JPMorgan reportedly starts first round of layoffs with more cuts later this year

Group 1 - JPMorgan Chase plans to implement a series of layoffs throughout 2025, starting with fewer than 1,000 employees in February [1][3] - Additional job cuts are expected to be announced in mid-March, May, June, August, and September [1][3] - A spokesperson stated that the bank regularly reviews its business needs and adjusts staffing accordingly [2] Group 2 - JPMorgan reported a record annual profit, benefiting from a rebound in markets during the fourth quarter [4][5] - The bank's workforce was 317,233 employees at the end of 2024, indicating that the layoffs will impact a very small number of employees [4] - Despite the layoffs, JPMorgan continues to hire in various areas and is working to redeploy affected employees [4]