JPMorgan Chase plans to lay off 58 more people in Jersey City, New Jersey, effective Nov. 24, adding to the nearly 330 job cuts previously made there this year.
The financial services firm disclosed the plans in a Worker Adjustment and Retraining Notification, or WARN notice, to New Jersey officials this week. The move comes days after JPMorgan told California authorities that it was eliminating 99 jobs in San Francisco, effective Aug. 27.
In June, the company notified New Jersey authorities that it would lay off 145 people in Jersey City effective June 23. That followed 121 layoffs in early May and preceded 63 set for August.
A JPMorgan representative told ThinkAdvisor this week: "We regularly review our business needs and adjust our staffing accordingly — creating new roles where we see the need or reducing positions when appropriate. 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 14,000 open positions."
JPMorgan and other financial services firms have been carrying out layoffs throughout the United States. The company employed over 87,000 people in North America and more than 300,000 globally at the end of 2024.
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