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Sep 29, 2016 11:31 AM

Salem to lose 600 jobs in JP Morgan Chase plan


SALEM- A payment processing department for JP Morgan Chase has plans to close its Salem operation.

Company spokesperson Mary Jane Rogers said that beginning in 2018, the office's 600 local employees may either relocate or be offered a severance package, according to a report in the Manchester Union Leader.

Salem's employees will be able to relocate to Dallas, Texas; Tampa, Florida or Tempe, Arizona. The company plans to consolidate work and locations into 19 global hubs.

Rogers said Thursday, "we will continue meeting with them as more information is available about the timing of the move, relocation opportunities and severance as well. This effort could take multiple years."

The financial giant had plans in 2015 to cut thousands of jobs in a streamlining effort.

Chase Commerce Solutions, which started in Salem in the mid 1980s, became part of the Chase operation through acquisitions.

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