Laid off from JPMorgan Chase.
In the record we track, JPMorgan Chase hasn't announced a single big layoff. Since 2025 the cuts have come a few hundred at a time, every few months, mostly in operations and support functions. Its spokesman has called them part of regular management of the business.
At a glance
What's known about JPMorgan Chase severance and layoffs
- Plano, Texas and Jersey City, New Jersey · Where the 2026 cuts landed
- 244 jobs, Plano, Texas · Largest filing since 2025
- Not published · Severance formula
- Base salary and length of service · What the severance plan pays on
- Active-employee rates for up to six months · Health coverage after the last day
- Internal redeployment and outplacement · Support reported with cuts
- Barron's reported cuts planned across six months · The 2025 rounds
Recent JPMorgan Chase layoffs
244 jobs cut as the Plano fraud call center closed
In June 2026 JPMorgan Chase told the Texas Workforce Commission it would close a call center at its Plano campus and cut 244 jobs, ending an inbound call center function inside Consumer & Community Banking. Employees were notified on 23 June and the first terminations were expected to begin on 21 August 2026. New Jersey ran on its own clock, with a notice covering 172 Jersey City employees effective the week of 10 July.
Previous rounds
JPMorgan Chase layoff history
The two names people search for belong to one company, and the filings pull them apart. At the end of 2025 JPMorgan Chase counted 318,512 employees worldwide, up from 317,233 a year earlier. Inside that total the Consumer & Community Banking line, which is where the Chase brand lives, moved the other way, from 144,989 people to 144,196, and the North America region dropped by 1,971. The firm added 1,279 people and the consumer bank lost 793 across the same twelve months, which is arithmetic across two annual reports rather than a running count.
The cuts on file look like operations work. In June 2026 the firm told the Texas Workforce Commission it would close a call center at its Plano campus and cut 244 jobs, ending an inbound call center function inside that same Consumer & Community Banking line. The position list attached to the notice ran heavily to fraud titles, with 111 Fraud Specialist I and 93 Fraud Specialist II roles making up 204 of the 244. Employees were notified on 23 June, given a 60-day notice period, and the first terminations were expected to begin on 21 August. The notice also recorded that the affected employees weren't represented by a union and that bumping rights didn't exist, so seniority gave nobody a claim on somebody else's job.
New Jersey is the address that keeps coming back. Our tracker holds 51 filings under this company's names all time, 12 of them since the start of 2025 covering 1,324 jobs across California, New Jersey and Texas, and seven in 2026 alone covering 838 jobs. Most of the recent ones sit in Jersey City. NJ.com dated those 2026 notices one at a time, a February filing for 120 people effective 3 May, a March filing for 134 effective 20 June, a May notice for 51 effective 3 August, and a fourth covering 172 employees effective the week of 10 July. That gap matters, because a New Jersey date usually marks the day the job ends rather than the day the notice was filed.
The severance terms sit in a filing rather than in a press release. The 2026 proxy says benefits under the broad-based U.S. Severance Plan run on base salary and length of service at termination, that employees stay eligible for coverage at active-employee rates under certain welfare plans, medical and dental among them, for up to six months after employment ends, and that base salary above $400,000 a year is disregarded when severance amounts are determined. It also says severance and any discretionary payment are subject to executing a release in the firm's favor and to certain post-termination restrictions. What the proxy states nowhere is a weeks-per-year schedule, and the word severance appears nowhere in the 2025 annual report, so a precise formula found somewhere else didn't come from either filing.
That gives you four things to hold your own paperwork against. Check whether payment is conditioned on a release and what signing it gives up, check the exact date your medical and dental coverage ends, and if your base salary runs above the $400,000 line, expect the calculation to stop there. The rounds on file came with help finding other positions inside the company, relocation for certain roles, and outplacement, and the firm said of both Plano and Jersey City that it was working to redeploy people, so an internal move is worth asking about. Our WARN filing tracker shows where the notices land, and lately that has been New Jersey, Texas and California.
Reporting on previous JPMorgan Chase layoff rounds
2026 · 244 jobs at the Plano campus in Texas as the firm closed an inbound call center inside Consumer & Community Banking, about 2 percent of a site where it says it employs more than 12,500 people, alongside a New Jersey notice covering 172 Jersey City employees effective the week of 10 July
Affected employees were told they were eligible for the firm's severance pay plan, help finding other positions inside the company, relocation for certain roles, and outplacement. The Plano notice recorded no union representation and no bumping rights.
2025 · Barron's reported fewer than 1,000 cuts in February and further rounds planned for mid-March, May, June, August and September, from sources who spoke on condition of anonymity, including 121 roles in Jersey City effective by May
The spokesman said the cuts came from the bank regularly reviewing its business needs and adjusting staffing, and that it was working to redeploy affected employees. No severance amounts were reported for these rounds.
How JPMorgan Chase's layoffs compare to other companies
The reductions on record here arrive as site-level WARN notices of a few hundred jobs, and those notices supply no single company-wide total to set beside another employer's. What compares is the filing history, and our tracker holds 51 notices under this company's names all time, counting only what the states publish.
What to do after being laid off from JPMorgan Chase
- File for unemployment in the state where you worked. Benefits run from your filing date, and severance usually doesn't block you. JPMorgan Chase's biggest hubs: New Jersey, Texas, California. Somewhere else? Every state is here.
- Apply for financial and hardship assistance. Unemployment supplements income, but food benefits, health coverage and utility help are often available as well. Here's some of what JPMorgan Chase's hub states run: New Jersey, Texas, California, and every other state is here.
- Mind the health insurance window. Losing coverage opens a 60-day special enrollment period, and an ACA plan usually beats unsubsidized COBRA. Compare your options before the employer coverage lapses, and read how the COBRA clocks run if you are weighing it seriously.
- Get your real runway number. Severance plus savings divided by reality. The calculator takes five minutes.
- Know which clocks are already running. Severance review windows, COBRA election, visa grace periods, and 401(k) rollovers all run on federal deadlines that started at termination. All five deadlines are here.
JPMorgan Chase layoff and severance questions
What severance does JPMorgan Chase pay laid-off employees?
There's no published formula. The firm's 2026 proxy says benefits under its broad-based U.S. Severance Plan run on base salary and length of service at termination, that employees stay eligible for medical and dental coverage at active-employee rates for up to six months after employment ends, and that base salary above $400,000 a year is disregarded when severance amounts are determined. The proxy states no weeks-per-year schedule, and the word severance appears nowhere in the 2025 annual report. In the Plano round the firm said affected employees were eligible for its severance pay plan alongside outplacement. Your own separation agreement is the version that governs your money.
Does JPMorgan do mass layoffs?
Not as one announced company-wide number, on the record we track. Since the start of 2025 our tracker holds 12 separate filings covering 1,324 jobs across California, New Jersey and Texas, and the largest listed 244 jobs at a single site, which is big enough to count as a mass layoff for the people in it. What the record doesn't show is one total announced for the whole company. Barron's reported in February 2025 that fewer than 1,000 people would go that month, with further rounds planned for five more months of that year, from sources who spoke on condition of anonymity. On the second-quarter 2026 earnings call the chief financial officer said expenses were up 15 percent year on year, driven partly by growth in front office hiring, so cutting and hiring were running in the same quarter.
Are Chase layoffs and JPMorgan layoffs the same thing?
Same company, different parts of it. Chase is the consumer brand of JPMorgan Chase, and its business line, Consumer & Community Banking, is where the documented cuts have landed. That line employed 144,989 people at the end of 2024 and 144,196 at the end of 2025, while the firm overall grew to 318,512. The Plano notice named an inbound call center inside that same line. The branch network is a separate record, with 16 closure notifications filed with the Office of the Comptroller of the Currency from March 2026 against a stated plan to open more than 160 branches that year, and none of those branch filings says anything about staff losing jobs.
Where has JPMorgan Chase filed WARN notices recently?
California, New Jersey and Texas, on our tracker, which holds 51 filings under this company's names all time and seven in 2026 covering 838 jobs. Jersey City is the address that repeats. NJ.com dated the 2026 New Jersey notices as a February filing for 120 people effective 3 May, a March filing for 134 effective 20 June, a May notice for 51 effective 3 August, and one covering 172 effective the week of 10 July. Texas came through Plano. Our tracker only holds what the states publish, so a site with no filing behind it leaves no trace there.
Does JPMorgan Chase severance require signing a release?
The 2026 proxy says severance benefits and any discretionary payment are subject to executing a release in the firm's favor and to certain post-termination restrictions. It doesn't spell out what the release gives up or what those restrictions cover, so read the separation agreement itself for those terms. The same proxy says that where the firm ends employment for reasons other than cause, employees may be considered, at the firm's discretion, for a cash payment in place of an annual incentive award.
Where do I file for unemployment after being laid off from JPMorgan Chase?
In the state where you worked, not where the company is headquartered. JPMorgan Chase's biggest U.S. hubs are New Jersey, Texas, California. Severance usually doesn't block you from filing, and benefits run from your filing date, so file the same week.
Is it OK to file for unemployment after a layoff at JPMorgan Chase?
Yes. Unemployment insurance is funded by payroll taxes employers pay on wages, the claim never appears on credit reports or background checks, and future employers cannot see it. If the hesitation itself is the obstacle, whether filing is OK has its own article.
What happens to my health insurance after a layoff at JPMorgan Chase?
Your plan sets the end date rather than the law, so the separation packet is where that date actually lives, and it is often the last day of the month rather than your last day of work. After coverage ends, COBRA lets you keep the identical plan by paying the whole premium yourself, up to 102 percent of what the plan really costs, which lands as several times the payroll deduction you were used to. You get 60 days to elect, counted from the later of coverage ending or the election notice arriving, and electing reaches the coverage back to the day the old plan stopped so no gap exists. How continuation coverage works walks the timing, and whether to take it rather than a marketplace plan is a separate decision.
Should I sign the severance agreement right away?
First pin down how much review time you actually have. If you're 40 or older, federal law gives you 21 days to consider an agreement that waives age claims, 45 in a group layoff, and a waiver signed under a shorter deadline can be invalid. If you're under 40, no federal window applies and the deadline in your packet may be real, so confirm it in writing and ask for more time if you need it. Use whatever window you have to read the release terms, especially non-disparagement and no-lawsuit clauses, and don't stall past a real deadline, because offers can be withdrawn.
Can I collect unemployment if I got severance from JPMorgan Chase?
Usually yes, though some states delay benefits until severance pay periods end, and lump sums are treated differently than salary continuation. Check your state's rules on our state benefit pages, and file immediately either way so your claim date is locked in.