
JPMorgan to Lay Off 1K First Republic Workers
JPMorgan Chase says it is laying off around 15 percent of First Republic Bank’s roughly 7,200 employees following its acquisition of the troubled bank in a regulator-brokered deal earlier this month.
JPMorgan Chase says it is laying off around 15 percent of First Republic Bank’s roughly 7,200 employees following its acquisition of the troubled bank in a regulator-brokered deal earlier this month.
Notarize, a Boston-based technology company that offers a remote online notarization product, laid off 25 percent of its employees on Wednesday.
Two of the biggest-name brokerages that sought to challenge the established hierarchy of residential brokerages announced major layoffs Tuesday as buyer frenzy cooled nation-wide.
The U.S. unemployment rate fell sharply in August to 8.4 percent from 10.2 percent even as employers slowed their hiring again in one of the final major barometers of the economy to be released before Election Day.
Thanks to slowing foot traffic at its branches, Brockton-based HarborOne Bank is laying off 43 staffers as it “re-aligns” its branch strategy.
As COVID-19 rapidly changes the economic landscape throughout the country, businesses and individuals are facing new and evolving challenges.
The number of Massachusetts residents who have filed initial claims for unemployment has jumped again, this time by over 180,000.
State Street Bank laid off 250 employees who work in the information technology department. The layoffs were part of a previously announced plan to trim headcount by 2,300.
Raytheon Co. and United Technologies Corp. are merging in a deal that creates one of the world’s largest defense companies, whose headquarters will be located in the Boston area.
Rockland Trust is planning to lay off 80 people from Blue Hills Bank once it completes its acquisition of the company, as a result of duplicate back office jobs that Rockland already has filled and does not need additional staff for.
Layoffs at State Street Corp. appear to be worse than initially anticipated.
State Street Corp. is preparing to get rid of a large chunk of its senior management.
The recent divestiture in wealth management subsidiaries could free up capital for future acquisition opportunities, while staff reductions were an attempt to make up for slow growth, Boston Private executives said on an earnings call last week.
Boston Private Financial Holdings is shedding another of its wealth management divisions to refocus on its own personal wealth management brand and is also preparing for significant layoffs.
The number of Americans filing for unemployment benefits fell last week, pointing to a tightening labor market that likely keeps the Federal Reserve on course to announce plans next month to start reducing its massive bond portfolio.
The Baker administration will not seek government layoffs to address a persistent budget gap after 900 employees took a buyout offer resulting in $12 million in payroll savings this fiscal year and a projected $70 million in fiscal 2018.