At age 58, I was laid-off from JPMorgan Chase in November 2020. And, I know from another coworker that JPMC has just done another round of layoffs targeting workers over 50 years old, as my coworker was notified that his job is being eliminated last month. From what I have seen over the past 10 years, JPMC is doing at least three rounds per year of layoffs where they are targeting workers over the age of 50. It seems to me that JPMorgan Chase is getting away with BLATANT AGE DISCRIMIATION. It's so outrageous that JPMC can constantly claim through multiple internal daily communications to employees and to the media that JPMorgan Chase is a diverse and inclusive organization. Systematically targeting and laying-off workers over 50 years old goes against diversity and inclusion policies. Jamie Dimon and JPMorgan Chase need to be called-out for this lie! Jamie Dimon should be ashamed of himself for allowing people to be laid-off because of age or any other reason during COVID, especially when JPMorgan Chase reported a revenue of $29.2 billion in Q4 2020!! Moreover, the projected earnings for Q1 2021 is $3.1 billion. It is deplorable and irresponsible for JPMorgan Chase, a global financial services firm with assets of $3.4 trillion, to layoff employees during COVID or any other time for that matter. Jamie Dimon loves to push to his employees to always do the right thing. It looks like for Jamie Dimon it is 'do as I say, not as I do' and he doesn't really care about doing the right thing! Were you 55 or older and laid-off from JPMorgan Chase in the last ten years? If yes, please share your comments. Also, I would love to connect with you.
12 replies (most recent on top)
I was also laid off in November 2018 after more than 40 yrs of service. Definitely an age based layoff. Retire benefits are basically nonexistent. Medical insurance is exorbitant.
I cant speak to every case like this, but from what I've seen in my 10 years here, its usually the highest paid person who stopped adapting to changing at workplace and not learning new things.
I have seen may be 1 or 2 exceptions to this which was when the managers were mandated to reduce workforce, in which case someone's gotta go.
hide yo ages...i never reveal mine and it helps I look younger...ageism is very real and even more real now with the preference for 25 yo as VPs and EDs by late twenties.
It means if you are low performing employee you will get the boote eventually regardless of age
So do you mean highly paid employees are at high risk and low paid are less risk of layoff?
The longer you work here, the more you make.... higher odds you get laid off.
While i have noticed there are less 50+ year olds...the one's I do see tend to be in mgmt position. Maybe, they could start looking at some of those mgrs who are great at spin but cant actually deliver and keep out younger workers for fear of being eclipsed...I dont think there is any reason to exclude older workers if they can do the job and the salary being offered...its mgmt that needs to be cleaned.
Looks like the trend here... Older and more experienced coworkers were let go. A woman in her 20s excels at spinning corporate catch phrases with emojis in emails and chat rooms stays
"Yet what greater defeat could we suffer than to come to resemble the forces we oppose in their disrespect for human dignity?" Ruth Bader Ginsburg
Coasting at an easy corporate job until you were 58 was a big gamble. What are you going to do now?
Of course it’s age based!
Not only they are laying off existing employees, they are also not hiring candidates who are in late 40s.
My friend has been applying for last one year on JPMC job portal and his resume is being rejected every time without getting call from recruiter. He has Masters from prestigious College of MA with excellent work experience of 25 years
He is sure this is age based discrimination.