Thread regarding Bank of America layoffs

Bank of America isnt the same bank now as it was in 2000s, under Hugh McColl and Ken Lewis. I worked at BOA for 12 years and was layed off in 2012 out of the blue

There are layoffs happening now in CAO. I know of a few today.

Layed off on Wednesday 5-19 been with bank 27 years, India makes less money per my boss. Bank of America is a joke, please change name, not America anymore.

Somehow the Kmart of banks has to recoup the FIVE MILLION dollars they paid John Kerry in 2020 for the “work” he did there. 100 layoffs will cover that based on HR criteria to reduce costs through RIFs.

I was laid off on Wednesday. I am still a full time employee through May 8, 2021. I don’t have to work though. Then I will get severance.

This is absolute BS !!!! I was laid off on the 7th ( 2 days ago ) and so was two other people that I know of.

There are layoffs that have started today, 04/21 - ‘walk out Wednesday’.

Feb was bloody in some areas. Some opted to "retire", while others found another role in a diff group and stayed.

Layoffs have started.

I have observed the bank regularly performing WFR's quarterly during the X+ years working here. In 2020 they did not have layoffs. You can bet that 2021 the bank will "catch-up" on the WRF's. Net expenses have increased so they have to be offset somehow.

Lol no way there are no layoffs in 2021

To qwhj+184HiLNO,
I wonder how you know this. Are you Brian Moynihan trolling this board?

No layoffs anticipated for 2021. New hiring will be scaled back a bit. Nothing to be concerned about. Jobs are safe.

Ehh..we'll be forced back into the office sitting by a bunch of Covid deniers who ditch their masks and ignore social distancing at every opportunity.

The attrition will take care of any layoff needs.

Yes. There will be layoffs in technology/servicing come the first of the year.

if you work in the payment processing/research/application on the home loans side, you’re probably safe for a while considering all the new platform issues with payments

Come February I bet there will be layoffs. Especially since they didn't in 2020 because of Covid

Leadership in my areas has already started being unresponsive to certain issues, probably hoping people get fed up and leave on their own

I would say no, they will likely get rid of people through attrition and reallocating WFH people. I see a hiring freeze, permanent closures, and downsizing markets and regions. That gives them the cost cut and lowers head count while not “laying anyone off” ... then factor back in performance management and now you have additional attrition to serve the new environment

No news or rumors but my guess January 2021. It's bad form to fire people at Christmas but it's frequently done. We were told no layoffs in 2020 so it's Katie bar the door in 2021.