JP Morgan Chase laying off 450, closing Florence office - WMBFNews.com, Myrtle Beach/Florence SC, Weather

JP Morgan Chase laying off 450, closing Florence office

Posted: Updated:

FLORENCE, SC (WMBF) – JP Morgan Chase announced Thursday that 450 people are being laid off, and their office in Florence is closing. This is the third round of layoffs at that office this year.

An official with JP Morgan Chase confirmed the layoffs would be mortgage servicing jobs, like the layoffs in March and January.

Mortgage servicing employees are there to help people who are having trouble paying their mortgage, said Melissa Shuffield with JP Morgan Chase. Because of the recovering economy, they are down-sizing this department as there is less of a demand for these mortgage services.

"This is a response to our customers' changing needs," Shuffield said. "Fewer homeowners are struggling with their mortgages, and many people have already refinanced – taking advantage of the stronger economy and historically low rates. We've already held three job fairs in Florence this year where many employees received offers from local employers. We'll continue to do all we can to support affected employees."

Employees will be phased out through 2014, Shuffield said, with the first group being let go in early fall. Shuffield said the company announced in February that nationwide, 13,000 to 15,000 employees would be cut by the end of 2014.

"While we're not consolidating all offices into one, we are streamlining the business to fewer mortgage sites across the nation," Shuffield said.

The Florence office employed only mortgage servicing employees, and the office will be closed once all employees have been laid off.

JP Morgan Chase will continue offering employees job fairs, resume workshops, and relocation options to work at other officers in the United States.

JP Morgan was one of Florence County's top 20 employers in 2012, according to a document from the South Carolina Department of Employment and Workforce.

JP Morgan laid off 570 workers back in March, and 300 in January of 2013.

Copyright 2013 WMBF News. All rights reserved.

  • Local NewsLOCAL NEWSMore>>

  • 2 agencies partner for Backpack Buddies

    2 agencies partner for Backpack Buddies

    Friday, April 18 2014 10:41 PM EDT2014-04-19 02:41:34 GMT
    MYRTLE BEACH, SC (WMBF) – The Myrtle Beach Pelicans are working with HTC for a second season to bring Backpack Buddies Monday to TicketReturn.com Field at Pelicans Ballpark. The program invites fans toMore >>
    The Myrtle Beach Pelicans are working with HTC for a second season to bring Backpack Buddies Monday to TicketReturn.com Field at Pelicans Ballpark. The program invites fans to bring certain essentials to the ballpark for donation on Monday home games. Those donating will receive half-price admission on their Monday game ticket.More >>
  • GCSO to collect unwanted prescription drugs

    GCSO to collect unwanted prescription drugs

    Friday, April 18 2014 10:10 PM EDT2014-04-19 02:10:08 GMT
    GEORGETOWN, SC (WMBF) - On Saturday, April 26 the Georgetown County Sheriff's Office and the Drug Enforcement Administration (DEA) will give the public its eighth opportunity in three years to preventMore >>
    On Saturday, April 26 the Georgetown County Sheriff's Office and the Drug Enforcement Administration (DEA) will give the public its eighth opportunity in three years to prevent pill abuse and theft by ridding their homes of potentially dangerous expired, unused, and unwanted prescription drugs.More >>
  • SCFC shares fire prevention tips

    SCFC shares fire prevention tips

    Friday, April 18 2014 9:26 PM EDT2014-04-19 01:26:42 GMT
    MYRTLE BEACH, SC (WMBF) - The spring season brought along warmer temperatures with its arrival. To celebrate the season and a tradition for some, people are preparing to spring clean. The South CarolinaMore >>
    The spring season brought along warmer temperatures with its arrival. To celebrate the season and a tradition for some, people are preparing to spring clean. The South Carolina Forestry Commission reminds folks, spring cleaning includes the outside of the home as well.More >>
Powered by WorldNow

918 Frontage Road East
Myrtle Beach, SC 29577
(843) 839-9623
news@wmbfnews.com

FCC Public File
EEO Report
Closed Captioning

All content © Copyright 2000 - 2014 Worldnow and WMBF. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.