Bank of America Layoffs

Topics regarding layoffs at Bank of America

Earnings are weak and Below Expectations!

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

It's all about getting rid of older workers

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

Free Money

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

Do you see a future at BoA?

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

$$$ The boring way

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/
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Post ID: @YwUPASY

when is the next layoff for remote workers?

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

Expertise is not important anymore

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

Older employees at more risk

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

Layoffs next week?

There were rumors going around recently about more layoffs mid-March - is that still happening or was it proven untrue?

Forced band reduction, what are my options?

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

G t & o no more monthly incentive

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.

Stay away from Centralized Risk for CSWT

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

Employee Satisfaction Survey was Useless!

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

Laid off and no reason given

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

401k Contribution

Anyone else not get the yearly 401k contribution? I don't recall any news that it was not happening this year.

Layoffs today?

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

MyWork - Numbers left

does anyone have info on how many mywork people are even left in CB’s organisation? is it going away this year in total?

Layoffs in GT&O Finance

I’m hearing associates in Jacksonville were impacted. Any other locations?
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Post ID: @XLTGvY8

Wednesday Layoff

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!

Can you feel it?

"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

WHY DON'T YOU UNIONIZE!!!

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

A blessing in disguise

Anyone and everyone ever had been laid off from the Bank ends up in better spot. Don't get discouraged. It is a blessing in disguise. This sentence was originally a reply to one of the other threads by @XG0fl1n-ucx . Have to say that I agree 100%... read more
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Post ID: @XHOvXbz

Recommendations

I'm looking for recommendations on what to do after being laid off with a little one

No prorated bonus

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.

Advice to Millenniums; don't be loyal!

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.

2/27???

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?

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