The way JPMC is doing layoffs is a nightmare, the strategic solution is to cut to the bone, I have direct knowledge that many managers don't know who will be leaving, but the decision was already made by the HR bean counters, but when layoffs are used repeatedly without a thoughtful strategy, downsizing can destroy an organization's effectiveness, and that is exactly what the management swamp does to buy their time.
Bumped from @VlnpOg4-bxu for being on point.
JP Morgan is in the top ten companies hiring H1B workers in US, the TAX SCAM WORKED, more money for Jamie & cronies
We had a group in CIB, full of these people and no one knew anything about coding, SQL, VB, HTML, Java, Python, Not even basic stuff, yet everyone said that they had computer science Master's Degrees, just ridiculous
India offers “cheap” workers. You generally get what you pay for, large teams to do 1 project "absurd" resorting to this unpatriotic strategy are burdened with a workforce of unknown abilities.
Some are very good. Most aren’t worth a fraction of their salaries and may inflict more harm than good. The Made in USA co-workers are often required to compensate for commonly inferior skills of their counterparts. This results in reduced overall productivity. So, where is the savings?
Same in Tampa, Florida, the best EPV Operations analyst were cut, I heard only 2 people for North America support and a new and clueless crew in bangalore 40+ strong. Sh--_management all around us, lol
Agree!! These id--ts cut to the bone then bring in unqualified mo--ns from other departments that have nothing to do with the job. Look at what happened to fraud in New Jersey. A bunch of qualified good workers lost their job because they “cost too much” then they move the site to TX and proceed to replace them with lower level yokels who were from mortgage. Its a sham and a damn shame! No wonder the ship is sinking firm wide!