The layoffs are a part of the "regular management of the business", a spokesperson said, adding that the bank still has 14,000 open positions.

JPMorgan Chase began layoffs Feb. 5 and plans to announce additional cuts in mid-March, May, June, August, and September, sources told Barron’s. Not every line of business will be impacted in each round of those layoffs.

JPMorgan Chase (JPM), the world’s largest bank, has begun widespread layoffs a month after posting record annual profits. Maximize Your