JPMorgan Chase will cut 475 jobs in North Texas, part of a downsizing of its mortgage default servicing unit, the bank announced Thursday. About 450 of those jobs will be cut in Fort Worth, said Greg Hassell, a Chase spokeman.
The company is responding to changes in the economy, said Hassell, who said fewer homeowners are struggling with economic issues, reducing the need for the default servicing unit.
The bank will work with affected employees to find available positions, Hassell said. Chase currently has 340 job postings in North Texas and more than 700 statewide. Hassell noted that Chase has added about 3,000 jobs in North Texas in the past three years.