New Jersey’s labor market is facing significant headwinds in 2026, with major employers across multiple sectors announcing thousands of job cuts as companies restructure operations, close stores and implement cost-saving measures. From telecommunications giants and pharmaceutical companies to retail chains and logistics firms, Garden State workers are bearing the brunt of corporate realignments that began gaining momentum in late 2025.

The Scope of Job Losses

According to Worker Adjustment and Retraining Notification (WARN) Act filings with the New Jersey Department of Labor and Workforce Development, employers have announced thousands of layoffs affecting workers in nearly every county. The cuts span telecommunications, pharmaceuticals, retail, logistics, finance and manufacturing.

Verizon Leads in Telecommunications Cuts

Verizon has implemented the largest single round of layoffs, with 1,319 New Jersey employees affected effective Feb. 20, 2026. The reductions are part of the telecommunications giant’s November 2025 announcement of 13,000 layoffs worldwide.

While the WARN filing listed Basking Ridge as the location, a company spokesperson confirmed the layoffs are statewide and extend beyond that corporate office.

Pharmaceutical Industry Restructuring

The pharmaceutical sector has seen significant workforce reductions as companies pursue cost efficiencies. Bristol Myers Squibb is cutting 247 employees at its Lawrence Township campus between May and December 2026, according to a February WARN filing. The reductions will roll out across seven separate dates through the end of the year.

These cuts follow more than 1,400 New Jersey job losses at Bristol Myers Squibb since the start of 2025, part of the company’s broader initiative to achieve approximately $2 billion in annualized cost savings by the end of 2027 through organizational design changes and enhanced operational efficiency.

Merck announced 204 layoffs, primarily at its Rahway business complex, with effective dates spanning February through May 2026. The cuts are part of a strategic cost-saving plan announced in late 2025.

Health Insurance Adjustments

Horizon Blue Cross Blue Shield has announced 242 layoffs based in Newark, effective by late April 2026. The company cited “unprecedented financial challenges” due to rising medical costs as part of an 8% workforce reduction.

Retail Sector Contraction

The retail landscape in New Jersey is shrinking as several major chains close locations and restructure operations.

Amazon is eliminating 871 positions statewide through the closure of its Amazon Fresh stores, effective April 28, 2026. The cuts break down as follows: 417 in Bergen County, 240 in Passaic County, 141 in Monmouth County, 44 in Hudson County and 29 classified as “statewide.” The company announced Jan. 27 that it would close its brick-and-mortar grocery chains Fresh and Go, affecting four New Jersey locations in Eatontown, Lodi, Paramus and Woodland Park.

Macy’s announced a combined 89 layoffs at three New Jersey locations — Paramus, Ramsey and Livingston. The Ramsey and Livingston stores will close entirely, while one of the brand’s Paramus locations is relocating.

Walmart has announced 100 layoffs based in its Hoboken offices, effective by May 2026. That follows 668 layoffs or relocation-related job losses in 2025 as the retailer moved corporate positions to a new headquarters in Bentonville, Arkansas.

Target is cutting 107 jobs at the store district and supply chain levels in Burlington, Gloucester, Middlesex and Monmouth counties, effective May 17, 2026. An internal email cited by CNBC said the cuts would allow the company to add “significantly more payroll in our stores.”

Logistics and Distribution

The logistics sector faces disruption as companies adjust to changing shipping volumes and operational needs.

Scudetto Logistics, described as an Amazon Delivery Service Partner, announced 120 layoffs in Trenton, effective May 14, 2026.

SFC Global Supply Chain, a subsidiary of Schwan’s Company, is cutting 170 jobs at its Robbinsville location, effective April 10, 2026. Schwan’s produces and distributes frozen foods nationwide.

Lifetime Brands announced 140 layoffs at its Robbinsville East Coast Distribution Center, effective between April and November 2026. The company, whose brands include KitchenAid, Farberware and Sabatier, said last year it would relocate its distribution operations to a newly built facility in Hagerstown, Maryland.

ERMC Aviation Services is eliminating 205 positions at Newark Liberty International Airport, where it provides maintenance and operational support, including baggage handling and passenger boarding services, effective April 11, 2026.

Finance and Manufacturing

JPMorgan Chase has announced 120 layoffs based in its Jersey City offices, effective May 3, 2026. That follows 412 layoffs at the financial institution in 2025.

Arrow Fastener, the Saddle Brook-based tool manufacturer founded in 1929, is cutting 140 jobs between May and August 2026. The company was acquired in 2017 by Hangzhou GreatStar Industrial, one of Asia’s largest hand tool manufacturers.

Publishing and Distribution

Hudson News Distributors announced 236 layoffs at its Parsippany facility, with effective dates between Feb. 6 and March 16, 2026. The cuts affect the distribution arm of the Hudson News brand.

Looking Ahead: UPS Uncertainty

Adding to worker anxiety, United Parcel Service (UPS) recently announced plans to eliminate up to 30,000 operational jobs in 2026 and close at least 24 facilities across the United States as part of a strategic restructuring tied to reduced shipment volume — particularly from Amazon, its largest customer.

While no official WARN notices have been filed in New Jersey related to the 2026 cuts, workers at facilities including the Trenton location have shared concerns on employee forums about potential closures. Most of the expected job impact in 2026 is expected to come through attrition and voluntary separation programs, according to UPS executives.

Worker Protections Under the New Jersey WARN Act

For New Jersey employees facing layoffs, the state’s WARN Act provides stronger protections than federal law. The New Jersey WARN Act — formally known as the Millville Dallas Airmotive Plant Job Loss Notification Act — requires covered employers to provide 90 days’ advance written notice before a mass layoff or plant closing, compared with the 60 days required under federal law.

The law also mandates severance pay — one week for every full year worked — when WARN applies. The severance is mandatory, not discretionary, and employers cannot avoid it by claiming financial hardship or business necessity.

New Jersey law applies when 50 or more employees lose their jobs within a 30-day period, a lower threshold than federal requirements. The law covers part-time and variable-hour employees and looks beyond employer labels such as “reorganization” or “strategic realignment” to determine whether a triggering event occurred.

Economic Context

These layoffs follow a turbulent 2025 for New Jersey workers, when more than 11,000 job cuts were recorded statewide. Major employers including Novo Nordisk (811 cuts at its Plainsboro U.S. headquarters), Rite Aid (1,122 cuts amid Chapter 11 bankruptcy), Bristol Myers Squibb (more than 1,100 cuts) and GEODIS Logistics shed hundreds of jobs throughout the year.

The cumulative impact has left labor market prospects uncertain for thousands of residents. According to the Bureau of Labor Statistics, New Jersey’s unemployment rate stands at 5.4% — the third highest in the country.

What Workers Should Know

Employees facing layoffs in New Jersey should:

• Save all documents, including notices, emails, severance agreements and pay records

• Avoid rushing to sign severance agreements, as many require waiving legal claims

• Ask questions in writing about how many employees were laid off and over what time period

• Understand that WARN protections apply regardless of whether the employer calls cuts “seasonal,” “temporary” or a “reorganization”

WARN notices also trigger state “rapid response” services that may include job placement assistance and training resources. Additionally, when severance is required by statute rather than voluntarily offered, workers may have stronger legal protections.

Sources

NJ.com — “N.J. University on Probation Just Got Some Good News After Major Layoffs, Cuts” (February 22, 2026)

New Jersey 101.5 (WKXW-FM) — “From Trenton to the Meadowlands, UPS Rumors Stir Nerves in a Shaky NJ Job Market” (2026)

920 ESPN New Jersey (WTTM-AM) — “Layoff Wave Hits NJ: Big Brands and Major Companies Slash Over 1,500 Jobs” (February 21, 2026)

NJ.com — “Big-Name Pharmaceutical Company Slashes Nearly 300 N.J. Jobs to Improve Bottom Line” (February 22, 2026)

NorthJersey.com | The Bergen Record — “Amazon to Lay Off More Than 800 New Jersey Employees: What We Know” (January 30, 2026)

Patch — “Bristol Myers Squibb Is Cutting 247 New Jersey Jobs” (February 23, 2026)

New Jersey 101.5 (WKXW-FM) — “Nearly 2,000 Layoffs Reported by Major Employers in New Jersey to Start 2026” (2026)

Swartz Swidler, LLC — “How the WARN Act Protects NJ Workers This Winter” (February 1, 2026)

Brandon J. Broderick, Attorney at Law — “How the New Jersey WARN Act Protects Employees During Mass Layoffs in 2026” (February 1, 2026)