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News Chase to cut 475 jobs in North Texas

Chase to cut 475 jobs in North Texas

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Robert Francis
Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

 

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.  

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