JPMorgan Chase & Co. began notifying its employees about a series of job cuts planned throughout 2025, Barron's reported on Wednesday, citing people familiar with the matter.

According to the report, the first employees were notified on Sunday, and the layoffs have already affected the staff in the company's Houston offices. The rest of the job cuts are reportedly set for the middle of March, May, June, August, and September, and they will not affect all areas of business.

The company did not publicly state how many jobs will be eliminated or in which areas of business, but the decision to begin with layoffs allegedly came as an effort to adapt its operations and staffing to its changing business needs.