Unless we forget, at least 70 people were given their notice a few weeks ago and will be let go before Christmas. This is when the media is speaking highly of Bank of America making lots of money next year. When even BM is speaking highly of the horizons ahead. This layoff is still on the hush hush as non-managers in other areas/departments don't know about it and it comes as a surprise to them. In fact, these disgusting excuses for managers or HR people (are they even human beings anymore? Can we call them that? Do they deserve to be called human beings?) are raising high the seasonal spirit, celebrating and decorating and planning parties while they are letting these 70+ people go before Christmas like Ebenezer Scrooge on steroids. These 70+ people with families and bills forced to deal with this stress right before Thanksgiving and Christmas when the layoff was absolutely unnecessary. Just to make a few more bucks of profit for the next earnings call. It is disgusting to see these managers anymore on calls or in person. If you need to see why people on this board speak of the hypocrisy of the managers (from first level up to the top) at this place, you just need to witness this injustice as one example. They don't stand for anything and will go along with the injustice making them partners in it just to make themselves look like loyal toadies. Forget the micromanager or the lazy ones or the ones who stack tons of work on a few while letting their cherished ones get bigger raises and promotions. This is nothing compared to this layoff sitting beside their celebratory demeanor and mood these weeks. Let this be your warning, your example, your reasoning to NEVER trust this place when the managers themselves have lost their humanity. Don't TRUST them. They are not your friends or buddies. They will stab you in the back for a pat on their own back from higher ups in a moment's notice. Don't plan a career here anymore. Just use it as a spring board to iron out your resume and apply elsewhere as soon as you can. Don't get comfortable. Don't get lazy about seeking jobs elsewhere either. If the economy is turning around for banks that means others will be growing soon. BETTER ones. BETTER opportunities for you. These 70+ could be you...and your manager would be drinking their eggnog while you rush to make ends meet for the future.
10 replies (most recent on top)
@blueinmountains
hello fellow 11/14'er!
11/14 I was displaced, part of the 70+. I got a call to sign off, right out of the blue after hearing constantly how valuable I was. Oldest on my team, probably highest salary, WFH with valid medical exception, that was their target. All sorts of legal docs to sign to get severance.
I was let go recently after several years of unhappiness in my role (leadership, etc.), despite loving what I did. It was a blessing in disguise and I can't wait to see what's next. If you're this unhappy, it might be time to search for something that is a better fit. You won't regret it.
I think you have completely overinvested your emotions in this place. It sounds very unhealthy.
Honestly, it's just a job. I can think of 70 people off the top of my head that probably never should have been hired.
They let go FTE both at home and in office in my area and then I was told the contractors we do have their contracts were extended to April 2025
Re contractors, they have to be let go periodically lest they meet the definition of captive employee with all that entails on the employer's behalf. Some factor 6 mos off every 24 into their rate, others go to another gig. If they can.
Your comparison is incorrect Scrooge made Bob Cratchet work late on Christmas Eve and he was supposed to work on Christmas Day.
Curious, were the majority contractors or FTE? it's been a long standing practice to can the contractors in December. Bottom line is that BAC has a better tax outcome without contractors. However, the contractors are generally hired again in January. The agency they work for pays them very well, so most don't have any impact. Unfortunately some do.
Yep I got the boot a few weeks back. They didnt really mention it to my teammates or people I supported. In fact, few people contacted me asking if i left because i have a better job lined up. Good grief. Nope, my "position was eliminated."
On to better things! :-)