New "Simplify and Improve" victims fell today... About 20 folks got RIF-ed today - mostly tech, some ops in Cathy Bessant's group. You may want to buy some BAC stock as if they continue to cut this way, the expenses will go way down - there will be profits to be made (on the back of long term employees)
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No more techs sitting in data center waiting for modules to go faulty ... All automated and software driven.. ALL OF DTS will be removed.. Did they remove the Touchpoint routers as of yet in the Teleport Data center ....
Should include the Merrill Tech side as well. That's where the biggest waste lies. Duplication everywhere as attempts to replace legacy systems with the failed Q that just doesn't cut it, is forcing the legacy systems to continue to operate!
They did not make ALL contractors take furloughs, only some. Same as last year.
Forced furlough for contractors only. How about furloughs for the CEO and upper management. That'll help the bottom line for sure.
When is the 2 wk furlough?
They just made all contractors take a 2 week furlough to save money
Bank is definitely reducing expenses by cutting down jobs but here the quality of work is also down.
I was working for bank for almost 3 years & recently resigned. What I can say certainly is that BOA is not good place to work. A lot of politics & meetings.
Stock closed UP $.17 a share.