JPMorgan Chase informed New Jersey officials that it plans to cut 88 jobs in Jersey City effective Sept. 22, adding a fourth layoff round in the city this year.
The financial services giant posted a Worker Adjustment and Retraining Notification, or WARN notice, this month, a state website shows.
Chase previously announced plans to lay off 145 people in Jersey City effective June 23, along with 121 in early May and 63 in August.
"This is part of our regular management of the business. We regularly review of our business needs and adjust our staffing accordingly — creating new roles where we see the need or reducing positions when appropriate," a Chase spokesperson told ThinkAdvisor in an email Monday.
"Our strategy has not changed, and we run the company to invest through the cycle. We continue to hire in many other areas and work hard to redeploy impacted employees. In the last year, we added more than 7,000 jobs and currently have more than 14,800 open positions.
"We are committed to New Jersey and have more than 12,000 employees working in the state with more than 575 open positions," the spokesperson said. "This impacts a small number of local employees and we are working hard to redeploy them."
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