JPMorgan Chase announced it is closing its Houston auto loan collections unit and laying off 90 workers.
Greg Hassell, a JP Morgan Chase spokesman, on Monday blamed the layoffs on business "streamlining.” The workers losing their jobs will be able to move into other positions within Chase and Hassell said 52 of them already have found new jobs with the company, in auto loans. Chase still has approximately 200 openings among its 6,900 Houston area employees.
The shuttered unit performed back-office operations for Chase Auto Finance, the auto lending arm of the New York-based bank. The employees were notified of the layoffs last week but they can work through Aug. 7, JPMorgan reported in a layoff notice.
