As Layoffs Keep Coming at JPMorgan, Here’s How to Play JPM Stock

JPMorgan Chase & Co. (JPM) is facing an unusual disconnect as the bank is delivering record profits while simultaneously accelerating workforce reductions. Recent layoffs have pushed JPMorgan’s announced job cuts to their highest level since 2015, with reductions spanning consumer banking, commercial and investment banking, and technology operations. The latest cuts include a new 63-employee reduction at the bank’s Jersey City office, following several other Worker Adjustment and Retraining Notifications (WARN) notices in New Jersey and Texas. Tracked filings reveal over 750 JPMorgan positions affected in 2026 so far, although WARN data does not capture every workforce reduction.

The timing is notable because JPMorgan’s underlying business remains exceptionally strong. In the second quarter of 2026, the bank generated a record $21.2 billion in net income, while net revenue climbed 28% year-over-year (YOY) to $57.3 billion. CEO Jamie Dimon has acknowledged that artificial intelligence is already allowing JPMorgan to reduce jobs in certain departments, even as many affected employees are being moved into other roles.