First domino to fall? JP Morgan firm-wide hiring freeze

Interesting Bloomberg article regarding JP Morgan hiring freeze:

"JPMorgan Chase & Co. froze hiring across most of the firm as millions of people stay at home to help stem the spread of the coronavirus, according to people familiar with the matter...The bank asked managers in businesses including the corporate and investment bank, the consumer unit, and the asset- and wealth-management group to review job postings and pull listings for roles that don't need to be filled immediately"

link: https://www.bloomberg.com/news/articles/2020-03-2…

Could this be the first domino to fall?

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Comments (16)

Most Helpful
Mar 24, 2020 - 8:24am

It does not really appear to be a big change. No sense to hire now. If they said rescinding summer or FT offers, then you have a domino.

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  • Incoming Analyst in S&T - FI
Mar 24, 2020 - 10:37am

Betting a lot of IBs have also frozen hiring, just more on the DL. From an HR perspective, is a good idea until a clearer picture of what the market will look like emerges.

  • Incoming Analyst in IB - Gen
Mar 25, 2020 - 10:57am

By mid july- august credit markets will be functioning normally - so Lev Fin and DCM will be busy, and then given the lagging effect for M&A, deals will be round the clock by mid september, so nothing will happen with incoming class as the banks will get crushed with work at that point. Remember this is not a financial crisis- its a health crisis and when the cures are fully available and testing is plentiful businesses will be back up and running

  • Prospect in IB-M&A
Mar 25, 2020 - 11:02am

Apparently this needs to be said louder for the people in the back. Everyone - stop freaking out

  • Prospect in IB-M&A
Mar 25, 2020 - 12:17pm

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