The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64.1 - Monetary intermediation
2,500 jobs Number of planned job creations
Announcement Date
7 November 2017
Employment effect (start)
7 November 2017
Foreseen end date
Description
American multinational banking and financial services company JP Morgan Chase has announced that it will create 2,500 jobs at its new global corporate centre in Warsaw. The move was announced in September 2017 by Steve Cohen, JP Morgan Chase’s managing director, and Mateusz Morawiecki, Poland’s deputy prime minister. In November 2017 the company revealed that it has just leased an office in Atrium Garden, an office space in Warsaw. The company decided to shift some operations from Britain to other members of the European Union given the UK's upcoming departure from the EU single market.
JP Morgan is the largest bank in the United States and one of the world’s largest banks. The company was established in 2000 by merging Chase Manhattan Corporation and JP Morgan & Co. The company operates in 100 countries worldwide.
Sources
7 November 2017: Puls HR
7 November 2017: Forsal
Citation
Eurofound (2017), JP Morgan Chase, Business expansion in Poland, factsheet number 92479, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/92479.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
