Saturday, October 25, 2008

JPMorgan Chase Outsourcing Florida Jobs

NEW YORK - JANUARY 16: (FILE PHOTO) The JPMorg...Image by Getty Images via Daylife

JPMorgan Chase Moves Jobs Out of Florida

Tampa, like much of Florida is experiencing unprecedented economic times. Most of the news here involves forecliosures, dropping housing prices, and reductions in the workforce.

The story from discusses the loss of several hundred jobs from a support center in Seffner, Florida, a bedroom community of Tampa.

According to the story by Michael Sasso, JPMorgan Chase announced plans to lay off 300 people from its Treasury and Securities Services campus based in Seffner. They will outsource the work to offices in the Philippines and India.

Such "offshoring" of work is one of three layoff notices the bank announced this week.

JPMogan X Chase also announced the loss of 93 jobs in Tampa. These jobs will move to a facility in Indianapolis. The company also plans to cut another 75 jobs in its Tampa wholesale mortgage division. These job cuts were first discussed a few months ago.

Combined, those three layoff actions will result in at least 468 employees in the Tampa area losing their jobs. JPMorgan Chase currently has 3,800 Tampa-area employees. The cuts do not affect Washington Mutual employees, who joined the company when JPMorgan Chase recently acquired Washington Mutual.

The company notified the 300 employees Thursday. They work in a variety of jobs but generally assist in the transfer of money around the world, Norris said. Salaries vary, but a typical salary for affected employees is $35,000 to $40,000.
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