Last year, somewhere in February 2014, Chase announced 5,500 planned layoffs - this was in addition to more than 19,000 job cuts that were announced back in 2013. Yet, this is just a small share of of our global and total total headcount, which is well over 200K employees. At the same time we hired over 10K people last year, so we actually added headcount. Now layoffs and Chase cannot be separated, we'll always cut people and realign groups, but at the same time you should expect us to hire a lot and that is the nature of the best. Nobody can know how things will play out in Q3 2015 when I expect a major reorg to happen which typically results in massive layoffs and workforce reduction that tends to be fairly big even by Chase's standards.
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They are definitely closing several call centers.
If congress would get it's head out of its ass, they would force them BofA, Wells, Citi, and several others to break up. The place sucks and its getting worse, and the scary part is they control trillions of dollars. They are getting reckless, reckless=careless. Careless = financial melt down, financial melt down = depression in the United States, depression in the united states = global financial melt down. But the problem is they don't care. The hiring thing is bullshit, they do that so that they can say but look we hired all these people. The problem with that is, they will just let them go, shortly afterwards. The plan is pretty simple, outsource all of IT, keep the managers to make ridiculous amounts of cash, close down retail operations including the 100 billion of customers money because they are not making enough in interest, keep trading derivatives with more money that they don't really have. If they ever get caught on the derivatives the stock market tanks immediately. They sold the mortgages across the world that were shit, they inflated the values, they foreclosed on thousands illegally, they manipulate the libor markets, they manipulate gas prices, they manipulate oil prices, they manipulate credits and credit swaps, they manipulate other currencies globally, illegal collections activities, they put veterans out on their asses and repaid their cars, they trade crazy amounts of shorts that don't exist and now they got caught doing it again. When will it stop, I guess in the long run a layoff is a blessing in disguise. Diamon and company have sold their souls to the devil, and expect you to be a good soldier along the way.
THIS IS EVERY ASSHOLE CHASE MANAGERS DREAM!!!!!
They can always pass the buck............
Its obvious......they continually lay people of and hire /outsource/offshore a cheaper rates.
It's their definition of circular logic.....
There is no such thing as company loyalty for this shitbag company.
It just happened. I just got the axe and I work in IT. Major projects will be put on hold and millions waisted. Way to go JP Morgan
From what I heard there will only be 18 hubs world wide. So there's going to be a lot of cutting and moving departments to new locations to consolidate.
They announced they are closing 100 non branch locations by the of 2016. That means thousands of layoffs even in 2015.
What do you think will happen in 2015?