Business & Tech

Chase Bank Cutting 730 Positions in Rancho Bernardo

A companywide restructuring will eliminate nearly 15,000 jobs nationwide.

Chase Bank is cutting all 730 jobs in its Rancho Bernardo mortgage servicing office as part of a company-wide restructuring, the San Diego Business Journal reports.

Chase is cutting 15,000 jobs nationwide, including 1,300 positions in California, according to the Journal.

Chase spokeswoman Suzanne Ryan told the Journal that the company ramped up hiring during the economic downturn and housing crisis. Now that the market is improving, the company can no longer keep these extra positions.

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Ryan said that Chase will work to place many displaced employees in other jobs, either within the bank or at other companies.

The earliest San Diego layoffs will not occur for three months, and Chase might keep some employees on for another year until the company’s Rancho Bernardo lease ends, the Journal reports. 

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