Since last week, there have been news surrounding this topic but no one is talking about it here. 50% or more of the department's associates were impacted, can anyone verify this to be true?
Below is the most recent news article about this, I couldn't locate any press in more recent days.
https://ca.finance.yahoo.com/news/bofa-downsizes-mortgage-business-staff-191004835.html
The change in grade levels - were salaries reduced? And yes, I know that a new grade level means a new minimum, midpoint, and max for the same work but with lower potential. I am just trying to figure out how this will shake out.
Yes. I was a CSa 2 and 52 percent of us got affected and moved to a lower band position.
@1ftt+1rvsnIO8 are you in Jax by chance? Sorry just curious. I heard about this very impact today thru a friend. I'm in ops for home loans service. This is so heartbreaking and I'm sorry to hear this happening. I know we all try to keep our head up and be grateful but it still su-ks. I really hope things get better sooner than later. ❤️ Sending you good vibes. Don't less this question your worth either.
I am a CSA II in a branch. Band 5, was notified effective tomorrow I will be in centralized sales (call center) Band 6. This creates a hardship for numerous reasons. I’m trying to be grateful, I still have a job. But I’m right back on the phones where I started 10 yrs ago.
Face the reality!
https://www.bloomberg.com/news/articles/2023-03-24/bank-of-america-trims-banking-lending-group-amid-industry-slump?srnd=premium&embedded-checkout=true
@ycs+1rvsnIO8 The Intel says half of the financial center CSA 2 across US will be transferred or lay off with immediate effects.
I know that the mortgage area just completed a reorganization, is that what you are referencing? Or are you asking if layoffs or reassignments are happening?
I could re-edit the original post, here is an article from Oct. 2023. But supposedly, any one in the mortgage business within the bank got the news. Some associates were immediately affected since last week. I am looking for confirmation of this from anyone who knows the detail.
https://finance.yahoo.com/news/bank-america-eliminate-4-200-mortgage-jobs-222658931--sector.html
That article is from 2014 not 2024