JPMorgan Chase stock: Bank cuts 91 jobs in New Jersey

JPMorgan Chase has disclosed 91 additional job cuts at its Jersey City operations, according to a report published by Charlotte Observer on Friday, November 13, 2026. The notice adds to a year of regional reductions even as the bank continues to expand its overall workforce.

Local cuts, broader hiring

The New Jersey Department of Labor notice covers job cuts scheduled between October 30, 2026, and January 24, 2027. It is JPMorgan's sixth WARN notice in the state this year, bringing the six filings to 632 positions in Jersey City.

JPMorgan said the changes reflect regular management of business needs, including creating new positions and eliminating others when necessary. The bank also said it employs more than 12,500 people in New Jersey and has about 850 open positions.

What the workforce figures show

The regional cuts contrast with continued company-wide hiring. JPMorgan employed 322,964 people worldwide as of September 30, 2026, compared with 318,153 a year earlier, according to the report's account of the bank's latest Form 10-Q. That represents an increase of 4,811 employees year over year.

The bank added employees in each quarter of 2026, with headcount rising by 4,452 from December 31, 2025, through September 30, 2026. The figures point to targeted restructuring rather than a broad reduction in staffing.

AI adds a separate question

JPMorgan has continued investing in artificial intelligence and automation. Chief Financial Officer Jeremy Barnum discussed the potential for generative and agentic AI to improve productivity during the October earnings call, but the bank has not attributed the latest New Jersey layoffs to AI.

The Charlotte Observer report also noted that JPMorgan's third-quarter net income rose 6% year over year to about 15.3 billion US dollars, while managed revenue increased 8% to 50.9 billion US dollars. Expenses rose 12% to 27.3 billion US dollars, keeping operating efficiency and workforce allocation relevant for investors.

JPMorgan Chase stock traded at 311.30 euros on Lang & Schwarz at 16:11 CET on Friday, November 13, 2026.

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