Chase cuts 100 downtown Indianapolis worker because of home-equity loan slowdown

JPMorgan Chase has cut 100 workers from its downtown operations in Chase Tower, according to spokeswoman Nancy Norris.

All of the workers are in Chase's home-equity lending processing area, Norris said. Chase eliminated another 350 workers in other cities, primarily in Rochester, N.Y.

The cuts are "due to the slowdown in home-equity lending," Norris said. The workers supported back-office operations for Chase nationwide.

Employees were notified earlier this week, Norris said.

The loss will occur over 60 days. Then, the bank will employ about 2,400 in Indianapolis.