I think the management is intentionally creating circumstances that will force people to quit. Attrition is great for them. They're reducing the overhead while incurring no cost whatsoever. I'm willing to bet they're fully aware of how many people are looking to leave but instead of being worried over losing talent, they're only encouraging the exodus.
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It doesn't matter to them if you're a top performer or just someone who shows up to breathe. If they can get you to quit, that's one more layoff for whom they don't have to pay severance, thus reducing operating expense without additional cost. There will always be someone to fill the spot later if needed, regardless of skill. Their performance may be substandard, but it will get done, even if poorly. And B of A has always been ok with that.
Business is an infinite game, there is no ending, and there are no winners of business; however, the leaders all play a finite game with arbitrary rules being made up as the game progresses all within made up boundaries and measurements.
It's all meaningless and has no purpose. Stop acting with a shocked Pikachu face and mock outrage that complaining will move the needle. The blue whale will continue to swim and live on for millenia to come.
We've had several seasoned veterans recently left the company. BAC is an emotionless, unsympathetic and resorts to hiring "talented" people from offshore, non-US citizens to replace the departed ones. For a short time, they'll be elevated to higher positons with the power to hire more of their own people.
yes, bofa is always short term strategy for executives to stay we saved X$s this year.
it's a YoY squeeze rather than focus on real strategic roadmaps.
very short sighted indeed.
@enh+1d2RczoJ I agree with the portion of your statement when it comes to incurred cost, however, not everyone laid off is “dead weight”. I’ve seen many knowledgeable, hard working employees forced out in recent years who are over 50 and don’t meet the diversity and inclusion qualifications.
It comes at a long term cost which is why BAC is so short sighted.
When you lay people off, you incur an up front cost but you shed the dead weight
When you rely on attrition, you lose the good people and the subject matter expertise that is very expensive to create.