J.P.Morgan CEO warns firm could cut up to 4,000 UK jobs on Brexit vote

Jamie Dimon speaks against leaving EU

Anna Fedorova
clock • 1 min read

J.P. Morgan chief executive Jamie Dimon has warned the US banking giant may have to cut as many as 4,000 jobs in the UK if Britain votes to leave the European Union in this month's referendum.

Dimon (pictured), president and chief executive of the US bank, said leaving the EU would be a "terrible deal" for the UK economy, the BBC reports. He spoke alongside Chancellor George Osborne at J.P. Morgan's Bournemouth office, which houses around 4,000 staff. Think tanks warn of bonus and job cuts in City of London The BBC quotes him saying: "After a Brexit we cannot do it all here and we will have to start planning for that. I don't know if it means 1,000 jobs, 2,000 jobs - it could be as many as 4,000, and they will be jobs all around the UK. "If the EU says anybody who doe...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on UK

House of Lords challenges 'disproportionate' FCA investigations proposal
UK

House of Lords challenges 'disproportionate' FCA investigations proposal

Letter to FCA CEO Nikhil Rathi

Eve Maddock-Jones
clock 22 April 2024 • 2 min read
Bank of England's Megan Greene rules out 'imminent' rate cuts - reports
UK

Bank of England's Megan Greene rules out 'imminent' rate cuts - reports

UK in 'trade-off territory'

Valeria Martinez
clock 19 April 2024 • 2 min read
UK inflation falls less than expected over March to 3.2%
UK

UK inflation falls less than expected over March to 3.2%

‘Signs of deeper persistence’

clock 17 April 2024 • 2 min read
Trustpilot