JPMorgan Chase is making major operational changes at one of its largest employment hubs outside of New York. According to a notice filed with the Texas Workforce Commission, the prestigious American bank is shutting down a call centre at its Plano campus in Texas, triggering over 200 layoffs tied to the establishment, CBS News reported. The job cuts are expected to take place in August.
The news surfaced as US reports indicated that a JPMorgan Chase executive had been fired after going viral for stealing a Knicks-themed trash can at the NBA team’s celebratory parade.
JPMorgan Chase layoffs 2026: Who has been affected?
A total of 244 positions will be eliminated at the New York-based bank’s Legacy-area campus, where it employs more than 12,500 people. CBS News reported that the location currently has more than 800 open positions. Despite closing a call centre, the company asserted its commitment to the Plano branch.
In a statement to CBS News Texas, JPMorgan Chase confirmed it is cutting this share of US jobs to consolidate a small operations team into larger existing operations centres.
“We regularly review our business needs and adjust our staffing accordingly — creating new roles where we see the need or reducing positions when appropriate,” the company stated.
Simultaneously, the New York bank noted it was doing everything in its capacity to redeploy the 244 employees affected by the latest round of layoffs. The cuts amount to about 2% of the workforce at the campus.
According to a Worker Adjustment and Retraining Notification (WARN) Act notice filed with the Texas Workforce Commission, the layoffs will begin on August 21 and will largely affect fraud specialist roles, as reported by the Dallas Business Journal. Impacted employees will be eligible for severance benefits and will receive help relocating to other positions within the company or through outplacement services.
What are WARN notices?
As reported by CBS News, those affected by this round of JPMorgan Chase layoffs will get formal 60-day notices as required under the federal Worker Adjustment and Retraining Notification (WARN) Act.
The official US government website of the Department of Labor (DOL) states that the WARN Act helps ensure advance notice in cases of qualified plant closings and mass layoffs, as is also the case this time. The US labour law mandates that employers give a 60-day notice before shutting down plants or executing sweeping layoffs. The notice is then sent to impacted employees or their representatives, the state’s dislocated worker unit and the local government.
According to the official website of the Commonwealth of Pennsylvania, WARN notices apply to all employees, including hourly, salaried, and managers. Business partners are not included. Additionally, the rule excludes workers with less than six months of service in the past year and those who average less than 20 hours weekly.
Penalties, if an employer breaks WARN laws by closing a plant or laying off workers without proper notice, include paying the affected employees.
“They owe back pay and benefits for up to 60 days. However, this amount can be reduced by the wages paid during the violation and any extra payments to the employees,” states the official Pennsylvania website. “Similarly, failing to notify local government leads to a fine of up to $500 per day. Yet, this penalty is avoidable if the employer quickly compensates each affected employee within three weeks.”