The only thing any of us can do at this point is to make sure that we're prepared to the best of our ability for when it happens. This means making sure your resume and LinkedIn profile are updated and that you're constantly networking. Reach out to people BEFORE you need a favor from them. You are much more likely to get it once you do. If you're properly prepared, the prospect of layoffs does not seem as scary.
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Branch HLA’s save the company a ton of money by having 1 HLA doing 5+ HLA’s jobs. It wouldn’t make financial sense to cut branch HLA’s, unless they do bottom 10% or something. I’m thinking they’ll start at refi first.
They laid off one person in Jax?
They fired the SLM for Jax branch in the first round, wouldn't be surprised if Sr Branch HLAs were next.
HL is home lending and LM is lending manager.
What is HL and LM
Jax cd or retail?
Yes, jax HLA layoff on Wed - LMs already confirmed.
Do you think layoffs will be tomorrow in Jacksonville?
I'll keep the high horse if it means putting jerks like you in perspective. So tell us truly... what is the reason YOU are hanging out here?
FOR the ofender No sure if you are new but your notes that this is only rumors. Unsustainable. GUESS WHAT. Every time we show “as rumors “. It happen people getting layoff and I know they are managers here that they can’t said nothing at the workplace but they vent it here. You can check prior the last layoff in June. We were aware of this was coming. God bless you and drink coffee
Per the previous post, who exactly is “here to help”? This is just a forum for a bunch of people who like to gossip about unsubstantiated rumors and basically circulating predictions about people losing their jobs. Unless you are giving out job applications or donating money to those who have been riffed, you can hop off your high horse. Enjoy the ride.
You gotta love the trolls who take enjoyment from seeing others in pain. Wait what? You don't have to love em? Step off if you aren't here to help. Smh. Who raised you???
THE END IS NIGH!
LOL okay, wow. How do I say this without offending you all. If you are a grown a-s man afraid of being laid off by this corrupt institution, I need you to look down, pluck each te-----e out of their cavities, take a deep breath (and some boron) and stop cucking out here finally. Free yourself!
@1dxt+1iNSBiG0 From what location are you referring that where some manager let go im in the Tempe site from the people move from Shoc and what department where from ? And we are hybrid is they said some layoff happen on Thursday they do a zoom call or what
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? I am reposting this in this thread, I originally put this in another Chase thread and thought I should put it is the Chase layoff thread too.
My guess is that Chase decides to lean more on Consumer Direct (rather than Field) HLAs. They are cheaper in the long run, they can monitor (record) all of the calls, and it will help alleviate Chases paranoia over RESPA and other compliance issues. They can have field HLA's in large cities with mega branches, and just use phone hacks for all of the other branches. Chase obviously doesn't care if they don't do huge mortgage numbers (see their pricing structure) so they can lean heavily on technology and people in centralized phone centers (a la Rocket/Quicken).
I would just start looking for jobs right now, just in case. Just don’t work more than you have to in the mean time.
consumer direct...: (
If we simply stop hiring new 3,000 H1-B every year, no layoff is necessary.
https://www.cnbc.com/amp/2022/09/19/more-homebuilders-lower-prices-sentiment-falls-for-ninth-straight-month.html
Housing crash continues.
Will doing any type of favors for my manager or higher ups put me In the good graces ?
Right, rif doesn’t need one but for performance you do need an improvement plan then written if I understand correctly right? Or I could be wrong?
if its a rif, they dont a improvement plan. your job is not safe.
Any word on retail loan officers? Do they have actual minimum performance standards? Spoke to one who didn’t know it. Can’t get rid of someone without an improvement plan then written warning I believe next. Would think this pricing would do the trick in getting rid of most of those on the fence.
Chase Mortgage makes the decision to not be competitive in the most competitive mortgage market in the last 30 years. The pricing is a joke. Its embarrassing to quote our prices. Customer actually laugh, and then you never hear from them again as they go elsewhere. Also, Chase decides to stay out of the HELOC business for over 2 years at this point. There are dozens of HELOC requests weekly in all branches across the country, and we get to reply that "we don't offer them." Originating HELOCS would add a little bit of income to a commission sales persons pocket during a difficult time, but Chase decides NOT to offer it. Chase Mortgage is top heavy with useless management layers that add NOTHING to production and carry high salaries. While commission sales people on the ground who actually produce are left to twist in the wind. Seriously, F THIS PLACE.
Everyone knows it’s coming this week. My building is on pins and needles. They just need to get it over with
I'm in HL. It has been so stressful. I have been in the industry from almost 25 years. If it happens to me, I am getting out of this industry. I am tired of the BS from managers and higherups. And working with people who are dead weight for years and are still there. Plus, all these DEI meetings are getting ridiculous. I am going to do my own thing/self-employed. Good Luck everyone!
Rumor is layoffs this Weds/Thurs in HL