Fact: Bank of America Global Technology & Operations (GT&O) has cut 4000-5000 jobs in USA during April 2021. Most of the cuts were people well over 50 years old and many had 15 years or more of employment with the bank.
Reason: Pandemic cost controls required because nobody is in leased office space which the bank is still paying for. While no firm “return to office” date has been given, it looks like 2022 is most likely.
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That was last year. They've gotten their numbers. If there's layoffs this month or next or in the summer, the number will be much lower.
get real
That sounds so typical for this company. Empty office space gives two options. Force people back in to occupy the space you pay for, or save expense by ceasing the leases. Naturally, the choice is: force people back in.
Hey you. If anyone is going to believe the CEO in an interview from SEP 2021, they’re not living in reality.
CEO’s say things to calm the markets, keep the earnings up and especially the stock price. BofA executive management only cares about making huge profits and will get rid of FTE’s. As far as the cuts in all areas of technology, average annual salary estimates are $150,000. Add in overheads and benefits, that’s $300,000 per headcount. Nice job cutting $750,000,000 fat from the budget CEO.
“Those are your own facts. Try the news for some facts. September 2021, not 2022.
https://www.wsoctv.com/news/local/bank-america-ceo-touches-return-office-during-annual-meeting/PECVAUQFTZFT5JDTCCE4CRWXSM/
Yes, More than 15 people been laid off as I known from our line, Bofa let customer survey(VOICE) play a big part, it is pass or fail(heaven or he-l!!), score 9 or 10= passed, score 1~8= fail!!!
The numbers in that range seem high. BofA has over 210K FTEs and probably 10-12% work in IT. That department may have another 20% or so contractors and consultants plus people in India. They probably let contractors go, as project move from dev to live but 5000 FTE;s doesn't look right.
depends on the area, between 5% to 7% cut, affect mostly 50+, a few in the 40s.
The number of layoffs in Technology is closer to 1500-2900 according to insiders.
Hey OP, if you're bull$hit us with so called facts, please keep the number in a tighter range with percentage numbers within two decimal points. Throw in some puppies, kittens and crying children to get some emotional response from us. You don't want to look like a mooron man, up your game.
Those are your own facts. Try the news for some facts. September 2021, not 2022.
https://www.wsoctv.com/news/local/bank-america-ceo-touches-return-office-during-annual-meeting/PECVAUQFTZFT5JDTCCE4CRWXSM/