JPMorgan Chase is planning a fourth round of layoffs at its Jersey City offices in 2025, the nation’s largest bank said in public filings.
This round will go into effect on Sept. 22 this year and affect 88 employees, bringing the total trimmed head count this year in Jersey City to 417 workers, said a notice filed with the New Jersey Department of Labor.
Layoffs at Barclays
Meanwhile, British banking giant Barclays said it would lay off 78 employees in June and July, on top of 69 handed pink slips in January.
James Hughes, an economist at Rutgers University, previously told NorthJersey.com that white-collar jobs in banking and finance have become saturated after a two-year hiring spree that followed the COVID-19 pandemic.