9/10/19 Chase NY and NJ will be rifted.

Chase `\©/'
Sep 6 59 Comments

September 10th JP Morgan Chase employees in NY and NJ will be notified they are being rifted, layedoff or offered to move to Texas.


Update
https://www.bloomberg.com/amp/news/articles/2019-10-28/jpmorgan-weighs-shifting-thousands-of-jobs-out-of-new-york-area

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TOP 59 Comments
  • This comment was deleted by original commenter.

    • Chase / Eng Sha_
      He may have been referring to techno.
      Sep 6
    • Morgan Stanley
      summer_gen

      Morgan Stanley

      PRE
      Microsoft
      summer_genmore
      "we're not a bank, we're a tech company with bank department"
      :-\
      Sep 6
    • Capital One ba33p-1
      Hey! That's Capital One's line!
      Sep 8
    • Morgan Stanley
      summer_gen

      Morgan Stanley

      PRE
      Microsoft
      summer_genmore
      I heard it here as well. Got to admit it's a nice line to pickup engineers
      Sep 8
    • Chase
      ptgi36

      Chase

      PRE
      Neuberger Berman
      ptgi36more
      Bank CEOs did a trip to Silicon Valley in 2017 and they’ve been jizzing on themselves with trying to change office furniture, layouts, dress codes and saying “we’re tech companies!” to lure FAANG engineers. Can confirm you can’t put a shine on a turd and call it a diamond.
      Sep 8
  • Not surprised to hear this at all but OP I would be curious to hear how you heard about this.

    Anyway at JPMorgan technologists are purely costs to be minimized or eliminated. Management is highly incentivized in the form of their own compensation to shift jobs to other locations. Hasn't anyone else noticed all of the NY and NJ tech organizations that have been under a perpetual "hiring freeze" for years whilst new job recs are fulfilled in Bangalore and Glasgow?

    The sad thing is many of our business stakeholders are located in NYC, so moving all of the tech staff to not only different locations but also different timezones will significantly erode the working relationship between both groups. The technology we support will suffer. Management is cutting resource costs at the expense of our business's experience with our systems. In this industry you truly get what you pay for.
    Sep 6 14
    • Chase / Eng z0mb1e
      No matter how good that is, may not sound lucrative or easy enough to someone who has a spouse working in NYC area, a kid going to school and a house which needs to be sold or put on rent.

      Of course depends on the person and the severity of the situation.
      Sep 8
    • State Farm sweeeeee
      @vsf, seems like a lot of people are building homes in the McKinney/Allen area.
      Sep 9
    • Chase vsf fdp
      It's not just McKinney/Allen, but all over the DFW area. There's a ton of new building as well as remodels around. I've lived around DFW for some time and it's crazy seeing the explosion here.
      Sep 9
    • Compass 905
      Unless you’re a POC or LGBTQ, then TX is a hell hole always trying to take away your right to even exist or breathe air.
      Sep 23
    • Chase vsf fdp
      Um what?
      Sep 24
  • Chase chaserly
    I wonder what this means for people who accepted an offer for NYC-metro area. Are we still good?
    Sep 7 1
    • Probably still good but don't ever forget that jpm views technologists as third class, temporary workers. As soon as your MD finds his budget $2mm away from his top tier bonus target, bet your ass that he's going to inquire about desk space in Plano or Bangalore or Hyderabad.
      Sep 8
  • Chase / IT
    Irvd70

    Chase IT

    PRE
    Amdocs
    Irvd70more
    There is no place in TX so not gonna happen
    Sep 6 10
    • Chase / IT
      Irvd70

      Chase IT

      PRE
      Amdocs
      Irvd70more
      The team i lead also works from TX but from Lewisville office which is temporary location until plano office is completely ready.
      Sep 6
    • Chase
      ptgi36

      Chase

      PRE
      Neuberger Berman
      ptgi36more
      I’m saying that the team I work with is specifically in Plano.
      Sep 6
    • State Farm sweeeeee
      There’s a Chase office closer to Farmer’s Ranch/Irving if I’m not mistaken.
      Sep 7
    • Chase / IT DaItguy
      I was at Plano location within digital lob. Yes, its true that chase are laying off ppl. My manager been asked to let go 3% of the team and had given time until Dec. I'm happy that found something else and don't have to deal with that.
      Sep 7
    • State Farm sweeeeee
      @Dalt, can I ask where you’re going?
      Sep 9
  • Barclays PLC / Eng sscL38
    Does it sound like the onset of recession?
    Sep 6 1
  • OnDeck GPgj02
    Yeeehaw! 🤠
    Sep 6 0
  • PayPal wknu08
    Isn't Columbus the biggest office!. No change there?
    Sep 6 1
    • Chase groundzero
      Lower COL and salaries than the coasts.
      Sep 6
  • Barclays PLC _(:з」∠)_
    Any update or did we get baited?
    Sep 23 0
  • Bank of America / Eng 0xFFEE
    The title said tomorrow?
    Sep 9 1
    • Moody's / Eng HjDm88
      It previously said the 9th and not the 10th
      Sep 10
  • State Farm sweeeeee
    A friend that was in their Tampa, FL location got relocated to Chicago.
    Sep 23 0
  • Chase / Eng
    OFqo26

    Chase Eng

    PRE
    FactSet
    OFqo26more
    Can op shed some light
    Sep 23 0
  • Chase / Eng
    OFqo26

    Chase Eng

    PRE
    FactSet
    OFqo26more
    Overheard that in gti they are cutting more than half the data centers. I am not sure what this means but the person I heard from works in budgeting and project planning
    Sep 10 0
  • State Farm sweeeeee
    Any updates?
    Sep 10 0
  • Chase / Eng
    OFqo26

    Chase Eng

    PRE
    FactSet
    OFqo26more
    Where did op get this info?
    Sep 10 0
  • It appears nothing happened.
    Sep 9 0
  • Bloomberg pantry
    So what happened?
    Sep 9 0
  • HashiCorp / IT IPv6IsALie
    Thank you for this post OP. You're doing the right thing if this is true.
    Sep 6 0
  • Chase groundzero
    Been hearing this for a while and believe it to be true.
    Sep 6 0
  • American Express uktg07
    What?
    Sep 6 0

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