JPMorgan Chase has announced job cuts in February and more cuts are expected.
JPMorgan Chase Layoffs: American multinational bank JPMorgan Chase has begun informing employees about job cuts as part of reduction efforts through 2025.
JPMorgan Chase Layoffs: Barron’s has reported, citing people familiar with the matter, that JPMorgan Chase’s managers have begun informing employees. Less than 1,000 employees will be cut in February and the bank plans to announce more cuts in mid-March, May, June, August and September.
JPMorgan Chase Layoffs: A spokesperson for the bank said in an email to the writer that we regularly review our business needs, and adjust our staff accordingly. He also said that we continue to recruit in many areas and work hard to redeploy affected employees. This is part of the routine management of our business and only impacts a very small number of employees.
The bank had a total of 317,233 employees at the end of 2024 and the reduction will represent 0.3% of its total workforce.
JPMorgan Chase Layoffs: The writer also pointed out that the operating environment of the banking sector has improved significantly. JPMorgan Chase, the largest US lender in terms of assets, has earned its highest annual profit ever in the year 2024.
Job cuts at META
JPMorgan Chase Layoffs: Recently, META has started preparing for more company-wide job cuts, while moving to accelerate the recruitment of machine learning engineering. It has given this information to its employees in a memo.
The information said that the jobs of the employees will start ending in most countries, including the US, from 5:00 am local time.
JPMorgan Chase Layoffs: Employees in Germany, France, Italy and the Netherlands will be exempt from the cuts “due to local regulations,” while workers in dozens of other countries in Europe, Asia and Africa will receive notifications between Feb. 11 and Feb. 18, Reuters reported, citing some internal memos.
