Terrible news from Cincinatti. The Wall Street layoffs everyone’s been warning are going to hit the city bad.
JPMorgan is closing their entire Treasury and Security Services office, and up to 118 people will lose their jobs starting this September. The office will be fully shut by December.
According to BizJournals, the HR director (Tanya Calloway, assistant vice president for human resources for JPMorgan Chase) just sent everyone a memo about the layoffs yesterday. It said:
[JPMorgan] will close its Treasury and Security Services office at 303 Broadway in Cincinnati.
The move affects 118 local employees, effective Dec.16.
Employees will start receiving formal termination notices Sept. 15 through Oct. 16, according to the notice.
The good news: they’re giving the bankers ample warning, and offering to transfer some of them, if they can, to other divisions.
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