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Lagging Auto Financing Business Leads to Bank One Layoffs

September 14, 2004

Bank One Corp. laid off about 100 employees at its offices in Milwaukee. The reason was a drop in demand for auto financing and fewer defaulted mortgages, according to The Business Journal of Milwaukee.

The company laid off 56 employees in auto finance and 44 mortgage collection employees. Company spokesperson Mary Kay Bean said the move was not related to Bank One's merger with J.P. Morgan Chase.

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