October 29, 2019

THE HIGH COST OF HIGH TAXES: JPMorgan Weighs Shifting Thousands of Jobs Out of New York Area. “Despite more than two centuries of history in a city synonymous with the global financial industry, JPMorgan is quietly shrinking its workforce there. The bank’s been building up its presence in other locations and is now considering relocating several thousand New York-based employees out of the area to help rein in costs ahead of a possible economic downturn, according to people with knowledge of the bank’s strategy.”

As Arthur Schwartz quipped on Twitter, “Well done, @NYGovCuomo. Who are you going to tax when they’re all gone?”

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