JPMorgan Chase announces 6th layoff round as workforce grows by over 4,800

Detailed summary

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Strong earnings are proving to be little protection against job cuts. Throughout 2026, major banks have continued reducing staff even as several report rising revenue and profits.

While reasons vary, the reductions reflect broader efforts to simplify operations, consolidate business functions and redirect resources toward technology.

JPMorgan Chase, the largest U.S. bank by assets, is among the financial giants continuing to eliminate positions despite expanding its overall workforce.

The company has disclosed another round of layoffs in New Jersey, adding to hundreds of previously announced job reductions across multiple states this year.

JPMorgan Chase has disclosed another 91 job cuts at its Jersey City operations, according to the New Jersey Department of Labor's official 2026 WARN archive.

According to the notice, job cuts will occur between Oct. 30, 2026, and Jan. 24, 2027, marking the bank's sixth WARN notice in the state since the beginning of 2026.

Together, the six filings cover 632 positions in Jersey City during 2026.

The state archive does not identify which departments are affected by the latest reductions or explain the reasons behind them.

In a statement provided to NJ.com, JPMorgan said the changes were part of its regular management of business needs, including creating new positions and eliminating others when necessary.

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