Still, JPMorgan hires about 40,000 employees annually, according to the report.
JPMorgan has not outlined plans for job cuts previously, but broadly touched on expense cutting plans in a February investor presentation. The bank said it expected expenses to drop to $57 billion this year from about $58.4 billion last year.
"We won't compromise investment dollars in order to improve short-term efficiency or performance," said JPMorgan Chief Financial Officer Marianne Lake at the the time.
Other large American banks including Bank of America and Citigroup have also cut costs amid a tougher regulatory and legal environment in recent years.
JPMorgan Chase shares were trading slightly lower Thursday afternoon.
Read the full Wall Street Journal report here.