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Topics regarding layoffs at Bank of America
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
Just wondering if any of the younger employees see a possibility of a long term career at Bank of America or is everybody under forty here only until they can get something better? That seems to be the case for most of the new people I met, which, if... read more
Well that was a quick 10%. Enjoy your: 0.03%–0.75% annual percentage yield (APY) depending on term and balance https://www.bankofamerica.com/deposits/bank-cds/cd-accounts/
If they don’t make money, why they get paid so much?
is there another wave coming? (we know the layoffs are happening all the time but is there a big wave coming associated with the location strategy that was openly shared in reilly's organization?) he said there were just over 200 left in the program... read more
Bank of America is laying off more than 120 employees from its home loan department in Simi Valley effective later this year. The financial institution said the layoffs will occur in two phases – May 13 and Nov. 7 as it consolidates and reduces staff... read more
Older workers cost more and usually have less energy and don't always do as they are told. Since the bank does not take any calculated risks at expanding the business anymore, expertise is not really important any more and so the menial activities... read more
Can we get that playbook from someone at Wells Fargo? We kind of need it ASAP.
KEEP WORKING HARD BYTCHZ! Bank of America boosts CEO Brian Moynihan's pay 15% to $26.5 million after record profit last year BofA boosts Moynihan's pay to record $26.5 million. Bank of America awarded Chief Executive Officer Brian Moynihan a record... read more
Eliminating jobs? Are we in for a big layoff?
From what I'm seeing, majority of people who were laid off in the past several years have been over fifty. There are some younger folks in there as well (can't make age discrimination too obvious,) but it seems pretty obvious that the goal is to... read more
Could it happen this week/ layoffs?
Does anyone have a true list of sites that are considered core? And is there a date for when all are supposed to be in core sites?
I've noticed that morale (at least in my office) has gone from bad to worse. Nobody engages in friendly chatter anymore, nobody laughs or even smiles - it's like a dark cloud has settled over us with no intention of moving on. Is it just me or is... read more
There were rumors going around recently about more layoffs mid-March - is that still happening or was it proven untrue?
I was reduced from a band 4 to a 5, responsibilities reduced slightly, no immediate salary reduction. I didn't want to poke the bear and ask "What if I dont want this? What is the alternative?" So what IS my alternative, could I have asked for a... read more
Best cost cutting sharade yet my monthly incentive gone. Then they tell me I got a salary increase It was about 60 perecent of what I had been averaging in incentive. Hell of a way to let us know we just got a pay decrease.
After 10 years I was laid off last June. The Gestapo “Executive” BS that come over from Merrill Lynch completely destroyed all the momentum and teamwork developed before the id--ts came over. DM and GC are the abbreviations for the complete mo--n... read more
Why bank ask for employee satisfaction every June? Most of reckless managers were not laid off Wed. Irresponsible managers are huge problems yet bank management didn’t do anything with it. BAML have way too many managers than it actually needed. Many... read more
After 20 years at BAC I was laid off without providing a reason. Manager blind-sided me in end of year review that I don’t do x number of projects. Something I was never told. It was ratings! The dynamic of the job doesn’t require that but new leader... read more
Anyone else not get the yearly 401k contribution? I don't recall any news that it was not happening this year.
Do you think the layoffs might start today instead of tomorrow? Bank of America usually has layoffs on Tuesday, which makes me worry. Not that I don't worry all the time, considering that job security is a thing of the past at this place. I'm... read more
does anyone have info on how many mywork people are even left in CB’s organisation? is it going away this year in total?
I’m hearing associates in Jacksonville were impacted. Any other locations?
Let us propose a new metric MD ratio. That means how many MDs in a given cost center. Some cost center doesn’t make money but have way too many MDs!
"Moody’s said U.S. corporate leverage now exceeds levels seen prior to the financial crisis, creating direct and indirect risks for American banks. Fortunately, Moody’s associate managing director Andrea Usai said banks are much better-positioned to... read more
Instead of all the complaining and worry. Why not just unionize. Get bunch of you together and unionize. It s the only way to ensure you are taken care of. Think of all the local state and federal employees with pensions. That nly happens because of... read more
I'm looking for recommendations on what to do after being laid off with a little one
Word of mouth and some posts here last year said that annual bonuses were prorated if one were severed after mid-year. There's no mention of it in the severance package and none was received on Feb 15. Thought you'd want to know.
If the company hired you because you are young and cheap take notes because one day you will be old and wrinkled .... Take all your vacation, take full hour lunch breaks, make use of sick days and always be on the look out for a better opportunity.
Hearing the 27th, but not hearing what groups will be impacted; supposed to be "a deep cut". Anyone hearing similar or maybe what groups will be impacted?
I was watching the series on HBO called "Silicon Valley" where they mentioned the term technical debt. Originally I had thought that it came from guys that originated in Socialist countries but now I see that it is a pretty mainstream term. I'm... read more