JPMorgan Chase cuts 63 at Jersey City office, 541 total
Business
JPMorgan Chase is letting go of 63 more employees at its Jersey City office, bringing total layoffs there to 541 in 2026.
The latest round was shared in a state filing, with job cuts set to happen between August and mid-November.
This marks the fifth time the bank has announced layoffs at this location just this year.
JPMorgan Chase cites staffing, AI role
JPMorgan says these cuts are part of its usual efforts to match staffing with business needs.
Interestingly, AI is playing a bigger role, helping reduce staff by up to 40% in some areas.
Still, CEO Jamie Dimon points out that since competitors across the financial sector are adopting the same technology, it doesn't give JPMorgan much of an edge over competitors.