J.P. Morgan: A Burdened Bank?

By: Craig McPherson

The iconic logo for the J.P. Morgan bank company, accompanied by the name of its founder. (Credit : JPMorgan Chase Logo, symbol, meaning, history, PNG, brand -Logos-world)

     J.P. Morgan is one of, if not the biggest banks in the United States. Serving millions of customers in financial transaction processing and asset management. Known for being very reliable, ever since it was founded in 1871. However, something strange seems to be happening to the beloved bank. The bank has planned to make several layoffs throughout 2025. This means thousands of employees will be laid off, removed from their job. But why is this happening?

     According to a spokesperson, these layoffs are just a normal part of managing the business. The spokesperson also claimed that they are continuing to hire in several areas, and relocate the affected employees. One may think that J.P. Morgan is facing a struggle, causing the layoffs, but it is quite the contrary. In 2024, the bank had earned its highest-ever annual profit of $54 billion.

     The CEO of J.P. Morgan’s Wealth Management, Kristin Lemkau would also share  other recent achievements of the bank. She said, “At J.P. Morgan Wealth Management, we marked some important milestones: customers entrusted us with more than $1 trillion in assets under supervision and we’ve welcomed more than 390 advisors to our team of nearly 6,000 advisors who are ready to help clients reach their goals.”(Lemkau, 2024). A bank’s success can be determined by how much money it stores. Since it has been entrusted with over a trillion dollars, it is likely that J.P. Morgan has a significantly vast amount of patrons. 

     In conclusion, while one may assume that because J.P. Morgan is laying off many employees, the bank is struggling. However, this is not the case, as the bank has recently been very successful. The layoffs are just a regular part of running the business, and they will continue to hire in certain areas.