Why do managers say cutting costs in their department and don’t do Layoffs instead ask employees to look for jobs why?

Has anyone negotiated more severance payout? If so, how?

Be careful when deciding to leave. That's all I'm going to say.

Below someone said they were letting employees go on Friday. Was that in mortgages? Is Cleveland, Ohio and Tempe, AZ the only mortgage/call centers still open?

JPMorgan Chase has agreed to buy Aumni, a Salt Lake City-based investment analytics fintech, the bank announced Wednesday. The deal, which is expected to close by June, marks the latest fintech purchase for the $3.7 trillion-asset bank, which is... — read more 

JP Morgan started laying off people today again.

Bo-m boxes with gospel music/ People constantly taking days off without preapproval while some never go on vacation. Non-English spoken even though the department is in the US and everyone speaks English, at least that is when they need to gripe!... — read more 

Please don't come to WF. Sincerely, All WF employees except Charlie and his cronies

Anyone having luck finding other jobs since let go?? The market is bare for everything even outside of mortgage. Probably sent 100 applications with absolutely no calls for interviews

https://nypost.com/2023/03/17/why-woke-frisco-fed-chief-missed-silicon-valley-banks-warning-signs/ This is a great article.

Here is how Bank of America plans to reduce employee levels - https://www.cnbc.com/2022/12/06/bank-of-america-ceo-brian-moynihan-on-how-he-plans-to-trim-its-workforce.html The same concept is applicable to JP Morgan Chase Tech. Employees who are the... — read more 

A new academic study on 2023 bank fragility concludes that 186 U.S. banks remain vulnerable to a run on deposits that doomed Silicon Valley Bank, Signature Bank and Silvergate bank in the past week. The paper by four professors concludes that the... — read more 

https://www.cnbc.com/2023/03/17/jpmorgan-ceo-jamie-dimon-aware-of-jeffrey-epstein-trafficking.html I was wondering why the JPM lawyers were going nuts, they knew this was going to come to light. Game over for this place.

It’s clear as rates have risen and the tide was going out their garbage business models would start falling apart. They have posted dozens of times on twitter about how the fed needs to lower rates to save tech trash and crypto. These clowns told... — read more 

https://voidnetwork.gr/wp-content/uploads/2016/09/Does-capitalism-have-a-future-a-book-review.pdf

I heard a rumor the at the next layoffs would be in June. Has anybody else heard something similar? I'm mainly asking because if this is true, that means we're safe for the next few months and I can stop stressing 24/7 over cuts. And yes, I know... — read more 

https://watcher.guru/news/jpmorgan-citigroup-overwhelmed-with-requests-after-svb-collapse The collapse of Silicon Valley Bank (SVB) has resulted in what many executives are calling, the most significant movement of deposits in a decade.

Jamie once again jumping the g-n, prep for heavy losses.. fking ta-d

Any blowback from Silicon Valley Bank?

Asking for a friend (wink wink)

Is there a push to fire people? Our inventory is down, but leadership just raised production requirements a lot for employees. Are they just raising production expectations to fire a lot of people?

https://www.msn.com/en-us/money/markets/no-soft-landing-is-in-the-cards-from-fed-rate-hikes-look-for-recession-and-a-buying-opportunity-once-stock-prices-decline

March? What do you know

I retired in 2015 after cleaning up the 2008 mess in mortgage and auto default. Enough said... I still shake my head at the mismanagement.

Nice!

Anyone receive a FedEx box to return your laptop while on LOA? I thought you were protected therefore Chase can’t let you go? I’m not sending my laptop until I’m officially terminated

Collect unemployment asap Apply for state paid medical

It is increasingly obvious that the leadership is totally clueless. I don't think there are many of us who think that our leadership knows what they are doing?

Hold tight and be prepared! No one in indispensable.

Tricia and Sean G thought they were so smart and tried to replace the field HLA (because we were overpaid button pushers to them) with moving bankers to HLS roles and creating the virtual sales team and took away branches all over our territory. They... — read more 

Was anyone laid off while being on Short Term disability? More than 50% of HLA’s in CA were on LOA and they got hit the hardest with layoffs.

With layoffs happening since Wednesday, a lot of my colleagues were laid off, all have been with the firm less than 5 years. All the ones they kept have been with the company for 10 years plus… Also, I received an email to return my laptop because of... — read more 

It’s been 2 full days now and still nothing from HR. I was told by Kevin Christopher as well as direct form stating I would receive information 1 day after term. Still nothing. Anyone else dealing with this?

I found exactly three articles about the layoffs. All the tech cuts are getting all the media attention and in the meantime, other companies and banks like ours are sneaking in major cuts with barely anybody even noticing. Not that it would make any... — read more 

I see from several posts that some of you were told by your managers or VPs that you are done with layoffs. What about those of us who weren't told anything? Does that mean that we can expect more today or next week? Or do we simply have a--hole... — read more 

What do you think about the new ranking system - more levels for a pay grade? And about 80% or more are assigned to the lowest pay grade. Factor in the lower than prior years review rating. An invitation to leave?

On the document it states if you find a position within Chase 90 days after termination date you are required to pay back the UNUSED portion of the severance pay. What if you "used" it all?