JPMorgan layoffs: Is your job safe after 1,000 cuts?

Big news out of JPMorgan. They’ve started laying off employees. Reports say it could be under 1,000 people. But what does this mean for you?

Here’s what we know:

• Layoffs already hit some Houston offices.
• More cuts are planned throughout the year. Mid-March, May, June, August, and September are the months to watch.
• No one knows the exact number of jobs at risk.

JPMorgan says these cuts are part of “regular management of the business. ” They also point out they have many open positions, around 14,000.

A spokesperson told Reuters they’re still hiring in some areas. And they’re trying to find new roles for those affected. But still. .. is your job safe?

What’s Going On?

Companies often make these kinds of moves. They look at their needs and adjust. Sometimes that means creating new jobs. Other times, it means cutting them.

Think of it like a garden. You plant new seeds. You also have to prune back what’s not growing well. It’s all about keeping things healthy.

Record Profits, But Still. ..

Here’s the confusing part. JPMorgan had a great 2024. Record profits, in fact. So why the layoffs?

Maybe they’re preparing for changes in the economy. Maybe they’re streamlining operations. Whatever the reason, it’s a reminder that no job is ever 100% secure.

What Can You Do?

You can’t control what JPMorgan does. But you can control your own career.

Here are a few ideas:

• Stay valuable. Keep learning new skills. Make sure you’re good at what you do.
• Network. Build relationships with people inside and outside your company.
• Be prepared. Update your resume. Know your worth.

Layoffs are never easy. But being proactive can help you weather the storm. And maybe even come out stronger on the other side.