Friday, March 28, 2008

Chase to cut 100 jobs in Downtown Indy

JPMorgan Chase will cut 100 jobs in Downtown Indianapolis in May:

One of Downtown Indianapolis' largest employers let about 100 workers know they'll be out of a job by May.

JPMorgan Chase says it is cutting staff in the company's home-equity lending division at Chase Tower.

The affected employees were given 60 days' notice on Wednesday, spokeswoman Nancy Norris said today. Those employees provide loan-officer support, account maintenance and document-handling services. Another 350 home-equity workers that work for chase are being let go, primarily in Rochester, N.Y.

"The reason is the mortgage slowdown," Norris said by phone.

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