JPMorgan Chase is shutting down its student lending line of business in Tampa.
Sixty-five workers will lose their jobs whenChase Student Lending exits the Tampa market, according to a Worker Adjustment and Retraining Notification filed March 26 with the Florida Department of Economic Opportunity.
The layoffs are expected to begin on May 25 for workers located at three Chase sites in Tampa: at 4900 Memorial Highway, 4919 Memorial Highway and 4915 Independence Parkway.
JPMorgan Chase (NYSE: JPM) decided in 2013 to get out of the student loan business. Competition from federal government programs and increased scrutiny from regulators limited Chase’s ability to expand the business, Reuters reported.