Thread regarding Bank of America layoffs

People are waking up and getting angry at how they’re being treated by corporations/government/billionaires.

Working full time and not being able to afford food or to buy a home, is INSANITY. How much more do they think we can all take?

I’m ready to start marching and protesting.

BAC went with $100K because it sells. "We're not about those making more than that. We're for the little people." Never mind that there is a gigantic difference between someone make $110K vs $250K. Didn't the announcement also say that 97% would be affected? There's the answer. Brian and goon squad feels that would retain enough people.

What was it Brian got? @33% raise this part year? 7+ million?

Dear management, you may not realize it, but lots of folks at the low end of that spectrum are getting ki---d by inflation. You're not doing anything to retain them. So that group you love to p-e and sh!t gets more and more upset. How is it that we were so valuable before and are being left out to dry? Let me answer ... you're clueless and don't care. One cog is the same as any other. Wait till most people of value take off.

@2rca+1gN0l9Bt - it's not about us - it never is.

Announcement is pure pandering to the media.

They couldn't care less about us. Just their precious shareholders and their own perks and deep pockets.

People making 100-104k already know anyone who currently makes between 97-99k currently gets way more benefits (childcare, insurance and a CEO that gots a hard on (bo--r)for them) and overall compensation than 100 to 104k imployees...

Once you get to 100k they should give you at least 10k more in salary to get to where you were the minute b4 you went a dollar over $100k

What d-mbf--k thought hey this is a great idea? Let's broadcast to the company that anyone making 100-104k will probably be making less than anyone who currently makes between 97-100K come June.

Employees making over $100k dropping like flies...heard of 3 on floor since botched email...

Considering how quickly they decided to do 2 days/week WFH and increase salaries, they must be even more desperate than we think. Usually it takes years for the bank to get anything done.

F them. F him. Even with the sabbatical FINALLY extended beyond GBAM, look how many employees they cut out. Oh yeah, I’m also just over 100 so screwed.

I want to see who gets 7%. At what level of service. It’s still not worth it with rto. I want to see a hybrid schedule

Also 100k is not the same in every state and it’s always so frustrating when they implement something across the board like it’s a one-size-fits-all solution. There is a big difference in how far 100k gets you if you live in states like CA and NY vs. states like KY or WV.

The id--t that thinks the vaccine prevents the spread of Covid should really learn science. The constant stupidity of the far right is mind numbing. It reduces the symptoms you myopic dolt. Yes we can all get Covid but the chances of dying or long term issues is greatly increased with the non vaccinated. Which is fine with me. We need to thin this herd.

Having trouble sleeping w this pisssing me off so much...never thought about really quitting until now..

This just goes to show how out of touch bofa is - excluding people making over 100k as if that’s a lot of money by today’s standards.

They are awful. Hope everyone leaves or unionizes.

I WISH they'd lay me off - but with so many leaving on their own, there is little reason for mngt to bear the severance expense.

And around the corner the employee survey. Then the results of the survey. Then layoffs.
Then you can work harder with less people. And they will tell you, yiu just got a pay increase, why are you complaining? Then when it comes time for merit increase, good luck.

1ijk+1gN0l9Bt - does not include any benefits (you receive, just the straight cash portion (salary and +any cash portion of bonus)

Health insurance, 401k match, etc do not count for this.

They going to fire us to rto after f-kcing over all employees over 100k....should be a compensation up to 200 to 250k....

I love 18 month severance mention but I think they max you at 60 weeks..once I hit 20 years w firm put me out of my misery w 60 week severance please...

Was this announcement why they postponed releasing this year's survey? Do they really think this is going to change people's opinions about the work environment? Bottom line people want flexibility and a fair wage. 7% doesn't even begin to touch how underpaid tenured associates are. This changes nothing.

More people will leave with this announcement. A very small percentage of people will get the 7%.

Is total compensation just the salary plus bonuses or does it include health benefits and retirement?

Not happy about it. Thankful that I make over $100,000, but we are always getting screwed. Praying for an 18 month severance!!!

I’m looking outside too after a decade here. After going back to CA office, lots of workers got COVID and they are vaccinated.

I make just above the cutoff, but drowning under an ever-increasing workload. Complete slap in the face.

Got to think this is upper management trying to get middle managers and people over 100k just to quit...This just pi---d off 50% the employees in the organization...does BM think making over 100k makes me rich? Dude makes 30 million plus and is so out of touch...we need new leadership...sm--k in the dammn face for sure!

20% increase when I left BofA.

What about me? This was not pushed out as cost of living but is obviously cost of living initiated.

He’s completely out of touch with how the bank is being run, seems like maybe he has alzheimer's or dementia or just grossly over paid because obviously he doesn't know how the Bank is actively treating/paying the employees! Like for instance take me exceeds/meets 2%, me burnt-out following year meets/meets 2.5%! Why did i get paid more to produce less?
Also i just took a new position that was pushed out till 6/13 start, it was only 9% more and said that was the most they start at which was only 2% more then orig. offer, so if they force me to take the 4-7% at this job then moving over ill be making 2-5% less then the current starting pay. The right thing would be to defer my raise till the new job otherwise I'm back to being underpaid n I've been here 10yrs!

@mfj+1gN0l9Bt - the $100k limit is based on "cash received" (e.g. cash salary, cash bonus) -- not the employer 401k match.

This little increase is nothing with the inflation we are experiencing now in this economy. The leadership in this damn company should be ashamed of sending this shlitty increase out today. I don't care anymore about this place and will continue to do less until I leave. Fcuk you CEO BM and your cronies.

It’s hilarious that the day after the AHC when the dinosaur with the tie on answered the question about a cost of living increase he flat out said No. And adamantly stated the bank has never done it that way we get increase based on merit that’s how we do it. End of discussion.

I am not rto ing at 105k..slap in the face..lost 12k last year for childcare benefits...5k to commute...they can eat a big d!ck...lets turn half of the employees against each other (covid vs non covid and now 100k under vs over)...hr is horrible for sending out the company email...

Another slap in the face.

Is annual total comp including bank contributions like 401k? If that is the case that is B &/$!

@azz+1gN0l9Bt - yea, for those who make over $100k but aren't a banker or a c-level executive, we don't experience inflation.

We're so busy working our azz*s off covering for those who were smart enough to leave already or retire.

P*sses me off. Oh! and that sabbatical -- if it's modeled on the GBAM pilot, it will be IN your milestone year. I crossed 25 years 2 yrs ago during pandemic, so now I'm supposed to hang around 3 more years for them to just take it away?

Stupid azz place.

what about the mid level employees? We always get screwed.

Bank going in the right direction for once. The sabbatical option, I wonder how that will work?

So happy that gold award I got that made my compensation exceed 100k by $101. This has increased my health Insurance and also cost me a 3-7% raise.

https://www.bloomberg.com/news/articles/2022-01-26/bank-of-america-increases-base-pay-to-reward-top-tier-bankers

Top tiers already rewarded in Jan

right, it is never a full win with this place. just make it company wide or under a ridiculous number. bump the morale, stop the fine print. So the earlier RSU should be fine for the rest? Nobody is staying here for 4 more years for those nickels and dimes. He-l even when you get past the pay and RTO you have to deal with the day to day bs and just is not worth it. Bye Felicia!

Meh. Still waiting on that hybrid/flexibility email. Otherwise this changes nothing.