Tuesday, September 24, 2013

Mortgage Lay Offs In Phoenix. Is Tucson Next?

Posted By on Tue, Sep 24, 2013 at 12:00 PM

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You know it can't be good when you hear about job loss in the banking sector. Cronkite News reports some troubling economic news:

JP Morgan Chase, which has been the subject of various federal inquiries, has laid off nearly 500 employees in Phoenix.

The articles also says the bank is expecting to cut loose 17,000 more mortgage jobs by early 2014. I was talking to someone from my old job at Citi Mortgage in Rita Ranch, and they said this could also be the case for the originations and refinance departments here. I wouldn't be surprised if this was rumor, but 760 Citi employees in Nevada received the laid off notice yesterday.

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