Any truth to it?
62 replies (most recent on top)
@dahh+1vo6g4Wc - yup. If you are off the payroll before Dec. 31, they don't have to pay you any bonus.
They are very cute.
Meanwhile, HR sleeps....
BofA typically does layoffs this time of year. Nothing like getting that month off around the holidays.
Lay offs happened and people are worried as we are about to enter Christmas. It's a valid question to be worried if it could happen again. people were let go across multiple departments and many have been here for 20-30 years.
Maybe those people were laid off because they aren't needed. Ge-z, all the people on the b*tch n moan over and over about layoffs this layoffs that, get real. It ain't happening.
Any layoffs before holidays? Or is it bloodbath in Jan?
Global Financial Crimes used to be called Global Financial Crimes Compliance and when the removed 'compliance' from the name me and my MD were laughing about it for like a month....just wow
All I know is that my #1 priority for 2025 is to put this place behind me. If they want to give me some severance in the process, all the better. But I will hate myself if I am still putting up with this unorganized and arrogant mess 12 months from now.
"I have been in this Layoff forum since 2020 and this is the first time mass layoffs have happened at BoA. So now I guess we can finally talk about layoffs and not about everything else wrong with BoA."
No, we should still talk about all of it
But about the layoffs...any word on what the packages were like? Standard severance? The couple of people from our area each had only about 2 years with the bank. So, that wasn't surprising as it cost the bank very little in severance, if any. Also, they were completely useless.
I have been in this Layoff forum since 2020 and this is the first time mass layoffs have happened at BoA. So now I guess we can finally talk about layoffs and not about everything else wrong with BoA.
@bhvv+1vo6g4Wc - I always laugh when I see that group's name. :-D
Great team, but the fact that any Bank has a division called "Global Financial Crimes" is hilarious.
(I'd love to be in Global Financial Crimes - oh my, the moolah to be made!!)
Seriously, the need to re-brand to ANTI Global Financial Crimes.
How has no regulator (those d-mba$$e$ who are all over us for volumes of meaningless paperwork) not called Greener out on this?
A-sleep.at.the.wheel. Words matter, mo-rons. Yea, let's all get up every morning and do some real Global Financial Crimes. #Winning!
I would like to know if the majority were working from home.....
no reason, no details given, people with good performances and zero issues...
Rumors about rumors happen every week. It's a way of life.
Anyone one hear anything about global financial crimes?
@9iyl+1vo6g4Wc - don't even need to contact "the media". Anyone with a story to tell, post on YouTube or even TikTok. Thr media watch and will come to you.
very sorry for what is happening. Just know it's Them, not you.
You will land in a better place in the end.
Layoffs on the tech side coming to the UK
Since they forced the people who were part of the layoff last week to sign or it will go in effect anyway the arbitration agreement (ie-can’t say no to it) just a few days before, would this mean there WAS something in common for the people who were laid off that would justify a class action lawsuit and negative press? Cause most of the time a layoff is just a layoff, who sues? But in this case that forced agreement raises suspicion and the very act of them forcing this agreement just a few days before this happened justifies a lawsuit in itself and oooooodles of bad press. Think about it: “Bank lays off 70 people during holidays, but not before taking away their rights first to make sure they and their families suffer more financial hardship….” If you were laid off, contact the media. You have a story to tell….
@8sxx+1vo6g4Wc - mostly right... completely agree GHR work for the Bank and the Leadership Teams (never the employee).
But managers saying they "had no input" -- they are lying.
I've been at B4,B3 and now B2 manager. We have to "force rank" our teams.
My strategy is to rank most productive/valuable (I actually value DRs who present an opposing or alternate view, but I am a rare bird around here.)
Most of my peers value LOYALTY. And will stupidly rank their favorite bootlickers who only espouse flattery (doesn't matter if it's fake) over juniors who are stars or display star potential. Many managers -- who were promoted based on bootlicking and flattery and know in their heart that they are grossly incompetent -- are threatened by upcoming and potential stars.
As a long-time Employee, Manager and Shareholder, this ki!!s me.
GHR and Corporate Governance are a pathetic joke. They see the good [bought] PR, write a blank check to the Leadership team [applause, applause], and don't give a rat's a$$. Just keep the checks coming and paying those dividends.
And all the rest of us suffer.
There is the sad truth.
BofA was very cute with the Nov 14 layoffs. Just a tiny trim here and there across divisions and markets so as not to cross the wire on any WARN requirements in any jurisdiction.
Why the "randomness" you ask?
If they do a tiny haircut here and there, they avoid the regulatory and government disclosure requirements.
Which the media watch.
Bad press avoided.
(Yes, they are that sick. And @8dgb+1vo6g4Wc is spot on. This Old Timer would gleefully trample many long-standing friends and colleagues to be first on the list for severance. Just tell me where to sign up and I will enthusiastically step into the breach to save anyone's seat who needs the job. He--, at this point, I'd even pay to be on that list.)
Last week we lost one person from our extended team. probably it was a sudden decision for that person.
How about the bank spend more time on real work than PPT reporting to SLT ! These reports take 2 weeks to put together and are used for a few meetings, every month the cycle restarts! Waste of talent and resources !
B of A like any other company looks to save face at every turn! I like the idea of severance- many would sign up …. Especially the old timers! Try to be positive after the venting- there are many jobs out there especially if you want to contract! B of A is a solid company but to get on fast track to move up you need a manager that is a leader and willing to assist you! Unfortunately, that is tough to get - as these paths are frought with nepotism and the old boys/girls club mentality! Too much game playing and positioning and phoney cheerleading rah rah BS over there. B of A needs better transparency and more substantive pass through of information on direction of the various company initiatives from a corp- dept. - function/ role - employee path ! Less BS on fu--ing DEI cr-p!
B of A laid off 70 people… basically, employee has 1 month to find another position at bank , then severance kicks in . So , it forces a mobility to other areas who are hiring! No rhyme or reason the selection process and mgt avoids that question and states it was an HR decision! Maybe if the bank wasn’t spending $90M on ServiceNow Application they could keep people ! In tgat budget alone there is a line item for $10M in travel on that project ! Fact! Justin Sifferman is an a-s clown from Wells Fargo who sold the bank on this app. Sone thought he would move up and report to Aditya , thank goodness it was Craig Froelich instead of the a-s hat JS.
B of A is laying off … no rhyme or reason on why some were selected… close friend laid off and this person was a rock star… already has an by offer in another group at B of A. But not performance based per manager … no reason given …. Manager explained tgat they had no input which is BS… could be an underlying personality issue ir could it be tgat the person they let go was already looking internally at the bank …. Which would be illegal as a retaliatory move…. Just remember people - HR does not work for you / bank employee they work for the bank to mitigate risk for the bank ! Essentially, don’t trust HR ! If they want you to sign something- do your research! It most likely benefits them not you!
Laid off with severance pay option if I don’t find another position by a month only reason was budget cuts and downsizing how I was picked I’m not sure I was meeting all goals as well
Two in GBAM yesterday. Both well qualified and, useful!
Any idea on whether the layoffs are going to continue next week? Or is it going to over for awhile?
Anyone know if there was a reason given to those that were laid off?
Can I volunteer to get that severance. I actually just got a new job offer somewhere else
Two in GT yesterday.
Layoffs across the board. My team had 10ish. No rhyme or reason to the people.
Is it still happening today?
One of my teammates got laid off from GT. I also heard from another teammate that someone else got laid off as well, but I'm not sure which group they were in.
Laid off today from GT …
Yes they are happening, one person on my team in GT got laid off
It’s true…layoffs are happening even after upper management said there weren’t going to be any. So sad.
It's true and I hope it's over. It's sad to see this happen to my work family and I'm scared to login tomorrow. I WFH.
Truth laid off with severance pay after 10 years with the bank a lot of my coworkers as well I think because we had accommodations to work from home :(
All true I was laid off after 18 years of service today
I watched two people leave Jax today after being laid off, and I'm unsure how many were let go from Simi Valley but they were from SCRA from what I've heard.
RE: @1ugw+1vo6g4Wc
Finally indeed!