Thread regarding Bank of America layoffs

@281+1jqmh3rnr - to receive your full year-end bonus, you must be employed THRU Dec 31 of the earned year.

But most of us hold on by our fingernails until the deposit clears Feb. 15.

Just to be safe.

Oh! and don't give notice before Sept-Nov when managers are entering bonus figures into the GHR incentive system. He/she may give you a a haircut since there will no longer be any reason to incentivize you. (and blame it on economic downturn, expense pressures, lower pool, blah blah blah)

If you keep your last day as Jan 1 or 2, you should receive the payout. Good luck!

I'm B4 and getting close to the retirement zone and just beginning journey . IF you stay the full year and then retire, do they pay you your incentive the following February? Is that part of the arrangement? I am afraid of announcing too early as I'm over my head now with reports, workload, etc. and it probably will be grueling once I announce.

Sorry, but they won't try to keep you. (even if you've been told you are "valuable") Unless they consider you an underpaid/overproducing asset.

As @hv+1jqmh3rnr wisely notes, be ready to leave on your own terms before you declare your intent.

Too much pressure to get top level, long-timers (i.e. well paid) people off the books.

In my case (also B3), they rang every single drop of energy and deliverables out of me once I gave the required 60-day notice. it was exhausting.

then, they just moved the work over to some other B3, so 1 less headcount, no new hire needed. Win for them.

You can ask for some sort of flexibility, glidepath, etc. Just be prepared to be disappointed.

I sincerely hope it is different for you, and you end up pleasantly surprised. (if so, pls do share here!)

Timing is just not good with so much pressure on managers to reduce expenses any way they can.

I have thought the same. For me, my only chance for any form of package would be to quit, not retire, and see if they counter with some package to stay on accordingly. I would quit and take your personal and sick days to effectively give them no notice. I wish you luck and hope you share what happens.

I asked the original question. Thank a few of you for the informative replies. The others show this website is questionable. I didnt see anyone was hopeful the bank would offer or be creative in any planned-transition strategy, or use any progressive HR strategy, or 'guaranteed partial bonus", which of course I expect to be the case. Pretty sad really but real, so it's 100% self-interest, sadly our work world today (which enables websites like this). With the market/ tariff news today and coming shakeout, I'll hang for a week or two to sniff if any RIF is coming, then I'll be on my way.

Figured they would lock your network access at the beginning of the 60 days notice.

Once you give 60 day notice, you do actually need to remain in Good Standing to get your payout and benefits.

It's not like you can stop showing up.

That said, I did not bother to train any replacement.

With 200,000 people to fill in the slack, they can figure it out and doubt it would matter anyway.

B3 here -- was in this exact situation with 30+ years of E/E service. I even know the Head of GHR, am well liked at all levels, etc.

After asking to be put on "The List" each time there were real layoffs (like more than 1 or two here and there), only to be told "No, not you", then slacking off to not perform so well and moving to a less desirable "non hub" location, etc. etc. etc. blah blah blah.

Their strategy of just plain wearing me down with Bureaucracy and Administrative Process B.S. (truly sux to be a manager around here).

I gave in and tendered my 60-day notice before year end and got the F out!!!

Much happier.

Note: some RSUs (those part of your YE bonus) continue to be paid out each year per the schedule.

Others, like the b.s. Share Success cr-p, are pro-rated (1/48th of grant) per number of months you actually worked within the vesting period. They are so puny and the stock always goes down any way, I didn't leave much on the table and my sanity is worth far more.

Don't waste your loyalty and your life on this place like I did. You are more valuable than that. It's a paycheck, nothing more. If yours is a good paycheck, then stay. If not, then go someplace you will be paid what you are worth and are appreciated. Godspeed all.

I'm pleasantly surprised that you can take your RSUs when you retire. They changed the rules in my area and the only real option to keep them when you go is to be RIF'd, though if one slacks enough they might do a RIF instead of firing ... and of course you don't actually have to do anything after giving your 60 day notice.

My band 3 hardly shows up in office.

Many have tried to volunteer for a package (like me), not happening.

If you are in a critical path role and your manager and peers agree, negotiations are possible.

what you get may vary. Work reduction, sure. WFH no but more flex time. Getting your normal comp doing less work, No.

Stay on a 60 day clock since once they get the goods, your days are numbered, you will lose value and leverage.

I would be ready to go now, so if it does not go as planned, golf clubs ready and you do you until your exit day.

Simply put, die at your desk and flowers will be sent and before they arrive to your family's door, you've been replaced.

Good luck

Remote is unlikely but I would think that part time work would be an option. Usually this kind of thing would need to go up to a BAND 3 or higher for approval so I am surprised you haven't seen what the options are already.

Lot of haters here. If you’ve been with the bank for 20+ years and the wheels would virtually fall off if you left with minimal notice, they’ll probably cut you some sort of deal. Good luck.

As a band 3 I'm shocked you would think they would give a cr-p about you like this to begin with you could also be fired tomorrow and they would do just fine without you. No one is important at this company. You're a little worker ant.

Uh… they (we) really could care less if you walked out today and never returned. Your role wouldn’t be backfilled, the stuff would get done, albeit a poor job, and in 90 days no one would even remember your name. Truth hurts but you aren’t some cornerstone keeping things afloat here. It’s cute that you think you’re important lol.

Band 3 my a$$