Thread regarding JPMorgan Chase & Co. layoffs

Start looking for a job. Layoffs are happening again in October .

Don’t believe anything your manager tells you. They are going to tell you what you want to hear. Take care of yourself!!!

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Post ID: @10EivDC7

9 replies (most recent on top)

No it’s today and tomorrow

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Post ID: @10EivDC7-kdyp

Nope I heard it’s September and possibly tomorrow. If it was October, with the 45 days allotted, people would not be leaving until November. Chase does not want to do that near Thanksgiving. You know with being a company on the human level of empathy, because giving jobs away to Argentina is as far as they will go.

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Post ID: @10EivDC7-eldc

Given the grammar and sentence structure displayed in some of these posts....you people SHOULD be fired. Good grief.

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Post ID: @10EivDC7-6vmc

Would anyone stay if they told them the truth? If they did it would be too expensive. Years ago to avoid key staff to leave, they offered them bonuses if they stayed to the end.

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Post ID: @10EivDC7-5mcm

Proofreading is important! I was told on 8/22 that my whole team has 45 days left. Our job is moving to Manila & Chicago. We saw it combing, but were told we had 2 years.

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Post ID: @10EivDC7-4buu

I was given 45 days notice on Thus 8/22. My job is. Of good to Manila & Chicago.

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Post ID: @10EivDC7-4fmf

Not October. It was moved up to the week of September 13th. The day of that week is not finalized but expect your manager to call a meeting with you on Tuesday or Wednesday of that week. JPMorgan has fallen on hard times and may only make $30 billion this year. Managing Directors have to make sure they come in under their personal budget goals so that they get a bonus and stock options. So rather than having business executives that can operate a successful business, they allow them to cover up their failures by reducing expense through layoffs. That is true even if a great profit is forecast. To hear Jaime Dimon describe a great leader is perplexing. He talks out of both sides of his face. He is either extremely disconnected and has no clue the current MD’s in mortgage exemplify all the bad traits he describes in a leader. It’s that or he is just spewing hot air to placate.

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Post ID: @10EivDC7-3mor

I was offered to work on a new project projected to last 3 years, which included wrapping up loose ends, answering inquiries and making sure all back up was inventoried and stored. I specifically asked after hearing rumors of layoffs in the group, if the position would be one to be laid off within the next 6 months. My manager said no and that my talent was needed. They were struggling and they needed someone who understood the work, business, and process and would have no problem hitting the ground running as well as being the right person to train new staff. Well, after a few months in I was given a heads up of my lay-off and asked to train out of state and offshore staff.

Yeah, I hit the ground running, and unlike my boss, I did not receive a raise or bonus when the project successfully moved to new staff with no impact to the project.

What saddens me is that managers are so scared of losing their job OR are so ambitious and concerned that they won't move up a rung or two as they climb up the proverbial ladder, that they rather lie than say "I can't promise that and it is a possibility". They look at the current work or unit assigned to manage as a path to the next position. Not a bad thing, but these managers are focused first on their own personal long term goals than on how to achieve organizational short term goals.
Also, no manager stays in a position long enough to see the outcome of their plans and the cost associated with it. No one says, WHO got us to this point? Maybe the answer is because they are now in charge or have moved to a different division and to make them accountable is to much work, or they being groomed for a specific job and it is chalked up as a learning experience.

My old position (and entire group) was moved into a new group. To date, no one has been laid off, but it is a matter of time before it happens.

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Post ID: @10EivDC7-1prz

Once your manager tells you then HR sends the staff member a notification advising of the separation. Last Quarter layoffs happen 45 days before the first or last pay period in Dec. That clock starts ticking around 10/17 or 10/31.

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Post ID: @10EivDC7-uia

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