JPMorgan Chase (JPMorgan) has kicked off one of its several planned workforce reductions in 2025 — eliminating hundreds of jobs in February.
According to reports, the bank is cutting fewer than 1,000 roles while it has 14,000 open positions.
“We continue to hire in many areas and work hard to redeploy impacted employees,” a spokesperson said — adding that moves like this are part of the “regular management of the business.”
JPMorgan didn’t provide details on when the next planned workforce reduction will take place.
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Samfiru Tumarkin LLP is working to determine if Canadian employees at JPMorgan have been let go.
According to LinkedIn, the bank has more than 600 workers in the country.
If you’re fired or let go at JPMorgan, understanding your legal rights is crucial.
Non-unionized employees in Canada’s banking industry are entitled to severance pay. The amount you’re owed is based on a variety of factors, including your role, tenure, age, and ability to find similar work.
WATCH: Employment lawyer Lior Samfiru delves into severance pay on an episode of the Employment Law Show.
Here’s what you need to know:
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