“We will see if JPMorgan is right in their more optimistic views, but history suggests that with the Fed actively hiking rates and reducing their balance sheet, the outlook is more cloudy with a chance of heavy rain".
Is this what everybody been anticipating for the layoff after EAW? Source article below
https://www.reuters.com/business/finance/jpmorgan-bofa-cautious-job-cuts-goldman-layoffs-loom-2022-09-13/
@6qlt+1iInrRhp Im in the Tempe North building and no one was laid off today. NO ONE. Too many trolls on here starting rumors and getting everyone hot and bothered. They are expected to hit tomorrow 09/21.
Anyone in retail yet either? Would love to hear about previous poster’s query. Trolls could skip replying if possible to keep temptation at bay.
Jeez, managers in sales, ops, or both? Just the in-person teams or WFH too? Quickly done after EAW but everyone knew it couldn’t happen then anyway.
I an reposting this in the current Chase layoff information. Phoenix Mortgage area started layoffs today. Managers were let go today Sept 19, 2022. There are more to come. If you get called in tomorrow you might as well take your personal stuff with you. They will be escorting you out within two minutes of you being told. They are extremely slow and as the new employees in the Philippines learn their jobs they will be taking over. Their pay is a fraction of what Chase has to pay an employee in the US . I hope they are still offering a severance package with the new round layoffs. Does any one know if Chase pays out the pensions or they let you keep them with Chase until you retire?
Hope there is layoffs in Columbus ohio as well!!
My understanding is next week or week after is a forgone conclusion that there will be layoffs in mortgage, CD sales likely to be hit the hardest and im sure operations will see cuts too
The article mentioned fixed income / CIB so that area will probably be next ?
They are definitely shutting the entire bank down next Wednesday…all 257,000 employees are getting the white box treatment.
What area are you in if you don’t mind me asking?
I think the speculation is from JPMORGAN has had layoffs after EAW in past years. My group is fairly busy, so I don’t see layoffs impacting me anytime soon.
I'd say if it comes from the mouth of the COO, you can count on job cuts AND bonus reduction. Especially painful given the bonus recently granted to the CEO ($50 million)
https://www.cnbc.com/2022/09/13/wall-street-slump-leads-to-50percent-plunge-in-jpmorgan-advisory-revenue.html
If it happens, it will be next week. The june layoffs happened on the 22nd at my site. I'm WFH so dont hear any chatter about possible layoffs. What I do know is that my pipeline has fewer loans now than in June, and I think that's the same for most CCSs here. 8
Will it be sales also? Will it be centralized or field?