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Discussion
JPM Jersey City - Were the recent cuts targeted?
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0x7036…5650Heard about the recent layoff wave at JPMC, specifically in Jersey City, around July 10th. Yahoo Finance reported it, but details are sparse. Does anyone have insight into which departments or teams were hit hardest? Seems like a pretty significant number of people, though no official figure has been widely shared. Wondering if this is part of a broader strategic shift or if it's more about specific underperforming areas.
I know there's always some level of restructuring, but the timing and scale feel notable. Was it across the board, or were certain divisions more exposed? Trying to understand if there's a pattern or if it was just a random culling. Any firsthand accounts or educated guesses would be appreciated. Trying to gauge the overall health and direction of the firm from this.