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More cuts are coming to New Jersey’s financial sector, according to the latest WARN notices filed with the state Department of Labor & Workforce Development. 

Posted this week, the notices indicate that jobs will be affected at various divisions of Citigroup as well as JPMorgan Chase Bank.

For Citigroup, cuts will affect 187 positions in Jersey City, Rutherford, Short Hills, Paramus, Hoboken and Fort Lee from April 30 to June 29. At JPMorgan, cuts will hit 91 roles in Jersey City by June 24, according to the filings.

A representative for Citigroup said the financial institution was “not commenting beyond the notices.” NorthJersey.com first reported the Citigroup news. 

Citigroup announced in a January earnings call that it would make a global workforce reduction of about 20,000 positions. That calculated to about 8% of its staff of 239,000, according to a Reuters report. 

The news followed the New York-headquartered company’s 2023 fourth quarter results, in which it posted a net loss of $1.8 billion. CEO Jane Fraser called the quarter “very disappointing.” 

In a statement to NJBIZ, a JPMorgan Chase spokesperson said, “We regularly review our business needs and adjust our staffing accordingly – creating new roles where we see the need or reducing positions when appropriate. We are committed to New Jersey and have more than 12,000 employees working in the state with more than 600 open positions. This impacts a small number of local employees and we are working hard to redeploy them.

“We are complying with new amendments to the NJ WARN Act, which requires employers to report layoffs that impact 50 or more employees. This impacts 91 of our more than 12,000 employees in New Jersey. We have more than 10,000 employees in Jersey City,” the statement continued.

The cuts are the latest for the Garden State’s financial sector. In February, Prudential Financial Inc. indicated in a WARN notice that it would cut 145 jobs in New Jersey between April and September of this year. 

Editor’s note: This story was updated at 11:06 a.m. ET April 4, 2024, to include a statement from JPMorgan Chase.