You heard it first -

[InkAddict]

JPMorgan Chase will begin layoffs in their Home Loans IT department in central Ohio and nationwide within the next two weeks. 167 employees are scheduled to be riffed initially by the end of the year; the remaining staff will be required to be made up of 30% off-shored (India) resources. Further cuts will take place beginning in 2010 with the ultimate goal being 50% of the remaining American jobs off-shored by the end of 2010.

Similar layoffs of the same size are supposedly to take place throughout the entire bank nationwide.

Any commentary by JPMChase to the contrary is pure BS!

While this is probably not a surprise to anyone considering the duplication of services that came about with the purchase of WAMU (former WAMU headquarters in Seattle is to be completely eliminated), it still sucks that they take TARP funding, pay bonuses under contract, and proceed with the purchase of new corporate jets while eliminating American jobs for taxpayers who've been ripped off by Geitner & Co's coziness within the banking industry.

I URGE ANYONE W/ACCOUNTS HERE TO GET ON THE STICK AND DO BUSINESS ELSEWHERE...because this bank is corrupted to the core!

[Hawkeye-X]

1. Any companies who offshores to shore up profitability needs to DIAF

Repeatedly. Take your products off the US shelves and move it to India. I'm sure they'll appreciate you even more if your entire company moved there and stayed there and kept off the US shores.

FUcking outsourcers. They need a heavy tax levied on them to show them how UNPROFITABLE it is to offshore jobs.

Hawkeye-X