Warning by JPMorgan CEO Brings Back Layoff Fears
Key Highlights
JPMorgan CEO has warned that employees who don't abide by work from office mandate will be laid off.
More than 900 employees had submitted a petition to JPMorgan, asking the bank to reconsider its policy.
The warning by Jamie Dimon has brought back layoff fears in the industry.
Layoffs are never good - no matter who loses their job or when they lose their job. People have a source of income and losing it has many effects. A reason why these statements are the openers of this article is because the JPMorgan CEO has brought back the fear of getting laid off with a single warning.
Notably, Jamie Dimon has warned his employees at a time when JPMorgan reported record annual profits in January this year. It now remains to be seen if employees get fired, and how severely they are affected by this move.
JPMorgan CEO Warns Employees, But Why?
According to a report by Times Now News, JPMorgan CEO Jamie Dimon has warned employees about getting laid off if they don’t abide by the bank’s 5-day office mandate. He said this while dismissing a petition signed by 950 employees, asking the banking giant to reconsider its decision about work from office.
Dimon, reportedly, said that he doesn’t care how many people sign that f**king petition, asking employees to not waste time. He has told them that they could either work at JPMorgan or leave the company to work somewhere else. It is little known about how many employees will be affected if JPMorgan proceeds with the action of laying off its employees; however, it was last seen firing more than a thousand employees.
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Jamie Dimon has cited inefficiency in remote work and has demanded an increase of 10% in efficiency along with a push for fewer meetings, reports, and documents. Nevertheless, such a warning is a concern among employees who have potentially contributed to the profits that JPMorgan proudly reported in January 2025.
Other Layoff Cases
JPMorgan is not the only one playing with its employees’ source of income. Big tech giants like Amazon, Google, and Microsoft are on the case too. They have, according to a report published on Hindustan Express, announced job cuts. More than 2.12 lakh tech employees were laid off in the first half of 2023 and a similar trend persisted in the following year.
Other sectors which are on the verge of undertaking downsizing are retail and manufacturing.
Experts from these industries, or people associated with these industries, are justifying layoffs by saying that it is often the skill mismatch or technological advancement that makes them take such harsh steps. For instance, Dr. Archana Shrivastava, a professor at Birla Institute of Management Technology, has said that periods like reduced consumer spending compel companies to streamline their workforce.
PK Agarwal, Dean at UC Santa Cruz Silicon Valley Professional Education, has said that layoffs are mostly a reaction to changes in skills needed in the company, adding that companies value those with a learner’s mindset.
There is also a known theory that companies hire more than their capacity when the economy is in good shape. Once such companies have banked profits or have expanded, they are quick enough to fire their employees or terminate their services on short notice.
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Companies have multiple ways to justify their actions but not a single word on how badly their poor judgment or greed for profit affects those who lose their source of income, source of livelihood. If anything, top bosses come out to say that people need to work 70 hours every week or 90 hours every week.
Infosys’s case is the most recent addition to layoff cases. The IT giant, reportedly, fired almost 400 freshers with some of them being asked to resign in the presence of bouncers. Infosys has clarified that freshers were fired because they could not clear certain mandatory tests.
What to do After Layoff?
Employers generally continue chasing profits after laying off a certain portion of their workforce. Employees, however, are left in a limbo. All they can do is apply tirelessly, face lots of rejections, and finally secure a job which can take months to happen.
During that time, it is recommended to control spending as much as possible. Those who have been laid off can pursue online courses to enhance their skills or develop new ones. People can also consider transitioning into a new career, or pursuing a full-time Masters course from a good University. Try to take up a hobby that had to be pushed aside due to work.
Talk to friends and family members, or seek professional counseling if the unemployment phase is taking a huge toll on mental health.
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