Wells Fargo had layoffs last week, BNY Mellon is laying off right now, so when will it be our turn again?
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@2lfp+1kJA8yIx You nailed it. New associates walk by my desk every day. The caliber has gone down hill. This company no longer has standards and will soon be full of immature and inexperienced employees with no work ethic.
I want the severance package. BOA sucks ba--s. Low pay and benefits are similar to other big corporations.
The mass & rapidly growing exodus that is now underway is the huge number of boomers retiring in the next 3 years. They will be taking 40 years of experience, critical knowledge, a respectful work ethic, maturity and devotion out the door with them. They have not planned for this. Good luck everyone.
Would like to hear how they define no "mass" layoffs. What number = not mass.
Have a plan folks. Dominoes often fall together or eventually. The market is the same for other banks as it is for this bank.
More tech layoffs coming for wells fargo next month
Here’s your answer- straight from the horses mouth..
https://www.yahoo.com/finance/news/bank-of-america-ceo-no-mass-layoff-announcements-161608280.html
I would take a package in nano second. Unfortunately I work in fraud and we are training people like there is no tommorow. So I can dream of a package I'll never see. May be I need to stick around another 18 months for my sabbatical.
So many people left. The company basically is half visa workers who are subpar at doing anything.
No one is jumping to get into BofA, but people are jumping out of BofA.
I agree we will not see large layoffs. Instead very low bonuses or no bonuses and no or low raises. This will push people on the edge too leave. Plus the important fact that if people leave on there own than no severance pay. This is the main goal lower head count while not paying severance and unemployment compensation.
Keyword “mass”
I don't trust that mutherfocka at all. Anybody that gives his employees a low azz cost of living raise and have them come back to work in a pandemic is not to be trust .
Headcount is already down. Bank of America is a different type of bank compared to Goldman or even Wells Fargo (which is more heavily into consumer mortgage and realigning themselves to catch up with everyone else). BoA CEO already said they will shift people around rather than do layoffs which is much more logical considering how some departments are understaffed and swamped from the Great Resignation while other departments will experience slowing in 2023. This way they can logically move people BACK to an area when it picks up again in a year or two without having to hire externally, train new people, and add cost to the bank for new salaries/onboarding. So external hires will be very down for 2023 from that situation. They will plug most holes internally.
Bank of America CEO: No mass layoff announcements are in the cards
If you trust the CEO's words... but trust needs to be earned.