JPMorgan Chase & Co. laying off 102 people in Houston

September 21, 2018 GMT

JPMorgan Chase & Co. is laying off 102 people in Houston as their tasks are reassigned to employees in another part of the country.

The workers being let go have provided support to bank branches in the areas of workforce management as well as fraud and customer protection services, according to documents released Friday by the Texas Workforce Commission.

In a statement, JPMorgan Chase said it “always look for ways to operate more effectively and efficiently, driving down costs for our customers and clients.”

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Outplacement assistance and other severance-related benefits will be provided to eligible employees. The company will also assist the workers in finding and applying for available jobs within JPMorgan Chase.

The employees, located at 9900 Katy Freeway, were given a 60-day notice period, with the first termination date expected to begin Nov. 12.

That Katy Freeway location will still have about 1,250 employees. The company, overall, has roughly 6,000 employees in the Houston area.