JPMorgan Chase to Lay Off San Antonio Workers, Consolidate Operations

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JPMorgan Chase is laying off 107 workers from its San Antonio Corporate Center.

Wikimedia Commons / M.O. Stevens

JPMorgan Chase is laying off 107 workers from its San Antonio Corporate Center.

JPMorgan Chase informed the Texas Workforce Commission this week that the company is laying off 107 workers from its San Antonio Corporate Center.

The termination date for the employees, who are members of the company’s banker support team, is Dec. 1. The company plans to move the support function to JPMorgan Chase offices in other cities, it said.

JPMorgan Chase is the nation’s largest bank. With $99 billion in revenues last year, the New York-based financial services company employs more than 250,000 people, including 5,000 in San Antonio.

About 2,000 work at the company’s Stone Oak location, where the layoffs are occurring.

“We always look for ways to operate more effectively and efficiently, driving down costs for our customers and clients,” said company spokesman Greg Hassell. He added that the bank would assist affected employees in finding other positions within the company and offer relocation assistance to others.

The banking company announced Sept. 13 it was reducing its Houston branch support workforce by 102 positions this fall. About 400 employees in the company's consumer home-lending business also received pink slips this month. Those employees were based in Florida, Ohio, and Arizona.

The JPMorgan Chase layoffs come on the heels of USAA’s recent announcement it was eliminating 265 jobs in the bank’s real estate lending operations in San Antonio, Tampa, and Phoenix, by mid-November.

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