Does the Bank layoff software engineers or just other IT people? I mean the software engineers automate tasks which lead to other layoffs so... How can the bank hire and layoff people in the same time span?
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Topics regarding layoffs at Bank of America
When will things improve, I am still hearing about layoffs in Charlotte.
I am considering leaving the bank voluntarily and expect to receive a job offer from another company within the next few months. What is the cutoff for receiving the year-end bonus and 2% annual company contribution if I resign? Do I have to be an... read more
Question to all, I got laid off in 6/2017, I know about penalty on loans that existing, however, can I make an early distrobution from my 401K in calendar year 2018? I know about the penalties and tax implications, however, is there anything that... read more
Anyone knows how to access this site from my work computer?
Today my colleague and I decided to build sandcastles. In order to meet my colleague, I flew my Gulfstream G650 all the way to the beach where my colleague and his roommates rent a small apartment. Since I have many resources I paid top dollars to... read more
Now when the insurance enrollment had started I have to pick an insurance company again to fit me and my kids and husband's needs.I've always had Aetna PPO.I know its more than BCBS,but I think its because its better.Can anyone advise if its worth... read more
Who else has a Charlotte commute from hell? 70 minutes to go 18 miles this morning. Wake up bank execs - your employees are miserable! Maybe that's how you want it to be!
It would be a very good idea for management to buy donuts this Friday.
As an Bank of America employee I can see that this bank has good working environment for all - employees and clients too. Thanks him for that! (https://boalocations.com)
I was told that the associates laid off yesterday were given 18 months severance, no matter how long their tenure. Could they be pulling my leg?
My goal for the night was to get drunk and troll this site all night but half way through my bottle of alcohol I stopped and thought why not do something more productive with my time and start something I enjoy? I know I like to learn new things... read more
After many years working in IT I was let go recently. First time being let go during my career and having always been dedicated to my job, always wearing the company shirt. This is a very sad moment folks. Hope you don't go through this. It is hard... read more
I wonder why people stay in this company when there is a constant threat of layoffs.
Were any new FTE's (straight out of college hires) impacted by this? Any H1B's impacted as well (full time employees) not contractors?
With all the layoffs and "hub consolidations" what are the cities that host hub sites now? What if you work in a state with a Hub site but are miles away (50) and currently my work? There is nobody else on my team or in my role at this Hub location... read more
I was warned that something big was happening on Thursday but I was not impacted. I will not feel secure until 1pm tomorrow (there are always surprises). However from what I can tell this is a continuation of hub consolidation. If you are a mywork... read more
Do we know who was affected by this weeks layoffs? Which locations, which departments? I see people mentioning large groups of people that were let go, but very few details are given. My wife works in IT, so I'd like to know if we should be stressing... read more
Another day where we will only find out what happened to our friends and coworkers as their email comes back unread or undeliverable. Thoughts and prayers to those families affected by today's layoffs
Do you notice how some managers from out of town only show up during layoffs?
https://www.cnbc.com/video/2012/09/20/bank-of-america-to-begin-layoffs.html That means Charlotte and Jax are about to get hit...goodbye LAS.
FYI - when you are "released" from the bank you will receive a package that provides an estimation of severance along with legal documents, If your line of business has decided to pay you for 2 weeks of pay that will be denoted within the high level... read more
More cuts in Cathy’s group – we’ll see how things pan out on the tech side and what groups will be affected the most– they (Cathy & Co.) are playing it down but this one will likely be a fairly big one. Anyhow, hey are hitting the mortgage side again... read more
Are these hubs and do you know what happens to them in the future of hiring/firing?
The vast majority of the time layoffs are unwelcome news for all involved; from the employees and managers to hr personnel. But I'm sure there was that one time when you were about to resign and news broke that you were laid off. Has it happened... read more
In the coming days, we'll be compiling information regarding your options around severance pay, COBRA, 401(k), etc. Feel free to join our LinkedIn Group and invite others you know that may be affected. The link for the group is:... read more
Hearing it's planned for 9/25. Anyone else hear the same?
Do you have any updates on the planned layoffs at Bank of America Merchant Services (BAMS).
Band 4 employee here, at risk of being laid off around the first week of December, based on prior precedent. Do they still give you the year-end bonus ("variable compensation") if you are laid off in December? Or do you have to be actively employed... read more
I wonder if it is normal for People to have so many meetings. Tomorrow and next week look just as bad. How can anyone get sh-- done with so much nonsense?
FYI - Ask HR for a copy of the "Retiree Health Plan Summary Description" doc - 130+ pages. It describes in detail eligibility for coverage. It doesn't describe the calc itself for any BAC contribution. That would be reflected under retirement... read more
They didn't want bad press for being insensitive
Sr. Management at the bank has no idea of the talent they are losing. They think just outsourcing it is simple and done. It's not! It takes years to learn process and systems. Looking to improve a quarters bottom line at the expense of continual... read more