I have heard about June Layoffs? Any other info out there?
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Next week someone will ask about July layoff rumors just to stir the pot.
Redeployments going on right now.
no mass layoffs but also it seems like no firing either? i.e. no terminated with cause? they're generally afraid of lawsuits and then the WFH rules put them in a position to be exposed to those if they do terminate with cause?
Will not just be your team. The bank will be keeping teams lean. The more with less motto has never been so true. 2024 and 25 will be very tight. People who have jobs better hold onto them. The new BOA mindset is no mass layoffs. The bank has no interest in paying a 20 year employee 18 months of severance plus unemployment. The bank would rather work you to the ground than lay u off.
The hint? We asked our leader exec : when is our department going to post jobs for positions that are vacant. Basically the answer was no time soon = responsible growth. They added “in fact, it will be the exact opposite”. What does that mean to you!? I read between the lines.
True story!?
Post from TheLayoff.com
This is exactly what they did to our entire team that had been profitable for about a decade. Next thing we know, we are part of Consumer Retail, with recorded phone calls, conversation audits, computer screen shot captures, phone script mandates, monthly quotas, micro-management, and near continual harassment and discrimination to make you quit. The even were so bold as to split our team into age groups. So yeah, it is true. They hide these changes under the guise of "reorganization". They basically took a team of MBA experienced bankers and turned them into telemarketers.
Wish the last comment wasn’t true but it is. there are people using mouse movers not worried about anything while others are fighting to keep a job. I agree there are no layoffs in sight.
They transfer people to dead end roles like the call center, that they absolutely hate. You will quit eventually. Or, If you manage to stick it out thru the micromanaging, the calls, the performance goals, the screens recorded at all times, the quality reviews etc.. you still have performance goals to meet. Your are now on a month by month employment, you pass your goals you get to keep your job another month. You don’t, you get written up and then they fire you on the third. They don’t need to lay anyone off.
We were told to enjoy the summer vacations. My guess is after that. Sometime in the fall.
BOA attrition options.
- You don't hit goal fired.
- You are top performer and you leave to chase the money. Yes BOA will not fight to keep you.
- You retire.
- Your department re-orgs and they put you in a sh-t job too get you too quit.
- On very rare occurrence you get laid off but would be one off. No mass layoffs. BOA does 't want severance and unemployment hit.
You are being kind to Ken Lewis. BAC closed at 12.17 on Dec 31, 2009 when he retired. Remember the Countryside debacle and ensuing billions lost in litigation.
BSG ? Maybe "BS" Group? Somebody here is full of BS.
Ok I will bite what does BSG stand for. I am sure it is something made up. Clearly nobody is going anywhere.
We just heard that an entire LOB was placed on 30 day job search for layoff today. I believe the LOB was BSG
Alex I'll take severance package for 150k please.
LMAO. He-l I wish they would give me a good severance package. I have been with this Bank of Moynihan for over 20yrs and he has done more damage than good in my opinion. He and his minions wouldn't be getting their bonuses if it wasn't for us employees that ACTUALLY DO THE WORK so for him to not to care about us employees is really absurd.
Correct me if I am wrong but before he came on board our stick prices were well.over than what they currently been. I know Ken Lewis had his faults but I do not recall seeing our stocks before 50 during his time.
I don’t know who in the he-l they’re going to layoff and still keep the place going? The change over to a new credit platform has most departments struggling now to deliver the most basic of credit needs, can hardly find anyone willing to help anymore that knows how to, territory assignments widened to the point of impossible expectations. Seriously, it’s a complete mess, and I don’t know a single person who wouldn’t jump ship immediately if they could, despite the grass never green across the street. Maybe spend less on this insane patent race with Capital One and a little more on lever pullers!
"With severance? Please pick me."
Get in line...a very looooooooooooong line. If they asked for volunteers, like they did back around 2010 I believe, there would be almost no one left
Happy Wednesday
Yes, they will absolutely transfer you to a dead-end job to force you to quit. They will require you to train your younger replacement. Your new manager will be either Frat Boy Biff or Suzie No IQ. He or she will be ten years younger and have zero experience. The new job has longer hours (nights and weekends), lots of cold calls, unreachable sales quotas, lower sales incentives, recorded phone calls and computer screen audits, and scripted message enforcement. Harassment, intimidation, and humiliation will be your new buzz words. I wish it weren't true, but it is all too true.
With severance? Please pick me.
What was the little HINT you got from an exec last week?
Clearly even if there are layoffs it will effect a very small number of people. If it was alot it would be all over the internet. Plus the fact anybody with long tenure the bank has no interest in giving them severance for a year.
They don't need layoffs, lucky charms head of the company and a non modern world work 'culture' has turned Bank of America into a sweat shop, so people who can leave, leave. Meaning the rest of the staff are getting more and more below average as the days and years pass.
Got a little “hint”’ from an executive last week.
What's that? Ah layoffs? Don't talk about layoffs? You kidding me ?.Layoffs? I just hope they can find a mothafocka to layoff from this shlithole bank...
What lines of business. Logical choice would be home loans and support.
They are doing both.
Agree they will transfer you to some dead-end job and hopecyou quit.
Doubt it. They are too cheap to pay the severance packages.
Have not heard anything about layoffs.