Hundreds of people will be laid off from a mortgage processing call center in Albion. JP Morgan Chase announced on Thursday that 400 people will be laid off as that operation in Albion will be closed within 90 days.
A spokesperson tells WXXI News the reason is basically because the economy and the housing market are improving. Chase issued this statement:
“Fewer homeowners are falling behind on their mortgages, so we need fewer employees to assist those who were struggling. This shift is good for homeowners and the economy overall. We will work with affected employees to find openings at Chase or other local companies.”
The spokesperson says that Chase continues to operate its mortgage processing operation in Rochester.