any rumors for layoff?
19 replies (most recent on top)
In the last 3 weeks 1 AVP (FTE) and a Contractor show as DELETED in the address book, so…
I will make this simple for everybody. In the last 2 years the bank has gone from 218k employees to 212,800 and now a little over 208k. This has all been done with 0 layoffs. The bank knows the number they want to be at and also how to get there without paying a dime in severance and unemployment.
“There will be no layoffs” - would like to see how well this one ages lol.
It’s likely the economy will crash so badly in Q1-Q2 of next year that it will be worse than 1929.
BofA is investing $4 billion in AI next year. There will be no layoffs… BOFA is hiring contractors instead. They can get rid of them when they don’t need them.
yes what you heard about layoffs is true first round mostly contractors within two months followed by FTE by end of the year
'This "American" bank is obsessed with staffing up in the UK and in India and Asia. Don't worry, when all the jobs have been moved overseas they may start the layoffs."
they need to be prevented from using american resources
and give back the money they received from tax breaks and bailouts
the american people will of course charge interest
Still waiting (hoping for my package). Where do I sign...?
Only reason I check this site...
Already learned no reason to go above and beyond. Doesn't matter. Get paid the same paltry salary and yearend RSUs. (gee thanks for complicating my tax filing)
Did my time. Just pay me out.
This "American" bank is obsessed with staffing up in the UK and in India and Asia. Don't worry, when all the jobs have been moved overseas they may start the layoffs.
Are we in a hiring freeze atm? Is the next step layoffs if so?
you clearly haven’t been here long enough to know it’s not just about “layoffs”
and calm down, it’s not that serious
@5eak+1ttHILqi - are you being sarcastic? [serious equestion]
why else on earth would anyone visit a site called THELAYOFF.COM
it's the only thing that keeps (most of us) going. (or I should say, coming in)
Lay off the layoff topic
There is no funding for anything anymore. So nobody has anything to do anymore. But they they still don't have layoffs, they don't want to pay severance. Cheaper to have everyone doing nothing I guess and sitting around.
I don't think people are nervous about layoffs.... they're hoping for them - just the like the first response in this thread!
What's that? Ah-layoffs? Don't talk about layoffs? You kidding me? Layoffs? I just hope this m.o.ro.n CEO BM can find a muthafocka to layoff from this shlithole bank....
They’ll go into the annual hiring freeze towards the end of the year to finalize annual performance numbers for the analysts like nearly all publicly traded companies do. So don’t be alarmed by that. In terms of attrition, I know of many job openings created by those who left the bank that are being refilled by outside talent. Some of which wouldn’t make sense to fill if we’re truly wanting to reduce head count. So, while some people may be nervous and make some posts on here, and it’s OK to be nervous as it’s a nervous time in general, the bank doesn’t appear to be needing to layoff anyone. Inflation continues to cool, rate reduction is likely over the next 12 months, which will trigger a lot of debt activity in the market. It would be stupid for BoA or any real player in those markets to trim back now and then have to rehire at current prices (I know if that happened to me, it would cost them a lot more than they’re paying me today to come back, simply due to needed market adjustment that hasn’t occurred in a decade).
I heard 4 weeks ago in our weekly meetings that there will be attrition. I did not hear any attrition yet. It might have been planned during rest of the year. However non reporting manager said that present/future vacant positions will not be filled. Don't be panic but you never know. Some employees laid off during Feb 2023 are still open to work in attrition.
One mention of possible December layoff
No.
(I'd sign up in a New York-minute if there was!)