JPMorgan Chase & Co. is laying off about 400 employees in its consumer home-lending business as parts of the market slow down, people familiar with the matter said.
The bank, one of the largest mortgage lenders with about 20,000 consumer home-lending employees, is in the midst of laying off staff in cities including Jacksonville, Fla.; Columbus, Ohio; Phoenix and Cleveland particularly as mortgage servicing has fallen, the people said. The layoffs account for around 2% of that group.
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