- Today
- Holidays
- Birthdays
- Reminders
- Cities
- Atlanta
- Austin
- Baltimore
- Berwyn
- Beverly Hills
- Birmingham
- Boston
- Brooklyn
- Buffalo
- Charlotte
- Chicago
- Cincinnati
- Cleveland
- Columbus
- Dallas
- Denver
- Detroit
- Fort Worth
- Houston
- Indianapolis
- Knoxville
- Las Vegas
- Los Angeles
- Louisville
- Madison
- Memphis
- Miami
- Milwaukee
- Minneapolis
- Nashville
- New Orleans
- New York
- Omaha
- Orlando
- Philadelphia
- Phoenix
- Pittsburgh
- Portland
- Raleigh
- Richmond
- Rutherford
- Sacramento
- Salt Lake City
- San Antonio
- San Diego
- San Francisco
- San Jose
- Seattle
- Tampa
- Tucson
- Washington
Ridgewood Today
By the People, for the People
Layoffs Spike as Sherrill Budget Punishes Businesses
New Jersey employers announce thousands of job cuts as governor's tax hikes take toll
Apr. 11, 2026 at 12:52am
Got story updates? Submit your updates here. ›
As New Jersey businesses grapple with new taxes and regulations, a wave of layoffs exposes the economic toll of the Sherrill administration's anti-business policies.Ridgewood TodayNew Jersey employers are on a rapid pace of new layoffs in 2026, with major companies like JPMorgan Chase, UBS, and Fiserv announcing thousands of job cuts in the first quarter. Business groups warn that Gov. Mikie Sherrill's anti-business policies, including a series of new taxes and regulations, are partly to blame for the wave of layoffs across the state.
Why it matters
The surge in layoffs highlights the growing economic challenges facing New Jersey as the Sherrill administration pursues a more aggressive tax and regulatory agenda targeting businesses. The job losses could have ripple effects across the state's economy and raise concerns about the state's ability to attract and retain companies.
The details
By the end of March, based on New Jersey WARN Notices, about three dozen employers across the state have announced 4,508 layoffs so far this year. That's tracking above 2025, when the state saw just over 3,600 layoffs in the first quarter. The first quarter 2026 layoffs are more than two-and-a-half times the level seen in the first quarter of 2024. Major companies like JPMorgan Chase, UBS, and Fiserv have all announced significant job cuts in New Jersey in recent weeks.
- By the end of March 2026, about three dozen employers across New Jersey have announced 4,508 layoffs this year so far.
- In 2025, New Jersey employers announced just over 3,600 layoffs from January through March.
- The first quarter 2026 layoffs are more than two-and-a-half times the level seen in the first quarter of 2024 (1,753 layoffs).
The players
Mikie Sherrill
The governor of New Jersey who has proposed a series of new taxes and regulations that business groups say are contributing to the wave of layoffs across the state.
JPMorgan Chase
A major financial services company that has announced two rounds of layoffs in New Jersey, totaling 254 employees.
UBS
A global financial institution with a large office in Weehawken, New Jersey, that announced 103 layoffs in the state.
Fiserv
A global provider of payments and financial services technology with a large campus in Berkeley Heights, New Jersey, that announced 118 layoffs in the state.
The takeaway
The surge in layoffs across New Jersey highlights the growing economic challenges facing the state as the Sherrill administration pursues a more aggressive tax and regulatory agenda targeting businesses. The job losses could have significant ripple effects across the state's economy and raise concerns about New Jersey's ability to attract and retain companies in the future.
