Everyone here only mentions larger cuts. However, I know a few people who were quietly laid off so it went totally unnoticed. The bank takes care so that no one talks much about these quiet cuts.
If someone were to analyze how many people have been gotten rid of in a very ugly way in the last two years, apart from the official, bigger cuts, I think that number would be astonishing.
@qqo+1g98pRgr - You’re correct. I and a handful of other B4 and B5’s were quietly let go several years ago during our layoff round. I was a B4 and had just hit the 25 yr mark but I was also quietly praying that I would get packaged out. The severance was phenomenal, I felt that BAC was fair and generous. I also started working for regional financial firm with only 400 employees several months after the layoff. I’m still in this ‘new’ job and I absolutely love it. I do have a hybrid schedule but it’s 3 days remote, two in the office. I can pick and choose what days I come in with no notice. And my office is 8 minutes away from my house. Oh… no weekend or overtime required and I typically sit in 3 meetings a week as opposed to the 5 or more meetings per day, I used to sit in on with BAC. I love it!
There been “ quietly” getting rid of the talented for years in order to keep less paid, less knowledgeable and the kool aid drinkers.
Yes. It's called a political hit job. Target someone they find unfavorable or a threat - age, race discrimination, highest paid performers, etc. In one case, lost very top performer w/ excellent creds, now works for competitor. Had long track record in corp Treasury sales. Easily found her a home within bank elsewhere where her sales talents could have shined. Huge loss for bank and completely bone-headed move by senior managers.
Wish they would get rid of Dittya. He socks.
Which LOB?
You’re not wrong, but everyone I knew in that situation had 20+ years tenure with the bank so they received generous severance (72 weeks). If someone offered that to me I’d take it in a heartbeat