Bank of America has been quietly cutting tech staff.
https://www.efinancialcareers.com/news/bank-of-america-layoffs-technology-quants.
5 replies (most recent on top)
Maybe Aditya needs to be relocated to India to manage all the offshore workers. His favorite managers can go also to be close to the work. BofA can also save money by paying them in rupees at market rate in India.
Bank of Mumbai aka BOFA has been doing this for quite some time. They only hire family and friends and when a US resource leaves they hire another one of their own. It seems to be turning into a racist company and it's pretty obvious to most but upper management doesn't seem to care
Band 3's/4's always on the chopping block. A good position for money an pristige, the pristige usually carries them into new careers without much of an issue.
For every priceless band 3 there's about 4 useless ones. Remember this is big corp and phsycopaths slip through the cracks all the time
Aditya wants to change the company to Bank of India where teams of 10 offshore resources each report to one male Indian onshore resource recently promoted to Director or Managing Director even though never managing staff. This is happening all across GT. I used to feel sorry for other areas when you see it in corporate directory the mix and location and now I’m also included in the statistics.
That’s not a layoff. That’s where they cut a couple of middle managers. MD is usually a band 3 or 4 SVP.