Has there been any news?
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I do know layoffs in servicing will be happening after the first of the year.
October you can pretty much count on. What we were promised is no layoffs due to COVID. They didn’t promise no layoffs due to low production. Got rid of bonus and incentive plans in First Mortgage and HELOC. Will lose some people to other lenders because of that.
I believe BAC will honor promise of no layoffs in 2020 but I’m sure they will resume early 2021
I’m sure if they do lay people off they’ll say, well we didn’t expect this to last this long (while at same time asking people to come back to the office)
Weren’t we promised no layoffs in 2020??
October is the month of choice! Gets them out of paying any large bonuses and cleans out the fort before the new year! Here, here ....
I've heard something about October but the source is less than reliable so I have to check.