The latest round of job reductions at JPMorgan Chase will remove 172 positions from the bank’s Jersey City office, according to a Worker Adjustment and Retraining Notification filed with New Jersey labor officials. The layoffs were listed as effective Wednesday.
What this means for Jersey City workers
The filing marks the fourth notice from JPMorgan Chase in New Jersey this year and raises the total number of state workers affected by the bank’s notices in 2026 to 477. For Jersey City residents, the reductions represent continued staffing changes at one of the city’s largest employers and could affect ancillary businesses that serve bank employees.
- 172 employees affected in this Jersey City filing, effective Wednesday.
- 477 total employees affected across New Jersey this year by JPMorgan Chase notices.
- The company reports more than 12,500 employees in New Jersey and nearly 900 open positions in the state.
JPMorgan Chase spokesman Michael Fusco said the reductions reflect routine adjustments to staffing as the bank aligns resources with business needs. He added the firm is "working hard to redeploy" affected workers and emphasized the bank’s ongoing presence in New Jersey.
"This is part of our regular management of the business. We regularly review our business needs and adjust our staffing accordingly – creating new roles where we see the need or reducing positions when appropriate,"
The bank’s filings show a pattern of periodic staff reductions in the state this year. Previous notices include a February filing for 120 employees with an effective date of May 3, a March filing for 134 employees effective June 20, and a May notice covering 51 employees in Jersey City listed with an Aug. 3 effective date.
| Filing month | Employees affected | Effective date |
|---|---|---|
| February | 120 | May 3 |
| March | 134 | June 20 |
| May | 51 | Aug. 3 |
| July | 172 | Effective Wednesday |
Local context and broader company figures
Jersey City residents will recognize JPMorgan Chase as a major local employer; the company says it has more than 12,500 employees across New Jersey and nearly 900 open roles in the state. Nationally, the bank reported headcounts of 317,233 at the end of 2024 and 318,512 at the end of 2025.
City officials and workforce agencies have not issued statements tied to this specific filing. State law requires employers to notify labor authorities through the WARN process, which provides information to affected workers and local agencies about planned layoffs and allows time for transition services.
For workers impacted by this week’s layoffs, the company’s statement says it is trying to redeploy employees where possible. Residents seeking assistance with job placement, training or unemployment resources can contact New Jersey’s Department of Labor & Workforce Development.
As the year progresses, further notices from large employers will continue to affect Jersey City’s labor market. Tracking filings and available openings from major firms remains important for workers and local businesses that depend on steady employment in the financial sector.
Reporters will follow up with state officials and the company for details on severance, redeployment numbers and any city-level impacts as they become available.
