I noticed JPM is hiring in NYC and other cities in the US while everyone is talking about layoffs. What is going on. Are they actually hiring? Are they real jobs?
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That's not surprising at all. JPMC is BIG, you always have cost-cutting/lay offs happening in one area. While Growth/hiring in other areas. Even within LOB, some programs are divest and some are invest. Based on that, even within an organization, you could be laying off in one area and hiring in another. I've seen people take mobility options sometimes, but more often than not, the people who they get rid of are the ones who've been there too long and stopped learning new things, started taking the job for granted and don't necessarily have transferable skills.
They hire and layoff all the time. This isn’t new. In times like this, they do less of the former and more of the latter, but they use layoffs as a way to transition the workforce and talent over time, with an eye towards a certain % reduction overall every year...look at the numbers, if they say they want to reduce headcount by 20%, as they did in Risk, Finance, and some other areas in 2018 (this happened...ask any MD in those areas who you trust to tell you the truth), actual headcount shrinks by a smaller amount.
not only that they wanna hire me back
JPMORGAN always doing layoffs every quarter. I have been with them since back in the 90’s. Just be buddy with upper managements (not low level supervisors) and you will be good like me.
vested refers to are "defined benefits" because both the employer and you know in advance the formula that will be used to define and set the benefit payout, the post implies employees vested by a pension plan
It’s important to understand how your pension vests because the vesting schedule determines when you are eligible to receive full pension benefits.
"Vested" senior employees, lol. Does any Chase employee use that term correctly!?!
Chase desperately need new fresh blood, and also get rid of old expensive junks at the sometime.
they got rid of the high paid ees in these groups before. Is it the cheaper were in competent?
Fortunately, my side hustle is stable enough for me to pay bills. Never rely on a corporate job as your sole source of income.
Yes, replacing ve$$$$$$$$$ted senior employees with newbie$