|
|
JPMorgan Chase & Co. has continued slashing mortgage jobs.
More than 450 jobs are being eliminated in the latest round of layoffs, spokesman Tom Kelly told MortgageDaily.com today in an e-mail statement. The job cuts are the result of falling home equity line-of-credit volume, Kelly said. He noted the New York-based company projects 2008 HELOC production to decline by around 50 percent from the $48 billion in HELOC originations last year. Around 300 of the layoffs will occur in Rochester, N.Y., while 100 jobs will be eliminated in Indiana, and 50 employees will be let go in Arizona, according to the spokesman. The latest layoffs follow the elimination of 54 processing positions at a subprime business-to-business facility in Deerfield Beach, Fla., according to a Worker Adjustment and Retraining Notification Notice filed Friday with Florida’s Re-employment and Emergency Assistance Coordination Team. Chase Home Finance parent JPMorgan reported in November that around 375 workers in retail nonprime lending received 60-day advance layoff notices in October. Kelly couldn’t confirm whether any further layoffs were planned, noting in today’s statement, “We haven’t given any other numbers publicly.” Related: Subprime Layoffs at Chase |
FREE CALCULATORS TO HELP YOU SUCCEED
Tools for Your Next Big Decision.
Amortization Calculator
Affordability Calculator
Mortgage Calculator
Refinance Calculator
FHA Mortgage Calculator
VA Mortgage Calculator
Real Estate Calculator
Tags
Pre-Approval Resources!
Making well educated decions in a matter of minutes and stay up to date on the latest news Mortgage Daily has to offer. Read our latest articles to stay up to date on what’s going on…
Resource Center
Since 1998, Mortgage Daily has helped millions of people such as yourself navigate the complicated hurdles of the mortgage industry. See our popular topics below, search our website. With over 300,000 articles, we are guaranteed to have something for you.
TOP SEARCHED TOPICS
Your mortgages approval starts here.
Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here.
Stay Up To Date with Today’s Latest Rates
Mortgage
Today’s rates starting at
Home Refinance
Today’s rates starting at
Home Equity
Today’s rates starting at
HELOC
Today’s rates starting at