JPMorgan Chase Trims Jersey City Staff with Another Round of Layoffs

JPMorgan Chase has announced another round of layoffs at its Jersey City office, cutting 63 employees as part of its efforts to match staffing levels with business needs. This marks the fifth time this year that the bank has let go of staff at this location.

The total number of layoffs at the Jersey City office now stands at 541 for 2026. The latest job cuts are set to take place between August and mid-November, according to a state filing.

JPMorgan Chase cites staffing levels as the reason for the cuts, with the bank looking to reduce its workforce in areas where automation and AI can replace human employees. In some areas, AI has helped reduce staff by up to 40%.