New York-based JP Morgan Chase and Co. will cut 170 jobs in its Chase Bbank Milwaukee offices by February 2007.
The bank plans to reduce its nationwide collection office cites from five to three. The Wisconsin job cuts will come from the home mortgage and home equity collections areas. The positions will be transferred to Columbus, Ohio; Dallas; and Phoenix.
The collections office located in the Cleveland will also be closed.
The employees whose jobs will be cut may apply for positions at Chase offices in other states. Currently, Chase bank employs 1,400 people in Milwaukee.
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