Last Updated on February 13, 2025 by IPO Manthan Team
JPMorgan Chase has started laying off employees as part of its downsizing plans for 2025. The first round of job cuts in February affects fewer than 1,000 employees, which is about 0.3% of the bank’s total workforce.
JPMorgan Chase Layoffs in Feb 2025
The company has planned multiple layoffs throughout the year, with additional rounds expected in March, May, June, August, and September. JPMorgan Chase has stated that these layoffs are part of its routine workforce management.
Despite the JPMorgan Chase layoffs in Feb 2025, the bank continues to hire in many areas. It has around 14,000 open positions and added approximately 7,000 jobs in the past year.
The layoffs come at a time when JPMorgan Chase is reporting record profits. In 2024, the bank achieved its highest-ever annual earnings, with profits rising 18% to $58.5 billion. The fourth-quarter earnings alone contributed $14 billion.
A spokesperson for the bank clarified that JPMorgan Chase regularly reviews its staffing needs and adjusts accordingly. The company also aims to redeploy affected employees where possible.
While some employees are facing job cuts, CEO Jamie Dimon has remained firm on work-from-home policies. He has rejected petitions from employees seeking remote work options.
Apart from JPMorgan Chase layoffs in Feb 2025, Meta is also planning company-wide job cuts while focusing on hiring machine learning engineers. This reflects a broader trend in the financial and tech sectors.
As JPMorgan Chase continues its restructuring, more layoffs are expected in the coming months. Employees are advised to stay informed about upcoming workforce changes.