JP Morgan Cazenove Redundancy Plans
JP Morgan Cazenove has set out proposals for a redundancy programme after JP Morgan agreed earlier this month to pay £1bn for the 50% of the stockbroker that it does not already own. The City broker has posted documents on its internal website with details of the procedure, which will see employees submit to an evaluation process ahead of decisions on which staff will be laid off, retained on a permanent basis or kept …
JP Morgan Cazenove has set out proposals for a redundancy programme after JP Morgan agreed earlier this month to pay £1bn for the 50% of the stockbroker that it does not already own.
The City broker has posted documents on its internal website with details of the procedure, which will see employees submit to an evaluation process ahead of decisions on which staff will be laid off, retained on a permanent basis or kept on for a limited period to help with the integration.
Staff say the process is causing concern, with JP Morgan yet to state how many job losses it expects to make. However, the cuts are not expected to be massive.
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