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On Monday, JPMorgan Chase & Co. (NYSE:JPM) initiated a series of job cuts, with some U.S. employees being informed of their layoffs on Sunday, according to Barron’s. The layoffs, which have impacted staff in the Houston offices, are part of a broader plan by the bank to reduce its workforce throughout the year 2025.
The bank has scheduled further layoffs for mid-March, May, June, August, and September. According to sources, not all areas of the business will be affected in each round of cuts.
The decision to reduce staff comes as JPMorgan Chase & Co. aims to adjust its operations and staffing in response to shifting business needs. Employees affected last week have already been notified, with more notifications expected in the coming months as per the planned schedule.
JPMorgan Chase & Co. has not publicly disclosed the exact number of jobs that will be eliminated or the specific areas of the business that will see reductions. The bank’s approach to conducting layoffs in stages suggests a strategic reassessment of its workforce requirements across various departments.
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