I know how things stand here now when it comes to layoffs: BofA is trying to get rid of those who are more expensive - in other words, those who have more skills, knowledge - while it mostly retains mediocrities.
Was that also the case 10 years ago or more, or was it different? Someone mentioned that in the past the management really tried to weed out the weakest performers.
Getting good results from a mediocre staff. Is that a definition of good management?
It's not just about being expensive.
Long-timer here, I'm damn expensive and cannot get laid off despite my many, many requests to my manager and HR.
They always say "no, not you."
I do a ton of work (apparently well) and have never been able to slack off like I see others do. (I've tried, but never lasts more than a few hours.)
BofA operates like the Lions and Reds of the banking world. Glorious times with great talent existed, but it was generations ago. They have a position of why go for top talent at top dollar when you can still exist by accepting adequate talent at bargain wages? There are flashes of brilliance now and then, but mostly they are fine with anyone who can get the job done, however mediocre, as long as they're cheap. That is Responsible Growth. Getting a job done well is just an extra benefit to the company until those workers leave for a better job. There is no loyalty to talent and tenure in that model.
Well Jack, the first halve of you comment makes factual sense but the second have then does the very thing you were commenting against. Just because a person does not like RTO and voices that feeling does not equate to them not working. That’s also A FACT. LOL
Just because an employee is "more expensive" doesn't mean that they "have more skills, knowledge". There are those who have been hanging on the coattails of their bosses/managers who favor them for doing nothing but suck up to them, retaining the less than mediocre workers, giving them undeserved promotions and significant raises and overtime have become more expensive. BofA realized this, finally and are getting rid of them. And the ones complaining about increse workload and RTO are the ones leftover mediocres who were doing next to nothing in the first place and whining about actually having to work for the more expensive pay they're getting.
10 years ago the stock was in the tank, lawsuits were draining coffers, and the bank was in complete disarray. They had a mess of old Fleet Bank credits that had gone bad, and the Great Recession was in full force. Major issues with Countrywide mortgages, etc. Back then, they still had layoffs to get rid of weaker employees and had laid off all their field Small Business Bankers. They needed really strong, skilled, hard working bankers to right-size the ship. Now that in recent years the bank has made somewhat of a comeback, they are ditching the same employees that saved them from failing a decade ago, the ones that actually knew how to manage day-to-day operations during a downturn.
Again, this company is azz backwards as it tries to get rid of more skilled workers who are slightly more expensive. They would rather keep d-mbazz, lazy, cheap mothrfukers . We have the d-mbest fuhking management in the world.