Mass Layoffs Begin At These Major NJ Companies

Several major corporations are slashing their workforce for 2026 with hundreds of New Jersey workers to be impacted.

Cuts began on Friday when Verizon, based in Basking Ridge, cut 1,319 employees. Those reductions were initially announced in November 2025.

More layoffs were announced in February, according to the state's WARN notice archive, which includes retail giants such as Target, Walmart, Eddie Bauer, and more.

Target announced a reduction of 107 employees in its locations in Burlington, Gloucester, Middlesex, and Monmouth counties. The layoffs will take effect on May 17.

Walmart is also cutting 100 employees in Hoboken, effective May 1.

Eddie Bauer is laying off 58 employees from locations in Bergen, Morris, Camden, Monmouth, and Somerset counties.

One of the largest cuts is coming from Bristol Myers Squibb in Lawrence Township, which announced 247 employees to be laid off spread out throughout the year.

Other large cuts include Arrow Fastener of Saddle Brook to lay off 140 employees; Cigna Evernorth Services of Morris Plains to lay off 134 employees; Scudetto Logistics of Trenton to lay off 120 employees; JPMorgan Chase of Jersey City to lay off 120 employees; and AT&T in Bedminster to layoff 75 employees.

Under the federal Worker Adjustment and Retraining Notification law, a company with 100 employees or more must give workers 60 days' notice of a layoff affecting 50 people or more at a single site. In New Jersey, there are additional requirements, including mandatory severance pay.

These layoffs follow 16,758 in the state in 2025, including nearly a third of those — 5,429 — in the final quarter of the year. The fourth-quarter layoff notices included 4,221 job cuts to be completed in 2026.

• Read more: NJ Job Losses Reach 16K For 2025; What Does 2026 Hold?

— With reporting by Karen Wall

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