Prudential Financial Inc. continues to streamline its operations, disclosing 125 layoffs in a September filing with the New Jersey Department of Labor & Workforce Development.
According to the latest WARN notice, the job cuts will affect subsidiary Prudential Insurance Co. of America between Nov. 28 and Dec. 31, 2026.
“Prudential is building a more focused, efficient company positioned for long-term growth,” the company told NJBIZ. “As part of that effort, we are simplifying how we operate and making targeted changes across the organization to better align our workforce and resources with our highest strategic priorities. These decisions are never easy, and we are committed to treating affected employees with care and respect.”
Over the course of 2026, the Newark anchor institution has filed four WARN notices indicating a total of 321 job cuts.
Since 2024, Prudential has revealed more than 1,000 layoffs in Newark as the company seeks to streamline its business — an endeavor prevalent across corporate America. The figure totaled 637 that year, and 183 in 2025.
According to its annual company filing, as of Dec. 31, 2025, Prudential reported more than 36,000 employees worldwide with 13,879 in the U.S. It was not immediately clear how many employees work in Newark.
Last week, Prudential Chairman and CEO Andrew Sullivan revealed the company plans to sell two of its Newark office buildings. He also clarified there are no immediate changes for employees. And that the transition will take several years.
“We are aligning our real estate footprint with our strategy and future ways of working,” Prudential said in a statement shared with NJBIZ.
Other financial firms operating in New Jersey have also revealed jobs cuts this year.
Recent WARN notice disclosures also include:
- Sumitomo Mitsiu Banking Corp. – 75 cuts, effective Oct. 1–13 in Jersey City
- Fiserv Solutions LLC – 98 cuts, effective Sept. 11 in Berkeley Heights
- UBS – 41 cuts, effective Nov. 26–30 in Weehawken
- Cenlar FSB – 50 cuts, effective Aug. 21–Oct. 30 in Ewing Township
- Citibank NA – 59 cuts, effective Oct. 31 in Hudson County
Meanwhile, JP Morgan Chase has filed five WARN notices in 2026 for a total 541 cuts.
Editor’s note: This story was updated at 3:16 p.m. Oct. 5, 2026, to better reflect the total number of layoffs since 2024. It was updated at 4:49 p.m. to attribute a quote from Prudential’s Sept. 30 real estate news to the company.
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