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JPMorgan asking 300 employees to relocate in case of no-deal Brexit

New York-based JPMorgan Chase & Co. is trying to convince 300 London-based investment banking staff to sign new employment contracts binding them to leave the U.K. in the event of a no-deal Brexit, Bloomberg reported, citing people familiar with the matter.

The employees work in business areas including sales and risk and were given contracts in the last week that require them to move to an EU country, such as Germany or France, in a no-deal scenario, Bloomberg reported, adding that the move comes as JPMorgan activates its Brexit contingency plans.

Recently, JPMorgan opened a new office in Dublin to accommodate the increased number of Irish employees post-Brexit, according to the news outlet.