Thread regarding Bank of America layoffs

one of the ways they are able to pay these higher salaries and incentives to the CEO and senior management is by squeezing commissions from the low level sales teams that generate the bank's income. recent example: got paid a yearly bonus for the last decade? oh, sorry, now you have to hit 5 sales buckets every month or quarter to earn the same - even if you hit your annual numbers like in past years. 1 in 10 will hit all 5 buckets every quarter in any given year, and so you get 25-40% annual turnover. older workers leave or get canned due to sales quota pressures and decreased pay, and so they can put a young college grad in the same role at half the pay and make them work nights and weekends. subtle form of age discrimination, but pays big bucks to the top tier senior managers. huge scam!

Ridiculous

At least you are still working! Many of us were laid off because we got too old (= over 50) or our jobs were sent to India...had both of those happen to me.

Good for him... mist be why our entire team received NO raise and we are all now working 10-14 hours a day and we are all salary. Glad we made him look good. He gets 15% and we got c-ap. Typical business plan for this place.

@rnb

Did u put that chump change to work?

Did you follow the trading advice provided here about the calls? So far they are up ~50% since the comment was made about a week ago.

A hell of a lot more than the chump change I got.