JPMorgan Chase (JPM.US) launches layoffs as it achieves record revenue and profits.

According to informed sources, JPMorgan Chase (JPM.US) management has begun notifying some employees of layoffs last week, as part of a series of layoffs planned by the bank by 2025. Sources said that JPMorgan Chase notified some American employees of layoffs on February 5, at least several of whom were from the Houston office. The bank plans to carry out more layoffs in mid-March, May, June, August, and September, but not all business departments will be affected. Currently, JPMorgan Chase has not disclosed the specific number of layoffs for the year, with an estimated scale of fewer than 1,000 people. As of December 2023, the bank had approximately 317,000 employees. A spokesman for JPMorgan Chase said on Wednesday that the layoffs were "routine adjustments in business management, affecting only a very small number of employees." The spokesman emphasized, "We regularly review business needs and adjust personnel accordingly - creating new positions where needed and reducing positions at appropriate times." He added that the bank's overall strategy has not changed, and the company continues to invest throughout economic cycles. Despite reducing positions, JPMorgan Chase's financial performance remains strong. In 2024, JPMorgan Chase recorded record revenue and profits, driving the stock price to continuously reach new highs recently. The stock has risen by 56% in the past year and has hit new highs nine times in 2025 so far. However, the announcement of layoffs has caused anxiety and anger among employees, further fueling efforts to organize labor unions. Employees' dissatisfaction is increasing on internal forums, social media, and in a petition circulating online. In addition to layoffs, issues such as the mandatory five-day office work policy soon to be implemented in March, dissatisfaction with salary and bonus adjustments have also become focal points of employee complaints. Despite the ongoing layoffs, JPMorgan Chase says it is still recruiting in multiple areas and working to relocate affected employees. The bank currently has about 14,000 vacant positions and has added about 7,000 positions in the past year.