votes to leave the European Union.

Speaking at a town hall for staff in Bournemouth, UK on Friday, JPMorgan Chase chief executive Jamie Dimon said that an exit would force the investment bank to review its local business.

Dimon was speaking alongside UK Chancellor George Osborne, who is campaigning to remain in the EU ahead of the June 23 referendum.

A quarter of all UK positions would be in jeopardy due to the ‘years of uncertainty’ that he said would result from an ‘out’ vote.

‘After a Brexit we cannot do it all here and we will have to start planning for that,’ said Dimon. ‘I don’t know if it means a 1,000 jobs, 2,000 jobs, it could be many as 4,000, and they will be jobs all around the UK.

‘Brexit will result in years of uncertainty and I believe that this uncertainty will hurt the economies of both Britain and the European Union. If the UK leaves the EU, we may have no choice but to re-organise our business model here.’

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Events
  • Citywire Latin America 2017

    Citywire Latin America 2017

  • Citywire Miami 2017

    Citywire Miami 2017

  • Citywire Santiago 2017

    Citywire Santiago 2017

  • Citywire Mexico 2017

    Citywire Mexico 2017

  • Citywire Miami 2017

    Citywire Miami 2017

  • Citywire New York 2016

    Citywire New York 2016

  • Citywire New York 2016

    Citywire New York 2016

  • Citywire Mexico 2016

    Citywire Mexico 2016

  • Citywire Mexico 2016

    Citywire Mexico 2016

  • Citywire Panama 2016

    Citywire Panama 2016

  • Citywire Latin America 2016

    Citywire Latin America 2016

  • Citywire Latin America 2016

    Citywire Latin America 2016

  • Citywire Miami 2016

    Citywire Miami 2016

  • Citywire Miami 2016

    Citywire Miami 2016

  • Citywire Panama 2016

    Citywire Panama 2016

  • Citywire New York 2015

    Citywire New York 2015

  • Citywire New York 2015

    Citywire New York 2015

  • Citywire New York 2015

    Citywire New York 2015