Thread regarding Bank of America layoffs

Bank of America is a Great Place to Work If You Can Deal with Employment Uncertainty

Lawsuits, bankruptcies, merger battles, takeovers, and outright loss are what constitute daily life at the Bank of America. But this is absolutely nothing, what’s even worse is employment uncertainty. The company has absolutely no regard for its employees and that is something I know firsthand. I worked at Bank of America full-time (for more than 10 years) and was never valued.

The only reason I stayed and coped throughout those years was because the pay was good and I was provided good benefits, including paid time-off, pension, health insurance, and charitable contributions. I even got a chance to grow and develop in the company and polish on my marketing skills. However, I find that all useless now. Besides, how much can a person prove himself?

Judging by the number of years I worked in the company, I constantly had a fear of layoffs and reorganizations. Every employee had to face the REIGN OF TERROR about layoffs. Besides, who can blame them? Nobody likes being unemployed, especially if they have a family to provide for. Regardless, the reason why I’m so angry is that even after years of loyalty, the company decided to kick me out with 250 other workers.

Yes, it happened on February 11th, 2015. Bank of America stated that in order to reduce its portfolio of bad loans, it made a decision to lay off 250 employees from the Mortgage and Technology and Legacy Asset Servicing Department. I was, of course, on the list of employees being laid off by the company and without any discussion, I was told not to show up at work the next day.

I did feel incredibly hurt, but to keep my self-respect I didn't beg for them not to kick me out. At that moment, I realized how other employees felt when they were laid off. Additionally, I also learnt a valuable lesson: to never work for an organization that doesn't value its employees. So, unless you want to deal with uncertainty all your life, make sure the company you choose to work for really and truly values you.

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Post ID: @OP+ANRZJX4

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Welcome to the new corporate America. These are the decisions we make working for a large corporations. We find lots of benefits working for large companies like BofA. Steady work, pay, benefits, and growth. You can work for small companies and receive the same or less opportunity is very likely. There is no winning formula and we all take chances. BofA was a very stable company before the housing market exploded and crashed. Its sucks you worked for 10 years for BofA. You should have been pulled out of the bunch and given another opportunity within the bank. However, due to the size of the company (250,000 employees) its difficult for companies and much easier to treat employees like number to cut. I am not saying its impossible but right now its all about the numbers. BofA has a lot of valuable employees so how do you manage this and decide who stays and goes? Much easier to cut groups to avoid lawsuits versus decision based only on past reviews. Someone can say my review was written by a manager who hated me. I feel your pain and wish the best to those laid off.

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Post ID: @2oe3+ANRZJX4

You are absolutely right.. I understand your feelings. I hope and pray that you got a new job.

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Post ID: @1Rov+ANRZJX4

What location?

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Post ID: @Q0t+ANRZJX4

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