Have you heard anything about potential Bank of America layoffs? Any chatter, news or rumors?
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Reply: Post ID: @cdun+1qk5YPTP
What LOB are you currently in?
And did they say what LOB you will get redeployed to?
time to update your resume and look for new opportunities outside the bank
I was informed yesterday of being redeployed to another dept in next 2 weeks in Jax. I’m sure more is coming
Honestly, it depends on if the Bank Term Funding Program (QE whatever number it's up to now) actually gets shut off in March...
Look at this chart. LOL
https://fred.stlouisfed.org/series/H41RESPPALDKNWW
Back in the day, companies offered severance (they aren’t required to) in exchange for employees signing away their right to badmouth the company. I vaguely heard something about laws recently having been changed and that employers could no longer demand silence in exchange for severance.
If that’s the case, I’m curious if more and more employers will stop paying severance if there is no longer any benefit to them. Thoughts?
Before BOA lay off any employee they will make a toxic environment that will make the employee to leave on their own. This is their latest strategy. Then no need to pay any for layoff.
Best thing that will happen to your career is getting laid off from this sh-t company.
Clearly who ever wrote 25k doesn't work for BOFA. BOA would not pay severance and unemployment to $25k people and 25k would leave on their. BOFA will keep playing the long game. When people leave or retire don't back fill positions. Sure there will be one off transfers but no wholesale changes. Also when they do hire it will be college kids to keep salary low. Plus let's not forget raises will remain low or non existent as well as bonuses.
I find this post difficult to believe.
There are some transfers taking place due reorganization. A Few SVPs resigned mean layed off.
@8fcf+1qk5YPTP - great! I'll gladly submit my name to save anyone's place who needs th paycheck.
Where do I sign up?
No need to panic, but Bank of America is planning to layoff up to 25k people Q1 of 2024. (according to trusted sources)
Well if it does occur, I would assume the middle management folks ready for retirement would be the first to go. Seems stupid to layoff those who actually know how to work these computer systems….
Wait a few weeks. Those people not RTO at least 3 days a week are going “with cause”. No severance.
I've not heard any news about severances. I know people are being quietly and gently shoved out of the company in the last several months or so.
Reduction quota will be easily met with the paltry year-end payout.
Layoffs not needed, although the wait list is longer every year.
Zip zero nada.