As goes the housing market, so goes the economy. BoA will see more and more layoffs and they won't be isolated to mortgage origination or lending departments... read more
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Topics regarding layoffs at Bank of America
BAC posted the best earnings in company history today! There are people on my team who equate this to HUGE bonuses! Yeah, right. I guess it is nice to dream.
I wonder if the global offices have as much drama/layoffs/vpn issues as the offices in the US. I know the laws in many European countries are much stricter when it comes to layoffs. How about Asia? Do you guys experience the same c-ap your fellow... read more
BAML equities have too many MDs. Some MD here are doing nothing! All because head of equities in favor of his old fellow! Need more HR listening! Fire MDs who receive low employee satisficafion score please!
All my team is in florida and i am only one in texas. So i work from home 3 days a week. Some one mentioned about a 70 hour vpn usage per month policy after which manager gets notified. How to measure how much wfh one can do?
And there is not a peep in the media. Nobody cares any more. Time to move on.
What's your prediction for 2019, given the macroeconomic trends and the overall push to cut costs? Layoffs or massive layoffs? Reorg in 2019? Again?
remember the employee satisficaton survey in June? It’s useless. Nobody care what you said. There is one front office trading managing director, received very low score. Nothing happen to him at all! Because he is friend of head of equities!!!
Front office trading managing director get to stay because of his personal relationship with equities head.
Ok. Looks like leadership needs more ideas to generate revenue. Let's help them out.
I know of at least 4 people who were given return to office locations recently. Their solution? They all got doctors notes somehow excusing them based on "sensitivity to fluorescent lights" and "severe headaches". There must be some validity as I... read more
I know of 7 people in GMCA who were laid off including myself. Anyone else experience layoffs today? Good luck out there.
Organizational update A message from Tom Montag To: GBAM employees Christian Meissner has informed me of his decision to leave the company. Christian joined the bank in 2010 during a tumultuous period in the markets. His drive and determination... read more
It’s hard for me to believe that anyone missed this, but just in case: Christian Meissner, investment banking chief is set to depart from the company at the end of the year, after a month long dispute with the management. Bank of America parted... read more
There is usually one firm wide lay-off in 2nd half of the year. Is it going to be the same case for this year?
Two guys I know filed a claim with the Equal Employment Opportunity Commission over MyWork return to office. Reason being is that women are being given the option to select a location close to their daycare drop offs and men in the same situation are... read more
Is impacting many employees in the Charlotte region. Over 100 roads are closed and under water. Many local schools will still be closed tomorrow. A rare FLASH FLOOD EMERGENCY has been issued for Central and Southern Mecklenburg County but have I... read more
Can somebody even imagine something like this here? If only I spoke German, I'd move there tomorrow. This German bank sees more consolidation after merging 19 times, no layoffs in 156 years... read more
if there is an upcoming layoff, please cut expensive front office MDs who can’t retain talents.
What BAC locations are affected by layoffs today? Anyone?
I was told to exit the MyWork program and was assigned an office in outside my state, as there are no locations near me. I pointed out that I will now have to pay taxes in two states. My manager said "no, just because you work in an office in that... read more
I’m hearing that the last action gave people 3 weeks for every year instead of 2 weeks per year. Anyone Have any idea what the official policy is?
Hope everyone had a great long weekend. Our area just got sent back to the office. Many were sent back to office buildings or office space above financial centers. Others were told that their status is "under review" because there are no office... read more
Predictions of a recession in 2019 or 2020. Any groups etc that will be safe?
the trick is to lay off expensive front office managing directors. BAML have too many incompetent MDs. they survived from layoff not because they are good but because of nepotism
if you are friend of head of trading, you will get guaranteed job security. you can do whatever you want or not doing anything at all. you don’t need to be qualified to be front office MD or manage a big team.
I got an offer from Wells Fargo yesterday. Out of all the places that are better than BoA, I get an offer from the one that's actually worse off. It's a good offer, but I don't think I'm ready to jump from the fire into the frying pan. I'll keep... read more
Whoever wrote the previous post about Consumer Lending must have had some advance knowledge. All the conversations were had yesterday. Some people are bitter. But most people are confused for two reasons. 1) The return to work locations were the... read more
does bank even have enough people for them to manage? some of front office MDs are cancers. they play politics all day and deliver little. their teams are desperate and frustrated. they don’t care about team but only themselves. they are selfish and... read more
Does anyone know what the official exceptions are to remain in the MyWork program? There is a document someone emailed that was very vague, but one reason was "personal hardship". This seems very subjective. The other question I have is how location... read more
What should the new name be?
That's what leadership looks like.
One of my business partners is assigned to the Operational Excellence project that is in Phase 2 right now. Apparently it is a multi phase project over several years. This partner is under the impression that as long as they are connected to this... read more
Rumor circulating about people getting letters about their pension and how bac wants to be done with managing it since it’s been frozen for quite some time. Anyone know anything?
And nothing has changed. I left/quit BAC about 8-months ago and prior to that, I was on this site a lot. Coming back today, it is all still the Fear and Loathing at BAC. This culture will never change in your lifetime. I moved to another bank and it... read more