|JPMorgan Chase & Co. has laid off more than 50 people at a Florida subprime wholesale operation.
The New York-based company let 54 employees go from a Deerfield Beach location, according to a Worker Adjustment and Retraining Notification Notice filed Friday with Florida’s Re-employment and Emergency Assistance Coordination Team.
The affected business-to-business office handles subprime loans.
The laid off employees included processing jobs, Chase spokesman Thomas A. Kelley told MortgageDaily.com in an e-mail statement. He noted about 50 employees were retained to handle a lower level of originations.
“Our origination volume has declined substantially because of lower home prices and tighter lending standards,” Kelley stated.
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