Thread regarding Bank of America layoffs

The bank has been gradually outsourcing tasks, depts or areas to other countries or national sub servicing companies over the past few years. This is likely a result of their $25 wage decision for 2025. This way they can achieve that goal and pat themselves on the back while still cutting costs by outsourcing areas to cheaper options who pay their workers less. But those still working for the bank see the results in higher error rates in more critical areas. The outsourced workers in other countries or other national companies just don’t really care and shrug it all off or point fingers. Risk has been exponentially increased, but this will continue as higher management is only concerned with short term appearances and lower costs and not the risk involved with it. Those lower down in the chain who do the work have seen the results with subpar delivery of items, poorer quality in areas/ deliverables or just lots of errors always needing crazy corrections. The recent lawsuits might be evidence of this philosophy finally catching up for the bank in the breakdown of areas. Things will only get worse. Those left at the bank internally need to consider this in the next few years and whether to take a leap to a better run forward thinking competitor. New applicants need to consider this as their ability to advance their career or the quality of their jobs will be subpar compared with other options.