Three financial services giants — Morgan Stanley, Goldman Sachs and JPMorgan Chase — continue their ongoing layoffs this month with hundreds of positions being cut in New York and New Jersey, state databases indicate.
Goldman Sachs plans to permanently eliminate 310 jobs at 200 West St., its headquarters, in New York City, starting June 22, according to a Worker Adjustment and Retraining Notification, or WARN notice, filed with the state.
A Bloomberg report earlier this year indicated Goldman, which employed 46,500 people at the end of 2024, planned to eliminate 3% to 5% of its workforce this spring, in keeping with its annual job cuts. The company was looking to trim vice presidents from the payroll, according to The Wall Street Journal.
Morgan Stanley, meanwhile, has notified authorities it will cut 230 jobs at seven offices in New York City starting June 17.
In March, Bloomberg reported that Morgan Stanley expected to cut about 2,000 jobs this year and that the eliminations, which were to exclude advisors, were planned before recent market volatility. The company employs more than 80,000 in over 40 countries.
JPMorgan Chase has notified authorities in New Jersey that it will lay off 145 people in Jersey City effective June 23. (That follows 121 layoffs in early May and precedes 63 set for August.)
JP Morgan employed more than 187,000 people in North America and more than 300,000 globally at year-end 2024. The company’s website says its Jersey City campus supports more than 4,000 employees.
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