Thread regarding Bank of America layoffs

Morale is probably at an all time low

I can feel it in the air...teams are just so unmotivated and just doing it for

  • paycheck
  • till next job rolls around
  • till they get the package
  • till they retire

the horrible comp last year, the RTO strategy that nearly everyone is against (and clearly shows how many do not really care and dont even show up at all) all the management changes with no real change...the list goes on and on.

if this years comp is anything like last year and if we are hit with another covid wave to to waning immunity and their RTO policy....it might be the nail in coffin and this place will turn into well fargo...

by Anonymous
| 1545 views | | 8 replies (last October 9, 2021) | Reply
Post ID: @OP+1dcoUqp2
Comment! It's anonymous!

8 replies (most recent on top)

HR is struggling to find talent because of the antiquated hiring process amongst other things. Middle managers have decision paralysis and nobody wants to take on more responsibility for a pittance of a raise.

When you have high performers get shafted for roles because they want 5+ years of experience in a role because they think length of time equates to proficiency, people aren't going to stay. High performers exceed the normal trajectory and will jump ship to be compensated for their value. "Just be patient and we'll put a plan together to get you more visibility with senior leaders." Nope, sorry not sorry

by Anonymous
| | Reply
Post ID: @2ins+1dcoUqp2

Internal conversations within leadership mentioned that there’s a large attrition rate at the bank (no sh-t), and that HR is struggling to find talent. They’re suggesting that India isn’t suffering from the current hot market here at the US and for managers to consider hiring folks from there. Plus is cheap labor.

by Anonymous
| | Reply
Post ID: @1frn+1dcoUqp2

I have noticed an uptick in activity to fill roles. Email blasts to "refer a friend", lunch and learns to educate "day in the life" and "opportunities to join the exciting group"...it's rather amusing how much heat the leadership is putting on middle management. And these middle managers jump at the opportunity for "exposure" and "visibility".

I used to think something was wrong with me for not jumping at every chance to get visibility, but I've realized I just didn't drink the kool aid. My slow growth was my own fault for staying so long.

by Anonymous
| | Reply
Post ID: @1fyz+1dcoUqp2

@cua+1dcoUqp2 Plus WF will adopt the hybrid model once they're back in the office

by Anonymous
| | Reply
Post ID: @vns+1dcoUqp2

If by "turning into Wells Fargo" you mean "letting some employees work from home", then I hope they do. WF's been doing that since even before covid.

by Anonymous
| | Reply
Post ID: @cua+1dcoUqp2

What do any of you expect? I mean, seriously.

by Anonymous
| | Reply
Post ID: @psu+1dcoUqp2

half of my group left already. the rest are mentally checked out.
it was a very solid team...it's been a painful slow death.

I pray i am out of here soon

by Anonymous
| | Reply
Post ID: @qqb+1dcoUqp2

Totally agree... I see it as well. Some left over the summer and the many still working here are mentally checked out. When the RTO policy was announced, it just sucked the wind out of many people's sails.

The Bank is struggling to backfill roles... offering $2k referral bonuses which I haven't seen in many years here. I see BofA job postings all over every external job website now.

Does leadership not get it or do they just not care?

by Anonymous
| | Reply
Post ID: @yvu+1dcoUqp2

Post a reply

: