Chase cuts 100 workers from downtown location

March 28, 2008

JPMorgan Chase has cut 100 workers from its downtown operations in Chase Tower, according to spokeswoman Nancy Norris.

All of the workers are in Chase's home-equity lending processing area, Norris said. Chase eliminated another 350 workers in other cities, primarily in Rochester, N.Y.

The cuts are "due to the slowdown in home-equity lending," Norris said. The workers supported back-office operations for Chase nationwide.

Employees were notified earlier this week, Norris said.

The loss will occur over 60 days. Then, the bank will employ about 2,400 in Indianapolis.

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