JPMorgan reportedly starts first round of layoffs with more cuts later this year

1. JPMorgan plans layoffs of fewer than 1,000 employees in February 2025. 2. Additional job cuts are scheduled for mid-March, May, June, August, and September. 3. JPMorgan reports record annual profit driven by strong market performance. 4. Wall Street profits surged due to increased dealmaking and fundraising activities. 5. The bank continues to hire in various areas despite the layoffs.