Chase lays off 94 in Milwaukee

JPMorgan Chase has eliminated 94 positions in its mortgage banking line of business, most of them in downtown Milwaukee.

The employees were given at least the minimum 90 days notice.

“We are responding to our customers’ changing needs,” said Christine Holevas, a company spokesperson. “Fewer homeowners are struggling with their mortgages and many people have already refinanced, taking advantage of the stronger economy and historically low rates. We will work with affected employees to find openings at Chase or other local companies.”

The bank had 1,967 employees in Wisconsin as of December 2012.

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