Bear Stearns employee....should I stick it out??

Question

I work in Human Resources for Bear Stearns. Not a high up position, but I'd like to get absorbed into JP Morgan if it's even a possibility...

Should I start looking for a job now and jump ship? Should I stick it out at Bear/JP and see what happens? I don't want to lose my job but I also don't want to sit around for a few months waiting for them to give me the ax.

What are the chances they will absorb any Human Resources employees??

I just don't know what to do at all...

Additional Details

Marla - I don't know if they will keep any HR or not, that is why I am asking for input. The pictures of people leaving on TV are people who worked on the weekend and were going home. When people are laid off, I'm the one who terminates them in our systems, so I know there were no layoffs from this just yet. Also, the reason I say "months" is because this deal is not finalized for 90 days - there is a good chance we won't be let go before then.

Also, for the one who said they are not hiring so they wouldn't need HR...not even 10% of what HR does revolves around hiring...it is much more than that.

I'm not making any assumptions about what they will do or who they will need, I'm just trying to get other people's opinions, because along with 14,000 of my coworkers, I'm just nervous.

Answer 1

Best Answer - Chosen by Voters

If an independent consultant shows up, get out! That means wholesale lay offs. Otherwise, you can stick it out. People getting fired need to HR to process them out.

You are safe for now.

Answer 2

You have no chance of keeping your job. Hiring is going to be like zero for the next 9 to 12 months, so why would Chase keep HR people? Also, adding a few thousand people to their massive organization won't cause them to need more benefits people either.

Happy job hunting!

Answer 3

Talk to your boss. He or she should be able to advise you on the prospects.

Answer 4

Keep your eyes open for jobs at other companies ..Until you know what's going to happen after JP Morgan takes over .. you are in jeopardy of losing you job.

Answer 5

Start looking now!

Answer 6

Prepare your resume, and start looking for what's out there. Don't jump ship - you might benefit more in the long run if you stick it out. If you do become a victim of "re-structuring" at least you'll be prepared.
I was in the same boat 25 years ago - a small company known as "Grumman's Areospace"

Answer 7

Send out resumes and take time to go to interviews. It will take a while probably but if you get a decent offer take it.

Answer 8

Stick around, the JPM/BSC deal is done but is not over. It's not that the JPM would let everybody go. The axe might fall, no body likes to lose the job but they'd give you a severance package.

Answer 9

I would probably guess that your position will be redundant in a Bear Sterns/JP Morgan merger.

If I were in your position, I'd be working on my resume, and "testing the waters" to see if there are any HR positions open.

The point being that you stand a better chance getting another position in a different firm now rather than waiting for the powers at JP to decide your fate.

Answer 10

Employers are important to a company. When a take over occurs management usually makes every effort to assure employers that they will keep there jobs because otherwise the good employees are the ones to leave and the bad ones stay.

If you don't hear something soon you should start planning your escape because it means they don't want to keep you or they are incompetent and arrogant. However it is possible that the 2 companies will remain seperate entities for several years.

You are now part of JP morgan, so you should be able to apply for internally advertised positions.

But you never know what other job offers might be out there, so start looking. If you get a good job offer you are in a good position to negotiate a move to JP morgan. If you can't find a good job you just have to wait and see.

Answer 11

Why would JP Morgan absorb Human Resources employees. I mean there are pictures of people leaving on TV. Not only that but why would JP Morgan hire you if they are going home, like not to JP Morgan. Also, I wonder why you think you have months. The stock is $4 and people want to sue. Your not in a wholesome cozy place of employment.

Answer 12

DEFINITELY GET YOUR RESUME READY...

As a matter of fact...get it online NOW. This very minute. I predict layoffs are gonna be faster than you can say Enron and MCI.

I don't mean to sound crass. Its just that I HOPE someone there goes to jail...don't worry. It WON'T be the Human Resources personnel.

Just between you and me though...did Caynes inhale when he got caught smoking dope in Memphis with the waitress or did he use the playing bridge in his room defense there too.

Where's Spitzer when you need him...oh I forgot...he's holed up in his room with a hooker.

Answer 13

Often, HR staff are kept on for a long while during these types of transitions. There is a lot of work to do in moving people around to new positions or in terminating them. Sometimes this means you can hold out for a package.

That being said, the best thing to do is be aggressive. Reach out to the JP Morgan Chase side and ask about possible positions. Prepare your resume and get it out into the market ASAP. Get your name into the hands of recruiters who work in or around your industry.

Answer 14

It really is not a question of staying or going. The new market requires all of us to be agile and ready for change. A constant focus on improving skills and abilities to add value to and for our associates. To seek no comfort in employment with out constant growth on a personal level.

Because what you learn you can take with you. So the question is more to the point of are you prepared for change, or have you become comfortable at the job?

My feeling is that you should always be a passive participant in the labor market, at all times. Ensuring contacts and relationships are in place to meet the unexpected.

With the possibility of job loss at your door. I would be contacting JP and other related firms for the limited number of positions that may be available.