Financial services firm JPMorgan Chase is likely to lay off fewer than 1,000 employees in February 2025, a report said. The multinational bank has claimed the layoffs to be "regular management of the business," the report said. They vowed that only "a very small number of employees" would be affected by the decision.
🚨 LAYOFF ALERT - New York 🇺🇸
— The Layoff Tracker 🚨 (@WhatLayoff) February 12, 2025
JPMorgan Chase will layoff 1000 employees expected in February as part of routine business management. pic.twitter.com/2FisLkhwEC
February's terminations will mark the beginning of a series of layoffs that JPMorgan is expected to make throughout 2025, Barron's said in a report. The firm started notifying its US staff of the decision in the first week of February and identified Houston offices to be the first to let go of its staff.
More JPMorgan employees will be without a job by mid-March, May, June, August, and September, the report said. However, there was no information on how many people in all would be terminated by the banking firm by December.
JPMorgan Chase maintains that adjustments are needed so that new roles can be created appropriately. Only if some positions are reduced, better ones can be created, company officials told Barron's. Amidst the news, the firm has some 14,000 open positions to which hiring is being done and at least some of the "impacted employees" would be redeployed, representatives said.
The news breaks not long after Infosys fired around 500 fresh recruits in Mysuru making waves. The terminated staff, including women, were asked to leave the Infosys campus by the evening and were not allowed any alternate arrangements for the night. Since they were no longer part of the company, they were asked to vacate the premises by the end of the day by the firm.
FULL REPORT | Infosys layoffs: At least 300 freshers sacked for failing internal assessments
The move was termed brutal and inhumane by netizens as many of the terminated people were from outside Mysuru.Â
