Make us your home page
Instagram

JPMorgan Chase to cut more jobs in Tampa Bay area

Local layoffs for JPMorgan Chase are piling up, as the New York financial services giant plans to cut more than 450 jobs in the Tampa Bay by the end of 2009.

The latest blow: JPMorgan confirmed Friday that it is cutting 300 jobs in its treasury and securities division in Seffner as it shifts that workload to the Philippines and India to cut costs. The cuts, which employees at the company's Highland Oaks complex found out about Thursday, will go into effect over the next 14 months.

The news comes two days after the company notified the state that it is eliminating 93 jobs at its Fountain Square complex near Tampa International Airport. Those workers handled telephone sales calls relating to student loans. Separately, JPMorgan told 75 employees in the mortgage division several months ago that it was eliminating their jobs by the year's end.

Company spokeswoman Nancy Norris said the bay area isn't alone in feeling the impact of JPMorgan's drive for corporate efficiency and shifting out of underperforming businesses.

"We operate so many different lines of business that we have seen similar reductions … elsewhere in the United States," she said.

None of the changes are connected with JPMorgan Chase's acquisition of troubled Washington Mutual, the company said.

Affected workers in the company's treasury and securities division were involved in electronically tracking money around the world. Despite the offshoring push, the company plans to keep Tampa as the unit's main hub.

Norris described the work as very complex operational jobs paying in the range of $35,000, though she was hesitant about estimating average salaries.

Currently, JPMorgan has about 3,800 employees in Tampa, most at either the three-building Highland Oaks or at Fountain Square. JPMorgan owns both campuses, and Norris said there are no plans to sublease space or sell any of the buildings.

Unlike previous bay area layoffs, the latest job cuts will not trigger a need for JPMorgan to reimburse the government funds for any job-creating tax incentives it received, the company said.

Jeff Harrington can be reached at harrington@sptimes.com or (727)893-8242.

JPMorgan Chase to cut more jobs in Tampa Bay area 10/24/08 [Last modified: Tuesday, October 28, 2008 6:52pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Tampa International Airport morphing into a mini-city unto itself

    Airlines

    TAMPA — By the end of the 2026, Joe Lopano wants Tampa International Airport to function as its own little city.

    Artist rendering of phase two of the $1 billion construction expansion of Tampa International Airport. The airport is transforming 17 acres of airport property that will include at least one hotel, retail and office space and a gas station, among other things.
[Courtesy of Tampa International Airport]
  2. Lost Highway: As FHP struggles to recruit, speeding tickets plummet

    State Roundup

    TALLAHASSEE — The number of speeding tickets written by Florida state troopers has plunged three straight years as the agency grapples with a personnel shortage and high turnover.

    State data shows FHP troopers are not writing violations for speeding or other infractions like they did back in 2011, even though there's 1 million more licensed drivers in Florida.
  3. Kidpreneurs — and adults — capitalize on gooey, squishy Slime craze

    Retail

    Aletheia Venator and Berlyn Perdomo demonstrate the stretchiness of their slime. - Berlyn Perdomo and her friend, Aletheia Venator, both 13, make and sell slime which can be seen on their instagram site @the.real.slimeshadyy [JIM DAMASKE   |   Times]
  4. The last farmer of Florida's prized Zellwood corn is thinking of packing it in

    Consumer

    MOUNT DORA — Hank Scott steps out of his pickup between the long rows and snaps off an ear that grows about bellybutton-high on the forehead-high stalks.

    Hank Scott, co-owner of Long and Scott Farms, shucks an ear of corn on the farm in Mount Dora, Fla., on Wednesday, May 10, 2017. The farm specializes in Scott's Zellwood Triple-Sweet Gourmet Corn. LOREN ELLIOTT   |   Times
  5. Law firm's Russia ties prove nothing about Trump

    Business

    The statement

    "Law firm @POTUS used to show he has no ties to Russia was named Russia Law Firm of the Year for their extensive ties to Russia. Unreal."

    Sen. Chris Murphy, D-Conn., stands during a media availability on Capitol Hill, Monday, June 20, 2016 in Washington. A divided Senate blocked rival election-year plans to curb guns on Monday, eight days after the horror of Orlando's mass shooting intensified pressure on lawmakers to act but knotted them in gridlock anyway — even over restricting firearms for terrorists. (AP Photo/Alex Brandon)