Topics regarding layoffs at Bank of America

Topics regarding layoffs at Bank of America

contractors

The company loves to announce how they pay high minimum wages. Right now it is $23 but they fail to mention that they are replacing jobs with contractors who make $19/hr. I wonder if the contractors know that these are jobs that should pay a minimum... — read more 

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Headcount

Lots of people retiring and hardly any roles are being back filled. BOA is getting what they want. Lower headcount streamline operations and paying out no unemployment or severance.

Mexican Standoff

It's clear the bank is trying very hard to induce attrition by making everyone miserable through RTO mandates, insulting raises/bonuses, and taking every opportunity to make the daily experience of working for this company as awful as possible. They... — read more 

Poor performers

Why is it such a novel idea to terminate poor and low performers who are not meeting their goals? That seems like the easiest way to accomplish the downsizing goals? Most teams have people who are not performing up to a standard level? GET RID OF... — read more 

union

can the company fire you if they hear you talking about starting a union? And I am all set with the pros and cons of a union. I am aware, just want to know what the company can do legally.

GT&O 3/2 RTO QUESTION

There is so many different inconsistencies with employees understanding the 3/2 RTO policy when a bank observed holiday falls on a weekday. My manager has told me regardless if a bank observed holiday falls on a weekday we still have to come into the... — read more 

WARN Notices

I just recently learned about this. You can search your state and the keyword “warn notice” and you will find the department of labor site with a list of companies that have notified them of upcoming layoffs. So far nothing for BofA in the few... — read more 

On Webex in OFFICE

It’s laughable that every dang leader/manager pushing the RTO workplace excellence joke is SITTING IN A PRIVATE OFFICE while we’re supposed to be onsite so we can all ENGAGE in the open floor (hope you find a desk) seating arrangement. What’s the... — read more 

Agile in Technology

Anyone else in technology agree that since we went to Agile, we NEVER get any "cool-down period". It's supposed to be in the "IP sprint", but we always use that to "make a date" that's been handed down to us from above. In the "waterfall" days, we... — read more 

Sick Policy

Co-worker was obviously sick at the office. Next 2 days off line. Has covid. RTO makes people come into the office when they are not feeling well. Bank could care a less. Don’t be fooled. What is the sick policy?

Proxy limitations - Admins

I’m at the end of my rope. I’m incredibly resourceful, but Faced with unreasonable demands that don’t have a solution. I’m an administrative assistant who supports an executive (and his team) who expect me to handle approvals and all sorts of tasks... — read more 

My Work letters

Evidently there are some MyWork notifications starting to go out. Expectations are to return to the office without documentation for accommodation. More attrition plays? People who have been WFH for 10-15 years may have a very hard time with this. — read more 

Salary disparity

How does HR justify and allow paying people with same job titles, same experience, same ratings, same education level, and same responsibilities such wide ranges of salaries? How is that ethical? I can (try to) understand a 10-15% differential but... — read more 

RAU grants

What are the grants based on? Relative to amount of stock received? Is it based on Band level or income? There are B4s who received different amounts of stock units so I’m just curious? Anybody know?

BM's pay cut

https://finance.yahoo.com/news/bank-america-cuts-ceo-moynihan-212851558.html (Bloomberg) -- Brian Moynihan’s total compensation as chief executive officer of Bank of America Corp. declined 3% to $29 million for 2023, a year in which pro... I don't... — read more 

Letter from Moynihan

BM said something about cash awards to a select number of associates and that managers would discuss with those who would receive in February. Has anyone heard when in February these cumbersome conversations will happen?

My work ending

I’ve heard various rumblings about the MyWork program….that they are going to have to re-certify and/or come back in the office. Anyone know anything? I got pulled out of it a long time ago and supposedly the whole program was going to be abolished... — read more 

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