Thread regarding Bank of America layoffs

Commercial Real Estate Revaluations

BM bragged that employees working hybrid schedules saves the bank about 20%
So that means he is aware that when we work from home, the bank is offloading the cost to employees.
Whether the employees are saving money on commutes, child care etc.
Employees are still paying wifi/internet & electricity costs of about 16 hours working time at home.
This is troubling considering the bank is notorious for 2-3% pay increases & stripped bonuses.

Everyone should request reimbursement for internet and put it in the annual survey.
At a minimum, they could negotiate with providers for preferred/employee rates.

https://fortune.com/2024/01/17/commercial-real-estate-outlook-revaluation-bank-of-america-sheds-40-million-square-feet-office/amp/

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| 1460 views | | 14 replies (last January 18, 2024) | Reply
Post ID: @OP+1qDSbLKs

14 replies (most recent on top)

Imagine the savings if he allowed WFH all 5 days
The point is right there, he almost got it

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Post ID: @tgv+1qDSbLKs

Once again people are fighting each other instead of "the man"
You can expect to be paid a salary compatible to your work experience while being reimbursed for work expenses.
Note: the "Performance" in Performance management
You can NOT claim to be a pay for performance company while eliminating a bonus structure
RSUs are forcing you to use bonus money to invest in stock for a company that could lose valuation.
Its comical and sad simultaneously

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Post ID: @ijd+1qDSbLKs

Don’t forget to request reimbursement for all the Charmin you use while working 16 hours at home.

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Post ID: @zum+1qDSbLKs

Of course you're going to have internet anyway. That's not the point. Company paid because it's a necessary work tool, no matter what else it is.

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Post ID: @bvl+1qDSbLKs

this headline is completely misleading - nothing to do with CRE, just internet.

Boooo.....!

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Post ID: @ixp+1qDSbLKs

With all due respect - I'll choose my SALARY as the hill to die on, not the bloody internet.

If I am going to wage a campaign, it will be for Work Location Flexibility (WFH!!!) and my PAY.

Internet is a sunk cost. You already have it so your kids won't hate you.

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Post ID: @lsy+1qDSbLKs

This is d-mb - you already have internet because you watch tv, sports and stream a bunch of stuff. (do you live in a cave???)

No idea why any company would subsidize internet for employees theses days unless those employers need a Perk to offer for people to work there or for employees paid below the federal poverty income level if they need to be reachable (odd, but whatev).

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Post ID: @vgu+1qDSbLKs

Stop it? There are many companies out there that offer reimbursement for work expenses
It's a line item- this company acts broke to its employees while bragging about record breaking profits in the press.
It's degrading

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Post ID: @gzz+1qDSbLKs

Stop it. You’ll have internet at home regardless if you work from home or not.

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Post ID: @uji+1qDSbLKs

Reply to Post ID: @zup+1qDSbLKs

What financial company is this? Asking for a friend lol

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Post ID: @szx+1qDSbLKs

Back when we had Blackberries, the bank paid for them. When MyWork came in, participants could order some office furniture and claim the cost of cable. Providing workers with tools is a normal thing.

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Post ID: @bfq+1qDSbLKs

It makes sense. The financial company my spouse works for gives a monthly stipend for internet. They also reimbursed employees who needed to purchase equipment when they were deployed to WFH, such as desks and computer chairs.

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Post ID: @zup+1qDSbLKs

You’re being absolutely ridiculous

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Post ID: @xyu+1qDSbLKs

And that’s the perfect way to lose the hybrid schedule.

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Post ID: @lja+1qDSbLKs

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