All, I am a former Fleet Bank and BOA employee and still stay in touch with former BOA and Fleet employees - most who are now direct reports to Brian. I spoke to a former BOA boss last week - this guy is now a MAnaging Director and reports to Brian. He told me that BOA has no immediate plans to do layoffs in 2021. Instead, they are not backfilling jobs when someone leaves. Thought I would pass this information along, so you can relax for now...
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They've already started. At least for those rated as poor performers (and dyes, they were actually c-ap at their jobs). Move 'em out and spread the work around to those remaining. No plans to back fill the roles. :-(
This is not true at all. Layoffs are coming
Right, they just reduced everyone’s bonuses, minus those at the top, instead of layoffs. If you have a voice at the top, might wanna let them know people are sick and tired of this bs and will be working a lot less since clearly hard work is not valued at the top.
i have already seen people who left, and their jobs are not being backfilled.
I have noticed lots of good employees are leaving so that the only ones left any more are the old people just clock watching until retirement and the incompetent D&I workers that managers are too afraid to fire.
Nobody whose a MD reports to the CEO at BofA. This is clearly fake news.
Did your BFF Brian happen to share his bonus and pay increase numbers?
Big news..,not, that has always been the policy, until they don’t make numbers
No one with the title Managing Director reports to Brian. I'm calling BS.
Just as reliable as 'making B of A a great place to work' lip service, yet continuing to have RIFs every 6 months. Get under the wrong useless MD and you are screwed. The article from the other day where they were changing the stock vesting programs (so they don't vest gradually over time but leave you waiting for years before eligibility) is more their style. That way they can cut cash bonuses, give you all stock, and then lay you off (so you never actually get the stock). That is how 'great' of a place it is to work.