Layoffs hit JPMorgan mortgage operations in metro Phoenix

 

By Russ Wiles | Arizona Republic

JPMorgan Chase is laying off a combined 400 or so employees in the Phoenix area and three other cities, with an undisclosed impact in the Valley.

The layoffs account for about 2 percent of the people in Chase’s mortgage-servicing group, the Wall Street Journal reported. Also affected are Chase operations in Cleveland, Columbus and Jacksonville.

In a reply to The Arizona Republic, the company called the reductions an adjustment that reflects declining loan delinquencies. A spokeswoman didn’t provide an estimate of layoffs in the Valley.

“When fewer people are struggling with their mortgages, and more people are using self-service channels, we can adjust staffing,” Chase said in its statement. “Like all companies, we are making improvements to operate more efficiently and make slight adjustments to resources to best meet the needs of the market.”

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