JPMorgan Chase & Co. will lay off 145 mortgage employees in its Chicago and Downers Grove offices. The layoffs begin Nov. 22, spokeswoman Christine Holevas said. She had no further comment.
JPMorgan's cuts were disclosed in a monthly state report in which the bank said "restructuring" was the reason for the layoffs. Large banks with significant mortgage operations in recent months have been laying off employees all over the country. Borrower demand to refinance mortgages has dramatically declined due to higher interest rates since the early summer.
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