i am reading that there will be cuts in September but I see many openings within GT&O? Someone please explain why is that.
Topics regarding layoffs at Bank of America
What you all think?
BAC Salary Band - I got the info from PayScale, it's fairly accurate (source below)... Administrative Assistant - Average Salary: $55,970 - Salary Pay Range: $41k - $76k Assistant Bank Manager - Average Salary: $49,871 - Salary Pay Range: ... — read more
Do you guys young people on the floors during summer and then they join as FTE? I have been observing more and more of these young people within GT&O. What's the banks plan? I wonder why HR wants young talent given that have to be trained and are a... — read more
Our area recently returned everyone they could to the office. Of approximately 500 people, about 2/3 were returned. Those who remained on MyWork were too far in distance or had medical or other "hardship" exceptions. The extent of what "hardship"... — read more
A friend of mine who works in GT&O said BofA will start looking into these folks who are not on MyWork program but work from home on a semi-regular basis (1x or so/week).
Anyone watch the CNBC mad money video on flagscape? Moynihan said he has been giving 6% wage increases over the last few years and each year to those making under 75k. Really? My people under 75k did not receive that! Lucky if they got 1 percent.
When BAML says we are focused on responsible growth, does it mean: A) finding new industries and sectors to make appropriate loans and offer banking services; B) Moynihan’s way to push his political agenda onto BAML and the American public; C)... — read more
A consistently reliable source tells me that big layoffs happening in mid-August. No other info available. Can anybody shed more light on this?
The collapse of Deutsch Bank has been a long time coming but it’s here now and eerily reminiscent of the fall of Lehman Brothers. Although, taking place in Europe, US banks will be affected.
If trading revenue down again, shouldn’t bank lay off more Trading Managing Directors? Shouldn’t traders hold accountable for their P&L? Shouldn’t those expensive trading MDs who don’t make money be fired? Back when trading make money, only traders... — read more
Would someone on this board be able to help me figure out what Bank of America Band 5 salary is? I know that BAC has salary ranges for different bands and I was able to find info on Band 6 but no info on Band 5. So, please provide info on Bank of... — read more
Where are all the layoffs that were supposed to be coming this year?
My severance ends in August. I’m being recruited for several contractor positions at B of A. Here are the questions I have: 1- Will B of A hire me through a staffing firm as a displaced associate? 2- If I accept the position, does my severance end? — read more
anyone aware of what the vpn report that goes to managers shows? how detailed is it? does it go to all managers and show all employees, or just abusers?
I have better relationships with my peers working from home then being in the office. Plus, 99% of my contacts work in other states. Having the ability to work from home at least 2x a week will increase productivity amongst associates. The bank... — read more
Does telecommuting make it hard to connect with other folks at the bank?
What happened to "forgive us our debts"? https://seekingalpha.com/pr/17538808-nelnet-inc-announces-commencement-consent-solicitations-certain-student-loan-securitization — read more
Looks like US is due for another recession. How will the bank fare? Layoffs? GT&O layoffs? Certain LOBS and teams more vulnerable than others? — read more
Some managers tend to be intimidated by competent, productive employees, viewing them as a threat. Any employees with brains and skill can have a target on their back. There is rampant but subtle age discrimination once you hit your late 40s, early... — read more
We get questions about salary levels for different bands at Bank of America all the time. This board is littered with similar questions (there is one below) and there is a ton of posts on this on Glassdoor and Payscale website. Here are some examples... — read more
Please let me know more about Bank of America Band 6 Salary - what are the ranges and are there any differences based on: location level of education work experience Thank you! — read more
In order to minimize severance pay, are managers incentivized to make work difficult for those employees that they want to lay off? If so, can lawsuits be brought against them for fraud or something? I think this could be a breach of employment... — read more
Curious what people wrote in the free form area when they ask how can Bank of America improve.
Is there a cap on severance if you worked at BofA for say, 30 or 35 years? Or do they just make you miserable so leave on your own (or make up a "cause" to terminate) to avoid paying these days?
Layoffs are never ending, people are leaving this place in droves on their own, new hires are occasional at best... If it continues like this, who'll be doing the actual work? For now, leadership is only seeing the positive side of this as... — read more
Any news of layoffs next week? If they lay people off before June 1 they are not required to pro rate any incentive bonus for 2019, is that correct?
I will show up to work at 9am in order to make it to the standup meeting and will lie my as$ off about the status of my story. Then I will pour some liquor in my coffee while I browse this site and post some annoying c-ap, follow by more web browsing... — read more
Hello all I am currently in the process of looking for a job. I have been forwarded some interesting job openings including python developer using bank propiatory framework and Boeing 737 Max pilot. Which job would rather take? — read more
Bank of America is closing Bullhead City financial center. http://www.mohavedailynews.com/news/bank-of-america-closing-bullhead-city-branch/article_6577afb8-6bd7-11e9-abe6-db5deedfbdcb.html — read more
Many that have been returned from MyWork have handshake agreements with their managers to be in office Tuesday, Wednesday and Thursday. Work from home is fine on Monday & Friday. The problem is that many of these people sit next to or nearby people... — read more
Are employees, particularly those returning from My Work, being monitored for how often they swipe their badges?
People are talking layoffs will continue next week - any truth to that?
The competition is watching and lovin’ it ;) — read more
This is what you can expect when you lay-off experienced workers of all ages. The loss is compounded over time and will affect the bottom line at various points in the future. This will not affect managers' salaries and so they don't need to worry... — read more
once you hit your late 40's/early 50's, you will have a target on your back if you have been there for a long time. they will replace you with a younger worker at half your salary. they have a very systematic format for age discrimination to get rid... — read more
Lots of Managing Directors in trading are getting free money. Trading revenue is estimated decline significantly. However, Bank of America still have too many trading managing directors. These MDs didn’t create enough revenue yet get paid ten times... — read more