JPMorgan Chase, the largest bank in the U.S., reportedly plans to end remote work and require more than 300,000 employees to be in the office five days a week.
We can outsource physical labor, now we can outsource intellectual labor. Fly em in, give them the lowest wage they’ll accept, threaten with deportation if they fall out of line. This is the kind of deal these companies are really looking to exploit – they save money trimming their higher-paid talent while replacing them with someone being paid far less. It’s a win-win for the corps
And it’s not even guaranteed to work. All corporations seem to be doing (quiet) layoffs so most employees just suck it up and commute, brimming with fresh resentment.
Any quiet firing will tend to selectively get rid of more good workers than bad workers. The stars with good resumes and reputations in the industry can find good work elsewhere, and on the margins shittier work conditions will cause them to leave. The ones who can’t get another job are the ones that stay, and aren’t going to be as productive.
Which is fucking stupid, because you lose the good talent and get left with the ones who can’t find a place that treats them better. But then again, it’s just standard modern day capitalism trying to make the line go up for another quarter, no matter the long term detriment.
So, how many employees remove JPMorgan from their workday and choose a different employer?
Likely quite a few, which is the point of the entire exercise.
Yup. This is quiet firing. Companies are trimming payroll in preparation for the Trump economy.
It’s a dumb short term move though. The employees you’re going to lose are your top performers.
I remember this being panel two in a Dilbert strip (from back in the days when Adams did a great job of presenting as sane.)
Back when Dilbert was the main character, before Adams turned into the PHB.
Capitalists only ever care about next quarter.
Ehhh H1B is panacea–just you wait and see! 🤡
We can outsource physical labor, now we can outsource intellectual labor. Fly em in, give them the lowest wage they’ll accept, threaten with deportation if they fall out of line. This is the kind of deal these companies are really looking to exploit – they save money trimming their higher-paid talent while replacing them with someone being paid far less. It’s a win-win for the corps
And it’s not even guaranteed to work. All corporations seem to be doing (quiet) layoffs so most employees just suck it up and commute, brimming with fresh resentment.
Any quiet firing will tend to selectively get rid of more good workers than bad workers. The stars with good resumes and reputations in the industry can find good work elsewhere, and on the margins shittier work conditions will cause them to leave. The ones who can’t get another job are the ones that stay, and aren’t going to be as productive.
Which is fucking stupid, because you lose the good talent and get left with the ones who can’t find a place that treats them better. But then again, it’s just standard modern day capitalism trying to make the line go up for another quarter, no matter the long term detriment.
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