J.P. Morgan Securities is offering each employee released by the company a book titled As You Leave: Your guide to leaving J.P. Morgan Chase. One former senior bond executive declined to directly address whether he found the pamphlet helpful, although he did speculate as to several potentially creative uses for it, such as wiping up spills, keeping drinks off the coffee table or house-training a pet.
The 32-page book contains several sections, including "What to do if you are leaving J.P. Morgan," "About your final pay," "About retirement plan and 401K," "About your participation in other Chase benefits plans," and "Other important benefit information."
The executive recalled the day he was told he was being cut. He received an email from his boss and met with him a half an hour later. Fifteen minutes later he was meeting with a human resource pro that handed him the "Choice" booklet and answered his questions.
Brian Marchiony, a J.P. Morgan spokesman, declined comment on the book, other than to note that "Like many firms, we have such a handbook that allows employees to transition their benefits smoothly."