Do we know if we can expect more layoffs at JPMC today or did they notify everybody they wanted to yesterday?
If it's not done, and ideas on what might be hit next?
Just checked this forum for other banks and it looks like layoffs are happening all over the place. This is not good...
They also do small groups because if it is 400 or more in one site they have to report it to news and give a longer notice of the RIF, I think 90 days.
I just hope more departments dont get stuck with more "mortgage people". #worthless
There will be cuts coming to mortgage all around in Tampa in the next month or two. Customer support for default, underwriting and project approval group will all get the boot
Just hear few people from CA customer support (loan servicing default) in Phoenix got the news. That need to either look for another job or get their package
JPMC also lays people off on Thursdays. If it is a one off situation it my be different but RIF/lay offs are done on Thursdays. Just FYI
There are more coming. Managers were told to give staff poor performance ratings regardless of their actual performance. This is how they develop the lists for rifs. They start with the poor performers.
Someone also pays the news outlets to keep it out of the headlines. No mention of the layoffs anywhere. They also pay google to suppress the search results.
JPM does it in small multiple waves over a period of time.
So that HR can manage the exit requests.
So that the voices collectively doesn’t become loud and gets picked up on the news.