Chase Bank laying off hundreds of employees in Troy
367 employees at location on Big Beaver will be affected
Halston Herrera
No description found
TROY, Mich. – JP Morgan Chase & Co. is laying off hundreds of employees at its Troy location.
In a statement to Local 4, the banking company said 367 employees will be affected, with notices going out sometime in the next 90 days.
Recommended Videos
The company said it will work will all of the employees to find openings at other locations in the state, or outside the state.
Statement from Chase:
"We are responding to our customers' changing needs. Fewer homeowners are struggling with their mortgages and many people have already refinanced, taking advantage of the stronger economy and historically low rates. We are reducing expenses and staffing as fewer customers need help with their mortgages and fewer consumers are seeking a new mortgage. We will work with affected employees to find openings at Chase or other local companies."
Facts about Chase in Michigan:
Employees: 4,416 currently; {4,049 after reductions}
Consumer Customers: 2,768,395
Small Business Customers: 168,276
308 Chase branches in Michigan
JPMC contributed nearly $4.3 million to Michigan charities in 2012.
JPMC paid nearly $15.5 million in state and local taxes in 2012.
JPMC paid more than $351 million in wages and benefits to Michigan employees in 2012.
JPMorgan Chase continues to be there in support of small businesses throughout Michigan, making a difference locally by extending $569 million in credit through 9,514 loans in 2012.
JPMorgan Chase raised more than $2 billion in financing for local governments and nonprofit organizations in Michigan in 2012.
JPMorgan Chase Securities provided $640 million in bonds on behalf of the Michigan State Building Authority. The investment will help Michigan renovate and develop higher education facilities across the state.
Copyright 2013 by ClickOnDetroit.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.