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
Yeeehaw! 🤠
Does it sound like the onset of recession?
Recession at Chase
Been hearing this for a while and believe it to be true.
There is no place in TX so not gonna happen
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.
Isn't Columbus the biggest office!. No change there?
Lower COL and salaries than the coasts.
I wonder what this means for people who accepted an offer for NYC-metro area. Are we still good?
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.
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