Bank of America Layoffs

Topics regarding layoffs at Bank of America

Monday All Hands Conference Call

Not sure what will be said but... Here is how I see things: the exec mgmt has to do something, to react as it relates to C19 zero interest rates hurt us, big time no people in the branches, no upsell or no sell working from home hard to... —  read more 

Four Banks to Defer Mortgage Payments

Wells Fargo, US Bank, Citi and JP Morgan Chase will defer mortgage payments for three months. State chartered banks and credit unions will offer similar deferrals. Newsom said everyone is eligible, regardless of how much money they make. He said... —  read more 

Layoffs, Hazard Pay, and what's next

Are layoffs decided by pay? Just found out that my peer makes $10k more than me and does less. How can HR let this happen? Also, what will the bank do for the people risking their lives in the branches after this is over? $200 extra a week in... —  read more 

Working From Home

How is everyone coping with working from home? I heard someone say that their manager told them that this is indefinite. I smell tons of layoffs is about to happen and what about MSP? Will it be another delay because I heard if it is the company... —  read more 

Voluntary severance should be offered immediately.

Any contingency plans for layoffs should immediately be offered to employees willing to accept the severance package voluntarily. This seems to be a prudent step to quickly reducing expenses in this environment.

Coronavirus is a golden opportunity for BofA

https://www.linkedin.com/pulse/timing-next-financial-crisis-under-construction-dahn-shaulis/?trk=mp-author-card https://collegemeltdown.blogspot.com/2020/03/coronavirus-and-college-meltdown.html

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How toxic is the work culture at the bank?

On scale of 1 to 10 , 10 being most toxic like people working in Chernobyl and 1 being least toxic, how would you rate your department? I think gto is a 9. Toxic and stupidity everywhere .

Do the right thing

Layoffs will most likely happen in the next 60 days due to COVID-19. I'm not an insider, but that is my guess not just for BAC, but for most publicity traded companies. I hope the HR people at BAC, JP, and Wells who made the decision to pull... —  read more 

Leave banking sector

We are headed for another crash and I doubt that this time anybody will be willing to help us out like in 2008. The best thing to do right now is to leave the entire banking sector. Plenty of jobs available in other sectors that are not on shaky... —  read more 

Big layoff

There was big layoffs in Plano, TX something that they call as "STS"... 50+ people were laid off on 26th and 27th February 2020. Many more people will be laid off. BoA management have asked all manager too keep picture "very positive" so that there... —  read more 

Layoffs this week?

Anybody aware of upcoming layoffs? The last date I heard was possibly 2/28.

HB is gone!!!

Howard was not a great tech guy still was cto for a while. CTO is now split btw gbmt and cswt. What to expect? Will it matter at our levels? When is cathy going to quit!!!???

Band 5 Bonuses?? Title Changes??

What's the avg Band 5 Bonuses in GTO???..Does every band 5 get a bonus? Also, How do people get title changes. I see all my peers getting title promotions but not me..even though i had great reviews every year...is it because I am not asking for it??

Layoff

My entire global team was just let go. We have to stay to train our replacements. Onshore team members have been there 15-45 years.

Enough is enough!

I used to believe the Bank was motivated to retain employees. When you boast of stellar quarterly earnings but people don't get raises (some year over year) and bonus is the same if you get one, there's a serious disconnect. People are here to earn... —  read more 

Time for a healthy round of layoffs?

Many areas still seem seriously overstaffed. Lots of room for reduction of headcount expense. Do lower level managers have higher level managers fooled into thinking they need these bloated staffs? Low quantity and quality of work being done. Just... —  read more 

ex-CIO

Was SU responsible for the outsourcing at BOA? Think current employer is headed in that direction? Saw Tata in his history. Not at all promising.

How many people work at Bank of America?

Nobody knows when layoffs will happen, but the overall number of employees should be public info. Do you know how many people work at the company? How about the office at Charlotte?

Any word on layoffs in 2020?

No raise again. 15% smaller bonus. Expenses up. EPS only up due to share buybacks. Things seem shaky. Still lots of idle unproductive staff around.

Cheap A*S Bank

From the Fox Business News: Delta employees will have more than a billion dollars to keep them warm on Valentine’s Day. The Atlanta-based airline announced it will pay each of its 90,000 employees a bonus worth about two months’ salary on Feb... —  read more 

No salary increase ever

No salary increase ever (been here for 3 years) $3K bonus at VP level. Being asked to work longer hours and am routinely told we are lucky to have a job. Stay away from this place...

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