Feb 12 (Reuters) - JPMorgan Chase's ( JPM ) managers

began notifying employees of job cuts last week as part of a

series of layoffs the bank plans to make throughout 2025,

Barron's reported on Wednesday, citing people familiar with the

matter.

Fewer than 1,000 employees are going to be laid off in

February, the report said, adding that the bank is planning to

announce more cuts in mid-March, May, June, August and

September.

"We regularly review our business needs and adjust our

staffing accordingly," a spokesperson for the bank said in an

emailed statement to Reuters.

"We continue to hire in many areas and work hard to redeploy

impacted employees ... This is part of our regular management of

the business and impacts a very small number of employees."

JPMorgan ( JPM ) had 317,233 employees as of end-2024, it said last

month.

In January, the largest U.S. bank reported a record

annual profit as its dealmakers and traders reaped a windfall

from rebounding markets in the fourth quarter.

Wall Street profits have surged in recent months as

dealmaking and fundraising activities rebounded against the

backdrop of a strong U.S. economy.

Industry executives have stayed bullish even as the

Trump administration announced a slew of economic and regulatory

policy shifts that fueled uncertainty.

(Reporting by Manya Saini and Niket Nishant in Bengaluru;

Editing by Shilpi Majumdar and Devika Syamnath)