- JP Morgan Chase and Co15.Dec 2015
Years after the Bank One buy out of JPMorgan Chase the management culture is 98% Bank One. The 2% group which are generally older employees are progressively being targeted for disciplinary action, forced retirement, or so much pressure they leave. If your younger than 35 and don't mind being micro managed, doesn't matter if blue, green, gay, or straight, christian, atheist, etc you can have a future there. Advice, never say anything negative toward anyone in management or a outdated business practice . . . because if you do you will not be left alone until you cave and leave or or forced out due to impossible unrealistic production quota's. At Chase it's all about giving the shareholder a return, and that deliverable is reset 3 to 5% above prior years target each and every year. That means head count cutting is the only way to make targets. Cut the older, higher paid staff and bring in new blood. Do the research on the firm over the last 10 years. Layoff 20 hire back 40 generally in less than 6 months, repeat! As a manager it's a nightmare because you can't retain good talent when the financial cap is cut so low staffing is the only way to reach/make a matrix.
Suggestions for improvement
- Offer a employee survey where SID# isn't required to rate a manager. No one is going to report on "any" issue or employee actual problems when there is no amenity . . . an everything can be traced back to the employee level. I had a great up-line manager, it was the person's directly above my manager that were the problem . . . and continue to be now.