JP Morgan lays off 1000+ employees at Newly acquired First Republic Bank
Layoffs are not good for anyone but do any of think JPMC needs to cut it's Indian workforce a bit? Basically 2021, 2022 and 2023 have seen a good chunk of way too less skilled freshers also becoming a part of the workforce through the controversial Campus Hiring procedure. It was a part of their hiring strategy to fill their newly built Bangalore and Hyderabad offices.
Yes, you noticed it right, there has been mass hiring through their campus hiring program
Mass hiring isn't wrong if they can be productive. However a good chunk of those hires weren't even skilled. A large portion of luck involved and them being good enough to fake it till you make it
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News of jpmc doing layoffs after Morgan Stanley last week is out. Wanted to know if any teams, departments or employees in India, Mumbai and Bangalore are affected? If anyone has any info, please share.
The economy went down? Yes. Did it affect all kinds of companies? Yes
Did the banks fire any one? No Did the Railways fire anyone? No Did the media agencies fire anyone? No
Did Large Tech companies and IT fire people? Absolute...
Not the way it works. It's a function of how fast an industry grows -> The faster it is, the more you have to hire i...
Apparently a huge Goldman Sachs layoff is about to come soon.
The company has taken a huge cost reduction target