Thread regarding Bank of America layoffs

Bonus payouts

Are dropping, if you are not in an exceeds category, expect a drop. Apparently the attrition strategy is not over yet....reduce bonus payouts, eliminate the middle tranche of employees (high performers get sorta paid, low performers stay, middle of the road find jobs and leave).

Hybrid is coming, and will be announced Q1. Your regulatory classification (public or private) will weigh into that, time to get a job classified as public.

More trickle down changes, the independent areas that Cathy touted will eventually disappear....others are not as supportive and see it as an expense that can be eliminated.

BAC is struggling morale wise and they can't get out of their own way. If they could cancel Xmas they would

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Post ID: @OP+1dB5i2YF

7 replies (most recent on top)

Our friends at JP Morgan went hybrid. But CEO Jamie was a staunch supporter of RTO. People started leaving and he changed his ways hesitantly. Maybe Brian will follow. Remember the big ATM fee uproar?

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Post ID: @1lwe+1dB5i2YF

Stock tracking still 10/80/10 in consumer

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Post ID: @uds+1dB5i2YF

Your bonus is already decided. This was done last month.

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Post ID: @lme+1dB5i2YF

When stack ranking, what % of a team will be "allowed" to get an exceeds? Is it a 10 does not meet/80 meets/10 exceeds distribution?

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Post ID: @xaz+1dB5i2YF

Can you share more about hybrid? Where are you getting this info? What about on the commercial aide? Middle market and business banking? Morale couldn’t be lower.

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Post ID: @ejy+1dB5i2YF

I don't believe they will do hybrid. They already chocked on the "we're an office culture" vomit.
Maybe they're now selling it instead of giving it free...by hammering the bonuses.

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Post ID: @cuu+1dB5i2YF

Thank you for this, it is appreciated.

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Post ID: @yky+1dB5i2YF

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