NJ Job Losses: These 10 Companies Have Highest Layoffs In 2025

The announcement in late September that the concessions operator for Red Bull Arena in Harrison will be laying off 467 employees is the latest in a number of significant job reductions in New Jersey in 2025.

According notices filed with the state Department of Labor through Monday, more than 11,000 workers are slated to lose their jobs in layoffs that are to continue into 2026. More than 70 companies have filed notices under the Worker Adjustment and Retraining Notification Act, which requires companies to alert workers and government when large-scale layoffs are planned.

Of the 11,362 layoffs announced so far, 2,422 job cuts have been announced since Sept. 1, according to the notices.

These are the 10 companies that have announced the largest number of job cuts in 2025:

1. Bristol Myers Squibb, 1,156. The pharmaceutical company has submitted multiple WARN notices, including one in September for 282 employees, following notices in February releasing 290 employees; a notice in May announcing the reduction of 516 positions, and one in June of 68 employees. The layoffs are scheduled to be completed in March. The company has more than 30,000 employees worldwide.

The pharmaceutical industry has accounted for more than 2,200 layoffs in 2025.

2. Rite Aid, 1,122. The pharmacy chain has shut down all of its stores in New Jersey amid its bankruptcy proceedings.

3. Walmart, 668. The company has said it is cutting hundreds of corporate jobs as it does some restructuring, Talk Business reported.

4. Novartis, 485. The company said the layoffs are a response to changes in "the external environment. It employs 3,000 people in East Hanover, where all 485 layoffs are slated to happen, and has about 12,000 employees in the United States.

5. Harrison Sportservice Inc., 467. The company provided concessions for Red Bull Arena, now named Sports Illustrated Arena.

6. GEODIS Logistics, 426. The transport, logistics and supply chain company cut the positions from its Monroe Township site earlier in 2025.

7. JP Morgan Chase Bank, 417. The financial services company has made four rounds of cuts in 2025 from its Jersey City location. The cuts come in spite of record profits in 2024, because of concerns about AI, CEO Jamie Dimon told the Times of India.

8. GMRI Inc. T/A Bahama Breeze, 327. The company closed Bahama Breeze locations around the country in May. Four locations in New Jersey were affected.

9. KRP Transport, 298. The interstate freight company specializes in "last mile: package delivery services. The cuts came at its Burlington County location.

10. JoAnn Stores, 262. The sewing and craft store closed its operations in June.