How many people in the group were hand picked and were moved to another building or department before the axe fell (this normally happens a few months before but you do not see it)?
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The rumor I was told and implied during meetings. The new health care act will make it more positive to hire contractors instead of keeping more permanent employees. I am sure there is also a tax break they have found. After the dirt settles we can give out large CEO raises for saving money.
Since Boa likes hiring contractors go thro them and make double the money. Makes no since but like everything at the bank if it sounds like a good idea and makes sence lets not.lets hire contractors and outsource and pay double or even triple the cost but their saving money so they say because they layoff you their underpaid employees. Oh the thinking of corporate
They never help to find you other opportunities. They lie!!! I'm still waiting for my "other opportunity" while I'm in a position I started with years ago. Thanks a lot Bank of America.
Corporate workplace is the management of all the corporate real estate. Construction management, Planning, etc. Many folks who had been with the company for years were effected. All outsourced nationally except for a few positions. Bank employees have to interview with the outsourcing contractors and if offered a job would get same base pay with lower bonuses. Anyone offered a job has to take it or will loose eligibility for a severance of 2 weeks pay for every year of service. Those not offered a position will get the severance and shown the door. Sort of a slimy tactic to avoid paying the severance.
500 heads!!! Wow!!! What is Corporate Workplace?
They dissolved the corporate workplace. All out sourced. Over 500 heads chopped.
BofA will work to assist any employees who are not offered positions in finding new opportunities within the bank.It might take months so don't hold your breath.
I am sorry to hear this, good luck!!! What location? What department? What positions?