There is not a need for JPMorgan to lay-off employees

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 .

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Ask Shankar, why bangalore contractors are on the clock, and don't have their background check completed and approved?

Well Jp Morgan Chase does not like to call it a lay-off. They refer to it as an opportunity. And they are focusing in on tenured employees. Mind you they are moving a lot of their banking over seas.. what does this mean for customers?? In a day and age the identity theft is rampant? Here you have one of the top 5 banks putting your information out in a country that when they first moved their banking over there the fraud over doubled in that country. And what did Chase do to protect you they handled your fraud but what else have these identity thief’s done with your information??? And where is Chase now? Yep you guesses it no where to be found.

I see it all over the place and its disgusting. Qualified people are not being promoted and its obvious. I've seen people promoted to positions in new departments that had no idea what they would be doing or even what the department does. I personally know many people that were promoted into Asset/Wealth/Investment Banking positions who had never heard of the Dow Jones Index or knew what a dividend is. Recently I saw an employee promoted into a Margin Call role position from an unrelated department googling "What is Margin Call" AFTER they got the position. What a Swamp!

They got rid of good managers and replaced them with myopic, self serving managers that don’t say good morning, good night or how can I help in the success of our group based on what the Bank requires of us.

What a shame.

Oh yes!.. there is a need, more bonus payout to VP's and Directors. long live the swamp!

Happens in all departments as well as GTI .
They promote their friends who have failed miserably inside the bank to lead big projects .It’s astounding . Promotions for people who deliver are non existent .

but they DO.. all the time

Thread regarding JPMorgan Chase & Co. layoffs

There is not a need for JPMorgan to lay-off employees

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