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JPMorgan could shift over 4,000 jobs out of UK because of Brexit

JPMorgan’s 4,000 jobs could be relocated to other countries in case Brexit negotiations lead to a separation of regulations and trade accords between the two parties, Jamie Dimon, the bank’s CEO, said today.

If the decision will be – no reciprocal trade and regulations, the number would even be more than 4,000, Dimon said in an interview at the World Economic Forum in Davos.

Different figures were mentioned as to the number of jobs to be relocated by the bank, but this happened due to the changing outlook on whether Britain can retain access to EU markets for its financial companies.

JPMorgan CEO’s today’s words of possible relocation of over 4,000 jobs is the most severe take to date on the aftershocks of Brexit variant, when the UK is blocked from the European single market. The bank’s figures on the potential measures linked to jobs are among the biggest among various companies.

Combined count of jobs Britain will lose and new ones created elsewhere, if access to the single market for the UK is closed, is evaluated at near 10,000, last year’s poll by Reuters of companies hiring the most part of finance workers showed.

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