US Corporate Layoffs

1789 Bank of America employees in New York and New Jersey to be laid off by May 31 2013

2013-04-04T10:55:00.001-07:00

During the past week, Bank of America confirmed that it will be laying off a total of 1,789 employees that worked in its mortgage-servicing areas. All affected employees will be released by May 31, 2013.

These reason for the layoffs is that the number of delinquent mortgages has declined and there is a slowdown in mortgage special needs.

As a result, 469 full time workers in Newark, NJ will be laid off, and 1,320 workers in its Getzville, NY will lose there jobs when Bank of America closes that facility.

In Newark, approximately 314 full time workers and 62 part time workers will lose their jobs. Those affected include back office operations, secretaries, and corporate officers.

In Getzville, all employees will be terminated when its lease expires. However, the M & T Bank will then lease the building. Since M&T has openings for 400 employees, those terminated by Bank of America may apply for those jobs.

Sources:

750 Coca-Cola workers to be laid off in the coming months (Summer 2013)

2013-03-22T11:01:00.000-07:00

The Coca-Cola company announced that it will be laying off 750 workers in North America in the new few months. This represents about 1% of its 75,000 worldwide workforce. While no exact dates have been set, we expect these to occur during the 2013 summer months.

Of the total being eliminated, approximately 185 will be from the Atlanta Georgia area. The other locations have not been disclosed. The job cuts will be across the board, meaning that every level of employment, from worker to management, will be affected.

This move comes in an effort to increase profitability. The company intends to streamline its business by improving its structures, processes and systems.

More recently, Coca-Cola closed a Sheboygan WI facility, resulting in 40 permanent layoffs. It also plans to shutter a plant in Oslo Norway this month which will result in 400 to 500 job losses there.

Sources
Coca-Cola cutting 750 U.S. jobs, more than one percent of workforce
Coca-Cola Plans Layoffs
Coca-Cola cutting 750 U.S. jobs

243 Hanford Nuclear Reservation layoffs announced, plus 2,600 furloughed

2013-03-21T07:55:00.001-07:00

Approximately 243 of the 9,000 workers (2.7%) at the Hanford Nuclear Reservation in southeastern Washington State received layoff notices last Monday, March 18, 2013. These employees work for several contractors that are removing debris, soil, buildings, contaminated groundwater, and other radioactive waste from the site which produced plutonium for U.S. nuclear weapons.

The Department of Energy (DOE), who funds the cleanup, explains that the layoffs are a result of the automatic federal budget cuts imposed by sequester. The DOE spends about $2 billion per year for the cleanup effort. And, the sequester cuts over $90 million from this budget. This represents an appoximate 4.5% reduction in funding.

Currently, Hanford, which is located near Richland WA, employs about 9,000 workers. Of those, the DOE contractors are laying off 243 workers, and plans to furlough another 2,600 workers as well

Most of laid off staff are union workers, but 27 of those are non-union.

The effective date for these laid off employees is March 28, 2013.

The layoff and furlough breakdown by DOE contractor is:

Mission Support Alliance: 112 union (700 furlough for 200 hours)
CH2M Hill Plateau Remediation Co.: 59 union (900 furlough for 200 hours)
Washington River Protection Solutions 37 union (900 furlough for 100-260 hours)
Washington Closure Hanford : 20 nonunion in March plus 15 in April (no furloughs listed)

The DOE also noted that future layoffs and furloughs may be made at other sites located in Tennessee, New Mexico, Idaho, and South Carolina.

Sources
Hanford layoffs Monday total 235 workers
Layoff notices sent to workers at Hanford Nuclear Reservation
Sequester Layoffs Hit Hanford Cleanup
Hundreds of pink slips handed out at Hanford

All 205 Sea Ray Boat employees in Merritt Island losing their jobs by July

2013-03-08T10:41:00.002-08:00

Yesterday, Sea Ray Boats filed a WARN notice with the Florida Department of Economic Opportunity stating that it would be laying off all of its 205 full time employees at the Sykes Creek Plant in Merritt Island Florida. The layoffs will occur between May 1 and July 1 2013.

Sea Ray's parent company, Brunswick Corp, indicated that it is closing this manufacturing facility. All of the motoryacht production work will be transferred to its Palm Coast plant in Flagler County.

Sea Ray sales have been struggling since the economic turndown in 2008. It believes that closing this facility and consolidating operations will boost profitability by reducing the production time in building its yachts.

Last May 2012, Sea Ray laid off 65 workers at Palm Coast which now employees 307 workers. Further, Brunswick announced in January 2013 that it is seeking a buyer for its Hatteras and Cabo Yacht brands.

Sources:
Sea Ray to shutter Merritt Island manufacturing plant, cuts 205 workers
Brunswick plans to close down Sea Ray facility in Merritt Island, Florida
Brunswick to sell Hatteras and Cabo Sea Ray workers talk about plant closure, layoffs

254 FreightCar America layoffs in April and May due to lower coal production

2013-03-06T08:56:00.000-08:00

As governmental regulations are hampering industries, the U.S. coal production business is suffering. More customers are moving from coal as a primary fuel source to natural gas. These effects are not only being felt in the coal mining industry, but in the peripheral businesses as well. In January, we reported that Alpha Natural Resources were reducing its coal production and would lay off 1,200 workers. Yesterday, we wrote that Joy Global will be closing one of its coal related manufacturing plants.

And, now today, we report that FreightCar America will be laying off 254 employees at its plant located at 2313 Cannon Street, Danville, IL. This plant manufactures new coal-carrying rail cars.

FreightCar filed an Illinois Worker Adjustment and Retraining Notification WARN Notice and informed the affected workers to expect layoffs between April 18 and May 2 2013.

Many of these employees are members of United Auto Workers Local 2419. Workers are hoping that new orders will be obtained before April and that they might be able to keep their jobs. However, FreightCar announced in February that it would begin to manufacture rail cars in Alabama. So, it appears that all the Danville layoffs will go through as planned.

Sources:
FreightCar America lays off 254 FreightCar warns of layoffs
FreightCar America laying off 254 in Danville

150 Joy Global employees to be laid off in Millersburg

2013-03-05T05:45:00.000-08:00

Joy Global, a mining equipment manufacturer, will shutter its plant in Millersburg Kentucky, laying off 150 of its 187 employees working there. The means that slightly more than 80% of its staff will be laid off.

The layoffs will begin in May 2013 and full closure is expected to be complete by October 2013. All of the work performed there will be moved to a plant in Longview TX. The plant manufactured feeder breakers, parts, and components.

These layoffs will be a major blow to the workers, as this is one of the few employers still left in the small town. The factory had been in operation for 60 years (since 1953).

On the bright side, however, Joy expects to continue to employee 37 Millersburg employees that perform engineering, sales, and marketing functions.

The company cites that the mining industry has seen declines in demand as more customers are switching from coal-fired to natural gas fired plants in order to comply with the increasing number of federal environmental regulations being enacted.

Sources:
Mining equipment company to lay off 150 in Millersburg
Central Ky. mining equipment plant laying off 150
Job cuts take 'Joy' out of Millersburg

356 Hudson City Bank employees lose jobs as M & T Bank takeover completes in May 2013

2013-02-28T11:03:00.000-08:00

In August 2012, M & T Bank announced its acquisition of New Jersey based Hudson City Savings Bank. The completion of the merger and full transition is expected to be implemented by May 2013.

As change-over plans were being made, reports published in mid February indicated that 384 Hudson City employees would be laid off. However, that actual layoff count will be 28 persons lower.

Just this week, M&T filed its formal WARN notice with the NJ Department of Labor and Workforce Development. In that, M&T indicated that it would lay off 356 workers effective May 3, 2013.

The positions being eliminated due to redundancy are jobs in the bank's back office, human resources, accounting, finance and treasury, and I.T. areas. Hudson City employeed 1,688 workers, which means that over 21% of the Hudson City staff are being laid off. It is anticipated that most of the job cuts will occur in Hudson City's Paramus NJ headquarters building, and not in the local community bank branches.

Most of those who will be unemployed have already been notified and will receive severance.

Sources:
M&T to cut 384 Hudson City jobs mostly in Paramus
M&T takeover of Hudson City Savings resulting in 384 layoffs
Nearly 400 Hudson City Savings Bank employees to lose jobs in layoff

130 Contech Casting employees laid off last Friday

2013-02-27T11:18:00.000-08:00

Contech Castings, a die-cast automotive parts manufacturer in Auburn Indiana, confirmed that it laid off 130 of its workers on Friday February 22, 2013. This total represents approximately 50% of entire staff. Most of the workers were machine operators and earned between $10 to $15 per hour.

The workers affected were informed of their status and laid off immediately. The cause for the layoffs was that Contech had lost a contract with one of its major customers. As a result, Contech could not afford to maintain a larger staff.

Contech's parent company has changed hands about 3 times since Contech was founded in 1950. It's present owner is Revstone LLC, who had filed for bankruptcy protection in December 2012.

While Contech itself is not bankrupt, the layoff move was intended to keep Contech solvent until new customers are found.

Sources:
Auburn parts supplier cuts 130 jobs
130 layoffs reported at Contech plant in Auburn
Contech lays off 130 workers in Auburn

300 or more JC Penny Headquarter employees in Plano TX got the axe this week

2013-02-23T01:30:00.000-08:00

Reports are confirmed that at least 300 J.C. Penny Co. employees who worked at the Plano TX home office were laid off this week. This represents approximately 10% of its HQ staff there.

Of the workers who lost their jobs, 75 were in the legal, human-resources, and IT departments. Plus, 20 fashion watchers, and an undisclosed number of designers and other personnel were let go. All of these layoffs occurred during the week after President's Day holiday (February 19-22, 2013).

A review of the current Texas Workforce Commission WARN notices fails to locate these anticipated layoff announcements.

Since the new chief executive Ron Johnson (previously at Apple) took over in November 2011, about 950 other workers were laid off during 2012.

Sales have been falling at the national retailer, and more JC Penny layoffs may be coming in the future.

Sources:
How Penney served up Texas Toast
J.C. Penney confirmed that a small number of people were let go at its Plano headquarters Reports: J.C. Penney Plans More Layoffs at Headquarters

450 at Abbot Vascular in California lost jobs on Feb 21 2013

2013-02-22T07:11:00.002-08:00

Yesterday, February 21 2013, Abbot Vascular informed 450 of their employees that they no longer had a job. The majority of the latest job losses were at the Temecula location on Ynez Road, but some were at Zevro, its French Valley packing and distribution center, as well. The exact breakdown of layoffs has not been published, either by location or job classification.

Abbot is a medical device manufacture that appears to be hit hard by the new Obamacare taxation policies. Since January 2012, it has laid off about 1,000 workers (including these 450), and its workforce is now around 2,000 in Temecula (and 5,500 in all of California).

The current State of California Employment Development Department WARN notices do not reflect these recent layoffs. However, Abbot had filed WARN notices in 2012 indicating previous layoffs in that year.

Abbot began downsizing the Temecula facility in 2007. It then had subsequent layoffs in 2010 and 2012. The company announced that it plans to continue to operate this facility although at a reduced staffing level.

Sources:
Abbott Cuts 450 Jobs At Its Temecula Plant
TEMECULA: Abbott cuts another 450 jobs

All 677 Gargiulo Incorporated farm workers in Somis CA losing jobs on April 1 2013

2013-02-21T10:06:00.001-08:00

Gargiulo Inc filed a WARN notice with the State of California Employment Development Department indicating that they would be closing their Somis CA farm and packing operations on April 1, 2013.

The Somis facility employees 677 non-union workers in various capacities. Among these, are 486 farm workers (managers, pickers, spray applicators and mechanics). Plus, they have 191 people that work in its packing operation (forklift operators, quality control, receiving and boxing).

All of the 677 employees will lose their jobs when the facility closes.

The Gargiulo Somis farm produced tomatoes, strawberries, plus additional fruits and vegetables that were grown, packed and shipped worldwide.

Last July 2012, Gargiulo workers in Firebaugh CA voted to join the United Farm Workers of America union. Fearing that the Somis workers would follow suit, or because of increased union labor costs, may be the reasons why Gargiulo decided to shut down the Somis farming operations.

Sources:
Gargiulo to close California packinghouse
Farm company announces closure of Somis location
Somis farm, packing plant to close; more than 600 to be affected

695 to be laid off by Homeward Residential workers in Florida and Texas

2013-02-15T10:22:00.001-08:00

Homeward Residential Inc has filed WARN notices in Texas and Florida indicating that it would be laying off personnel in both states.

All together, Homeward will layoff a total of 695 workers. This is broken down as: 325 employees in Coppell and Addison Texas; and, 370 employees in Jacksonville Florida.

The layoffs will begin on April 15 2013 and continue for the next four months, ending on August 15 2013. The affected employees include staff in the legal, business analysis, accounting, and claims areas.

Homeward is the 13th largest mortgage servicer in the United States.

The company did not provide specific reasons for these layoffs.

However, Homeward was acquired by Ocwen Financial in December 2012. Besides Texas and Florida, Homeward has offices in New Jersey and India.

Sources:
Homeward Residential to lay off 325 in Coppell, Addison
Mortgage Servicer to Lay Off 370 From Jacksonville Office
Homeward Residential laying off 370 in Jacksonville
Homeward Residential to lay off 370 in Jacksonville

433 National Beef Packing Co. employees losing jobs by April 13, 2013

2013-02-14T10:36:00.001-08:00

On Tuesday, the National Beef Packing Co. informed their employees that a total of 433 workers would be laid off by April 13, 2013. The job cuts are a result of one of its major customers transitioning away from this supplier of case-ready beef. Last October, National lost its contract with Wal-Mart which was a significant account for them.

The job cuts will made at two locations: 150 people at Hummel's Wharf, PA; and 283 people at Moultrie, GA.

The layoffs will be staggered. However, 70 employees will be unemployed by this Friday, February 15th. The remainder of the employees will lose their jobs by April 13th.

National Beef is the 4th largest beef packer in the United States. It indicated that it intends to keep the facilities in both locations open, albeit with reduced staffing levels. It currently employees approximately 9,100 workers, which means that about 4.75% of the staff will be let go.

Sources:
National Beef announces layoffs
National Beef Packing laying off 283 in Georgia
National Beef to lay off 150 workers
National Beef to lay off more than 400 workers

132 Akron General Health System workers laid off

2013-02-12T09:46:00.000-08:00

The Akron General Health System in Akron Ohio announced that it notified 132 employees that they were being laid off on Friday February 8 2013. This represents 2.53% of its total 5,200 member staff.

The reason for these job cuts was because the healthcare system did not meet its budget target in 2012. Patient volume for elective surgeries, a decline in non-emergency procedures, and changes in governmental payment and regulations were the causes of this revenue decline.

Akron anticipates these staff reductions will save about $12 million in the coming year.

The Akron layoffs were across the board, and included management, non-management, union and non-union positions. It included 8 of 1,097 registered nurses. Additionally, the layoffs were spread throughout Akron's system and included: "Akron General Medical Center, Lodi Community Hospital, Edwin Shaw Rehabilitation Institute, Visiting Nurse Service and Affiliates, three Health & Wellness centers, a physician group and other outpatient locations".

Sources:
Akron General Announces Layoffs
Akron General lays off 132 employees
Akron General will lay off 132 employees

All 434 at Cequent Performance Products losing jobs, layoffs begin on February 22, 2013

2013-02-08T08:35:00.000-08:00

Last December, Cequent Performance Products filed an Indiana WARN Notice stating that it would be closing the Goshen Indiana manufacturing facility and laying off all of its 434 employees by the end of 2013.

Cequent's layoff schedule begins on February 22 and will continue monthly through the end of the year.

The plant closure is a result of Cequent's plan to move all of Goshen's manufacturing functions to Mexico where cheaper labor will replace the union staff.

Subsequent to the notice, the United Steelworkers Union filed a grievance with the hope of delaying the closure until its current contract expires in March 2014. However, a federal judge denied the union's request and authorized the Cequent layoffs to begin.

Sources
Grievance targets Cequent move to Mexico
Cequent Workers in Court; Lippert Eyeing Plant
UPDATE: Cequent can continue move to Mexico

151 at Hoover El Paso to be laid off in March 2013

2013-02-07T10:20:00.000-08:00

The parent company of Hoover, the vacuum manufacturer, filed plans with the Texas Workforce Commission to lay off 151 workers by March 31, 2013. This will reduce Hoover's workforce by half. All layoffs will be made in the El Paso TX facility.

TTI, who owns Hoover, stated that the layoffs are necessary in order to keep the company competitive. TTI, headquartered in Hong Kong, is a supplier of home improvement and construction tools. Besides owning Hoover, it also owns Royal Appliance which also manufactures vacuum cleaners.

The TTI Floor Care North America division is a combination of both Royal and Hoover.

Making the verification of these layoffs difficult is the fact that TTI informed Texas that Royal Appliance is laying off the workers. However, now that both Royal and Hoover are combined, the terminology is synonymous.

To help the displaced workers, TTI has retained Workforce Solutions to help inform the workers about unemployment benefits, training, and job search techniques.

Sources:
Hoover to lay off 151 El Paso workers El Paso Company To Lay Off Workers
Hoover to lay off workers
TTI Floor Care North America - Company History

1,200 NC Daimler workers to be laid off in April 2013

2013-02-06T10:16:00.001-08:00

In recent WARN Notices, Daimler Trucks North America informed North Carolina that it plans to layoff 1,200 employees on April 1, 2013.

The layoffs will be made in 3 locations of its Freightliner manufacturing facilities:

405 workers in Mount Holly,
80 workers in Gastonia, and
715 workers in Cleveland.

The company cites "Decline in production" as the reason for the layoffs.

Daimler also warned workers that it may layoff additional staff in South Carolina, Oregon, and Mexico as well.

Sources:
Daimler Trucks sees 1,300 layoffs at 3 NC plants Daimler truck layoffs coming in NC, SC, Ore.
Daimler Trucks sees 1,300 layoffs at 3 NC plants

Read more here: http://www.newsobserver.com/2013/01/31/2646789/daimler-trucks-sees-1300-layoffs.html#storylink=cpy

(370 - 390) Energizer layoffs of 1,500 employees begin

2013-02-05T10:35:00.004-08:00

Last November 2012, Energizer Holdings announced its plans to eliminate 1,500 employees between 2013 and September 2014.

In line with its restructuring plans, Energizer has now begun the layoff process.

This week, it filed a WARN notice indicating that it would lay off 290 employees in its Maryville Missouri plant effective March 30 2013. This facility, which manufactures alkaline batteries, will cease operations soon.

In addition to this, Energizer filed notice with the North Carolina Department of Commerce stating that it would layoff between 80 to 100 workers in its facilities located in Asheboro NC. These layoffs will be effective around March 15 2013.

Altogether, 370 to 390 employees of the planned 1500 will be terminated by the end of March.

Sources:
St. Louis-based Energizer cutting 1,500 employees in attempt to save $200 million
Energizer to lay off 290 employees in Maryville, Mo.
Energizer files notice to lay off up to 100 in Asheboro

140 Viking Range Corp workers axed by new parent company

2013-02-04T10:50:00.005-08:00

In an email to the Mississippi Business Journal, Middleby Corp. confirmed that it laid off 20% of the Viking Range Corp. workforce on Thursday, January 31 2013.

These layoffs amount to a total of 140 people. The layoffs were immediate and the Middleby spokesman was not sure if the affected workers would severance pay.

The cuts were made from a variety of job classifications, and at least half of those laid off were from Greenwood Mississippi. In addition to the layoffs, Middleby stated that it would close the Ridgeland MS and Memphis TN Viking cooking schools.

Coinciding with the layoffs, the former CEO and Viking founder announced that he would retire from the company as well.

Middleby announced it was buying Viking last December 31st. Due to the sluggish luxury housing market, Middleby aims to increase sales and profits by cutting operating costs.

Sources:
New Viking Range owner cuts 20 percent of workers
Middleby cuts 20% of Viking Range workers
Parent company reduces Viking workforce by 20 percent (Updated)

500 Time Inc. employees laid off yesterday, January 30 2013

2013-01-31T11:18:00.000-08:00

Publishing revenues from advertising and subscriptions are down, forcing Time Inc. to reduce its workforce by 6.25% yesterday. This represents about 500 workers out of its total 8,000 workforce.

The CEO, Laura Lang, circulated a memo to her staff, indicating that the company was forced to reduce its global staff in order to become leaner and more profitable. The layoffs will cut across all of their U.S. domestic and international locations. However, it is expected that approximately half, or 250, of the laid off employees will come from the New York City area.

Among the 21 various magazines that Time Inc. publishes are: Time, Fortune, InStyle, People, Sports Illustrated, and Real Simple.

Time is hoping that its streamlined workforce will be more productive and help to bring the company to profitability.

Sources:
Time CEO Tells Her Staff: Today We Begin The 'Painful Process' Of Layoffs
Time Inc. Layoffs Will Affect 500 Employees As Single-Copy Magazine Sales Dwindle
Time Inc. carries out long-rumored layoffs

900 - 1000 more Boston Scientific workers to be laid off in 2013

2013-01-30T09:33:00.000-08:00

When announcing its fourth-quarter earnings results yesterday, Boston Scientific stated that it plans to layoff an additional 1,000 employees during 2013. This move comes from after the company's net income dropped 44% during the last quarter of 2012. These job cuts are in addition to the 1,200 to 14,000 that it previously announced as part of its 2011 restructuring.

Boston Scientific Corp manufactures various medical devices, such as pacemakers, implantable defibrillators, and heart stents.

It is under economic pressure because of limited growth potential, and because the Affordable Care Act is placing strain on the company's future earnings as a result of the new medical device tax.

Boston Scientific did not specify which employees would be laid off. However, it has major operations in Maple Grove, Plymouth, and Arden Hills Minnesota where approximately 5,000 of its 24,000 workforce is located.

Sources:
Boston Scientific Cutting Up to 1,000 More Jobs in 2013 Boston Scientific plans job cuts, 4Q tops St. view
Boston Scientific announces more layoffs

300 BAE Systems defense workers to be laid off

2013-01-29T04:39:00.000-08:00

The largest manufacturing employer in New Hampshire, BAE Systems, will reduce its workforce by 300 employees and affected workers will be notified by March 4th, 2013.

This represents about 2.73% of its total 11,000 workforce. The bulk of the job cuts will be in New Hampshire where 200 will lose their jobs in Nashua NH. The remaining 100 job losses will be spread across its other facilities in Wayne NJ, Greenlawn & Endicott NY, Manassas VA, and Austin Texas.

The layoffs will affect all disciplines and business units.

BAE is a defense manufacturer, with contracts ranging from targeting & detection components of anti-ballistic missle systems, F-35 Fighter Jets, etc.

The company has indicated that these job cuts are a result of cancelled plans and a lower demand of services due to the winding down of the Iraq and Afghanistan Wars.

These layoffs are not a result of impending sequestration or other debt ceiling constraints. If those go through, then more layoffs may be coming.

Sources:
Updated: BAE Systems to lay off 200 in New Hampshire
BAE laying off 300 workers, most in NH

Read more here: http://www.thenewstribune.com/2013/01/28/2452576/bae-laying-off-300-workers-most.html#storylink=cpy

Another 600 United Airlines layoffs announced

2013-01-25T07:08:00.000-08:00

In an effort to boost earnings and return to profitability, United Continental Holdings (United Airlines) indicated in a conference call that they were going to layoff another 600 employees.

These job cuts will primarily be in management and administration positions across various parts of the country. About 6% of these jobs will be lost. Some of the job losses will be voluntary and empty positions will not be filled. It is expected that many of the laid off workers will be based in Chicago IL.

However, the UAL unionized pilots, flight attendants, and airport ground workers will not be affected.

A little over a week ago, UAL announced that it would be laying off 472 cargo handling employees in Newark NJ as well.

Sources:
United Continental to cut 600 front-office jobs
United Airlines to Cut 600 Jobs
472 United Airlines workers in Newark NJ losing their jobs

260 lose jobs at Lockheed Martin Aeronautics

2013-01-24T07:28:00.000-08:00

Lockheed Martin Aeronautics laid off 260 employees in their Fort Worth Texas facility this month in two separate batches.

The first round of 110 were dismissed on Friday January 4th. Those workers were mostly aircraft assemblers.

The second round of 150 were informed that their last day of employment will be January 25th. Their job classification has not been publicized.

Although Lockheed Martin has received contracts to produce a large number of F-35 fighter jets, it is being pressured by the Defense Department to reduce costs. Further, the threat of sequestration presents financial uncertainty to Lockheed contracts and profits.

Thus, Lockheed is laying off its hourly workers.

Sources
Lockheed / Another 150 workers at Fort Worth

About 110 workers laid off at Lockheed Martin
Lockheed Martin workers worried about layoffs, budget cuts

121 more JP Morgan Chase workers losing their jobs

2013-01-23T11:15:00.000-08:00

In a federal WARN notice, JP Morgan Chase indicated that it was closing its Coppell Texas facility where employees provide assistance to homeowners who are late in paying their mortgages.

This closure means that 121 employees will lose their jobs by March 10th.

This is the second group of workers being laid off by Chase after a settlement with federal regulators was reached by Chase and 9 other major lenders earlier this month. As part of this settlement agreement, a banking regulator mandate requiring an independent foreclosure review process was eliminated.

With this mandate gone, Chase and others have begun to eliminate those workers providing this function.

Two weeks ago, Chase laid off 300 employees in Florance SC who preformed this job. With this new round of 121 workers in Texas, a total of 421 mortgage related jobs are now gone.

Sources:
Chase mortgage unit to lay off 121 workers in light of national mortgage settlement
Layoffs at Chase unit a sign fewer homeowners lag on mortgages