As outside observers, we have no reason to expect that a variable named figures exists.
save_jpegs = 'C:\Users\jpegs';
save_figs = 'C:\Users\figs';
figures = findobj('type','figure');
for i = 1 : length(figures)
saveas(figures(i), fullfile(save_jpegs,[ num2str(i) '_' figures(i).Name '.jpeg']));
saveas(figures(i), fullfile(save_figs,[ num2str(i) '_' figures(i).Name]));
end