JPMorgan Chase to lay off 244 workers as it shuts down Texas call center

JPMorgan Chase is laying off 244 employees at its Plano, Texas, campus as the banking giant consolidates operations and reshapes its workforce, even as it promotes two senior executives into newly created co-president roles as part of CEO Jamie Dimon’s long-term succession strategy.

A notice filed with the Texas Workforce Commission confirmed that the company will permanently close a customer service call center at its Plano facility, triggering layoffs that begin on August 21. The filing was submitted under the federal Worker Adjustment and Retraining Notification (WARN) Act, which requires employers to provide advance notice of large workforce reductions.

According to the company, the affected employees will receive 60-day notifications, severance benefits, and assistance in finding other positions within JPMorgan Chase or through external career transition services.

JPMorgan said the layoffs are part of a broader operational restructuring designed to consolidate a small operations team into larger existing service centers. Company officials emphasized that the decision reflects changing business needs rather than a reduction in the firm's long-term commitment to North Texas.

Despite the workforce reduction, JPMorgan noted that it continues to employ more than 12,500 people in Plano and currently has over 800 open positions across various business units. The bank said it is actively working to redeploy as many impacted employees as possible into available roles.

Reports indicate that many of the eliminated positions involve fraud specialists and customer support functions, areas where the bank has increasingly invested in automation, artificial intelligence, and centralized operations.

The announcement comes as major financial institutions continue streamlining operations while expanding investments in digital banking technologies, cybersecurity, and AI-powered customer service platforms.

At the same time, JPMorgan unveiled a major leadership reshuffle aimed at preparing for the eventual retirement of CEO Jamie Dimon. The company promoted longtime executives Doug Petno and Troy Rohrbaugh into newly created co-president positions, signaling the next phase of its succession planning.

Under the new structure, Petno will lead the Commercial and Investment Bank, while Rohrbaugh becomes CEO of Consumer and Community Banking. The leadership changes also coincide with the retirement announcement of Marianne Lake, who had long been viewed as one of Dimon's potential successors.

Jamie Dimon said the promotions reflect the board's confidence in both executives' leadership, operational expertise, and ability to guide the company's future growth.

The combination of workforce restructuring and executive promotions highlights JPMorgan's dual strategy of improving operational efficiency while positioning its leadership team for the next generation of growth in an increasingly technology-driven banking industry.