I was told the planned May RIFS is now happening in September with the notifications made in July.
Can anybody confirm this?
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Yes, layoffs are ongoing. The last one I was aware of was in the Office of the Corporate Secretary.
That’s nonsense. How can associates be laid off? They are more experienced then entry level grunts and their salary is not high enough to be breaking the bank. If they are laying off, it should be entry level positions (since they are easily be replaced) or higher senior management since they really don’t work but paid high just be bossing around people below them and asks questions since they show no knowledge to lower level functions
A Manager in CTO just received his notification on Thursday 6/11/2020. It is true about getting rid of middle MANAGEMENT.
An associate in my group was laid off today, effective the end of July. He was in Asset Management. We didn't have any planned lay offs in my group so everybody was surprised (and scared). I am not in Ops, tech, compliance or any of those groups.
Which LOB and Department?
What division are you in where you got the notice?
Second wave of layoffs, notices will be coming Friday June 12, with exit date of July 26th. I know because I am one of them. Chase always wants to be the leader even in tough times. Very disappointed, all other major banks suspended layoffs till the COVID crisis is past them. Way to go Chase.
I heard organizational changes throughout CCOR.
What specific part of CCOR you referring to? Or the CCOR as a whole?
I know that there are organizational changes coming to CCOR, but don't know any details. Anyone out there here anything specific? Thanks.
Well now with economy in the ditch, there won't be many regulations passed impacting FIs and if there are some that need to be passed, this admin won't allow it to happen until after November.
Reducing legal will be a big bag for the buck and bottom line. Next should be PMs - At the bank they are highly paid administrative assistance. The create decks, schedule meetings, take notes, send meeting updates, coordinate tasks and make sure others do the work needed to be done. Some have NO knowledge of the business or the change that requires PM'ing and make no qualms about it. They will tell you my job is to make sure project is done and escalate when necessary. A talented Admin could do that if they paid them a decent salary.
I heard there were recent soft notices of layoffs in Legal and other corporate functions at 4NY Plaza this week or last. Word doesn't travel as well with everyone remote.
JPM only has white collar jobs. You mean official positions?
Notifications are mid-July
I read that second wave of lay-off due to covid involves white collar jobs. Maybe this is part of that second wave ?
Any info would be great.