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

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) started notifying employees of job cuts last week, as part of its plan to trim staff throughout the year, according to a media report, fitting with the company's stated goal of keeping its headcount flat.