A major announcement Thursday involving one of Lexington's largest banks and hundreds of jobs.
27 NEWSFIRST has learned Chase Bank is moving at least 400 jobs out of Lexington.
The bank's loan serving center, now a major part of the downtown Chase building, is being transferred to Louisiana.
The downtown building currently employees about 800 people. This decision cuts that workforce in half.
Employees were told about the cutbacks late Thursday afternoon. 27 NEWSFIRST has learned the employees are being encouraged to transfer to other Chase facilities in other U.S. cities.
The closing is slated for the summer of 2008, although an exact date is not known, and wanted to let employees know as soon as possible . All employees will receive severance pay based on longevity with the company, and will receive assist in finding employment both within and outside of Chase.