JPMorgan Chase is trimming roles as it accelerates its use of artificial intelligence, signalling how the technology is reshaping work even at firms that are still hiring overall.
Targeted cuts
The bank said it would eliminate 120 positions located in Jersey City, New Jersey. JPMorgan has not announced major company-wide layoffs in 2026, and its workforce remains broadly stable, but it is "redeploying" employees affected by AI-driven efficiencies into new roles.
Investing through change
The largest US bank continues to invest heavily in AI across trading, operations and customer service. The Jersey City reduction illustrates the balancing act facing big employers: cutting some roles automation can absorb while expanding teams elsewhere.
Sources: AdvisorHub, Yahoo Finance.