I heard that more layoffs in GT&O will follow. Does anyone have any details? I would like someone from GT&O who got laid off to comment on the present situation.
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Still, an official–looking quote without a source link. It’s nonsense without a source.
Correct. Bank of America’s GT&O (Global Technology Organization) and Merrill ly––h (Brokerage/Securities) have begun a series of ongoing headcount reductions, (layoffs) that began April 16, 2021 and will continue in 2021 to reduce excessive costs. The executive management team and employees did not think the pandemic situation would last through 2021. The bank has already prepared for it going into 2022 before offices can even begin to reopen with proper social distancing and “new normal” remodeling of property facilities not only in the USA, but worldwide. It simply comes down to costs. Associates working remote for an extended period of time cannot be cost justified at the same time millions of square feet of real estate bills keep mounting and facilities go unused. Unfortunately jobs are cut to keep Wall Street happy, the stock price up, prepare for additional loan loss reserve provisions as more people default on loan and credit card payments. Our opinion is the economy will get worse as more people become unemployed, the virus potentially surging again due to the lack of containment, new strains and the pressure to reopen the global economies which appears to be more important than stopping the spread of COVID–19. Sad, but true. Look at the 1918 Spanish Flu pandemic. It is a playbook of the situation we face now with COVID.
The agile s–t at bac is insane, what a cluster of an implementation
A coworker of mine was given the option of severance or transfer to a different job. He was due to retire in a month. He took severance.
Was it a surprise?
Anyone else laid off today?
I just got laid off today and I am in CRO.
Green grass in Albany NY
GT&O is probably letting go most of the people brought on for the platform change
I’m hearing the same thing, many projects to be defunded soon with potential for Agile teams getting laid off.