Overwhelmed by workload given recent layoffs

My bank had pretty deep cuts recently. I'm pretty much the only junior left.

Currently feeling extremely overwhelmed by the impending workload, mostly the miscellaneous stuff. The one associate left seems to be pushing all the miscellaneous work to me. From speaking to him, it seems like he was not given any additional work even with the reduced headcount (he said it's coming, but he just doesn't know what and when). 

Should I let the associate know? Or should I speak to my boss directly? My boss did say I could go to him any time if it's too much but I haven't really started on the "new" workload (given the year-end seasonal slowdown) and don't want to seem like I am complaining without even trying. 

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