There is not a need for JPMorgan to lay-off employees. There is a desperate need for better leadership in the mortgage bank. For some id–tic reason, senior leaders who ran other major banks mortgage business into the ground (to the point they exited the mortgage servicing business entirely), were hired to lead Chase’s mortgage business. And guess what? The pattern is repeating itself. This company was once filled with top leadership talent that employees had pride and faith in. Now the pre-requisite to being a senior leader is to hire your friends that have failed miserably at other firms. It really is just astonishing, sad and pathetic. If you owned a business, would you hire people that wrecked other companies to lead yours?
Couldn’t agree more with @110sEAtV-8uoj .