Jersey City, NJ – A major workforce reduction is on the way for one of the nation’s largest financial institutions, with JPMorgan Chase set to eliminate more than 100 positions at its Jersey City facility this summer.
According to a Worker Adjustment and Retraining Notification (WARN) filing submitted to the state of New Jersey, the company plans to lay off 134 employees effective June 20, 2026. The filing provides advance notice as required by law for large-scale layoffs, giving affected workers time to prepare for job transitions.
The layoffs are expected to impact employees working at a JPMorgan Chase office in Jersey City, a key hub for the bank’s operations in the Northeast. The company has not publicly detailed which departments or roles will be affected, nor whether the cuts are tied to restructuring, automation, or broader cost-reduction efforts.
JPMorgan Chase, the largest bank in the United States by assets, employs thousands across New Jersey. The Jersey City location has long served as a central base for technology, operations, and support roles tied to the firm’s global banking services.
Layoffs in the financial sector have continued to surface in recent years as institutions adjust to changing economic conditions, evolving technology, and shifting consumer demands. Workforce reductions are often part of broader strategic realignments aimed at maintaining competitiveness.
State labor officials monitor WARN filings to track employment trends and provide resources to displaced workers, including job placement assistance and retraining programs.
Employees affected by the June layoffs are expected to receive additional information from the company regarding severance packages, benefits, and transition support in the coming weeks.
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