I was hired four months ago. I left a decent job for better pay and a chance of progression. Now I learned that Bank of America is known for laying off people who have been here less than a year. Is this true? How worried should I be? If I had known about this, I never would have quit my old job.
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worrying is for the birds, baby!! fu-k these losers, go in and smile everyday until they have something to say.
As a new hire, if you do not meet goals that have been set for you (e.g. production quotas) over several quarters or are viewed as not cutting it or ramping up quickly enough, those are the ones we get rid of within 1-2 years. (Why invest further when anyone can easily be replaced?)
Also, if you engage in any behavior that equates to "cause" (e.g. grabbing a female colleagues bo--s - yea, that's happened), you will be fired.
However, if you are good at what you do (which I am sure you are), then you do not need to worry, esp. if you are also well-liked.
Cross BOA off my list of companies to work for ...
They are known to target older workers by nitpicking them to death on their jobs. They also will raise your quota to unreachable targets. This company think they are slick but they are not. I have been told many times that if they like you they will keep you. If you are put on their shlit list they will find a way to get rid of you. I have seen them do this repeatedly through the years to other workers. The only thing I can say to prevent this is keeping record of every thing if you feel that are targeting you. If you feel you are being targeted go to HR and tell them you are going to file a complaint with the EEOC . I guarantee you the shlit will stop. I have seen other employees do this and are still here. This company has been sued for millions for past discrimination and they are known for it.
I guess it depends on the role. On our sales team, they went on a large hiring binge and hired tons of people all at once. Then, after a year, they did a pretty large round of layoffs to get rid of people that managers either didn't like or were not meeting sales quotas. So yeah, it has been known to happen. Years later, they deliberately targeted older workers to make them leave before finally ending their jobs. The place is ruthless, you have to always be on guard. Even if you are a model employee, they will still find a way to target you if you're not a part of the "in" crowd.
I hadn't heard that, but it kind of make sense (in a cruel way) from a business perspective.
If you make a mistake in hiring, it's best to admit it right away.
I'm assuming that's why they lay off (really terminate) people in the first year.
Is there another explanation?