Layoffs hitting JPMC today
Myself and my entire got team got notified that we are getting cut and have 45 days to find other roles internally. Product and engineering both are impacted. Hearing other orgs are getting hit as well.
I thought banks were “safe” - kept seeing JPMC referral offers
Exactly! I’m so confused.
Jp Morgan literally had a record breaking year due to small bank customers turning to big banks. The only correct answer is corporate greed
Sorry to hear this, OP. I know that JPMC was hiring a lot and that a lot of referrals were going around, but I didn’t know that layoffs were happening today. Everyone affected will bounce back with higher paying jobs; good luck! 🫡 TC: 90K
Last month, recruiter contacted me for JPMC job but I was not interested so I declined. So they are laying off and hiring at the same time, just like some of the big techs
They are offshoring everything, have serious employee tracking now, and strict RTTO
They are moving most of the positions to India
But wait, I thought there would be a limitless need for expensive domestic SWEs with inflated TCs, and that's why everyone is studying CS. I thought companies wouldn't outsource to foreign labor because they love North American workers so much 🤔
Right, but then many of the leadership positions got put in the hands of pro indian Americans. First it was the Europeans eating American's lunch and soon Asia will pick a seat at the table. I wonder how long all of it will last 🤔
Didn't JPMC buy up First Republic Bank? Maybe they are trying to offset the books on that acquisition.
Welcome to the club
How many members?
Are they moving everyone to Jersey?
To Bangalore
To Hyderabad and Mumbai also
Damn sorry to hear that OP. I know a bunch of people who got cut from Morgan Stanley yesterday. It’s terrible
Sorry to hear that: do you know what percentage of people getting hit? Are you in DS, AI/ML?