Thu Feb 13 10:24:47 UTC 2025: ## JPMorgan Chase Announces Minor Layoffs, While Meta Prepares for Further Cuts
**New York, NY –** JPMorgan Chase, the largest US bank by assets, has begun notifying employees of upcoming job cuts, affecting a small fraction of its workforce. According to Barron’s and Reuters, fewer than 1,000 employees will be laid off in a series of phased reductions throughout 2025, starting in February and continuing into September. The bank stated that these adjustments are a routine part of managing its business and represent less than 0.3% of its 317,233-person workforce. Despite these cuts, JPMorgan Chase reported record annual profits in 2024.
This news comes as the banking sector enjoys an improved operating environment. However, the layoffs stand in contrast to the continued hiring in other areas within the bank, and the company is working to redeploy affected employees.
Separately, Meta is preparing for further company-wide layoffs, although specific numbers have not yet been released. The social media giant’s internal memo indicated that affected employees in most countries will receive notifications starting at 5 a.m. local time. However, employees in several European countries will be exempt due to local regulations, with others in various regions receiving notifications over the next week. This announcement follows Meta’s recent focus on hiring machine learning engineers.
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