4,500 layoffs in NJ so far this year, including JP Morgan Chase, UBS

📉 Over 4,500 layoffs announced in NJ in first quarter of 2026

🏦 Major companies like JPMorgan, UBS and Fiserv are cutting jobs

⚠️ Layoffs trending higher than 2025 and far above 2024 levels

New Jersey closed the first quarter of the year with a few thousand layoffs announced by some of the state's largest employers.

By the end of March, JP Morgan Chase had announced two different rounds of layoffs, for a total of 254 employees on notice to find new work.

It was far from the only financial services company to reveal new cuts.

Switzerland-based global financial institution USB, with its sprawling waterfront building in Weehawken, helped close out the month by announcing 103 layoffs in New Jersey.

They joined Fiserv, a global provider of payments and financial services technology with a large campus in Berkeley Heights, which announced 118 New Jersey based layoffs.

By the end of March, based on New Jersey WARN Notices, about three dozen employers across New Jersey have announced 4,508 layoffs this year so far.

Read More: Major job cuts hit Novo Nordisk in Plainsboro

That's tracking above 2025, when New Jersey employers announced just over 3,600 layoffs from January through March.

And, it continues a discouraging upward trend — as this year's first quarter of announced layoffs across the state is more than two-and-a-half times the first quarter of 2024 (1,753 layoffs).

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