Thread regarding Bank of America layoffs

Bank of America is a ruthless, f—ed up company!
They will get theirs. Wait til it comes out about the unscrupulous Mortgage Loans they approved 1/2012 - 6/2013

There is no problem with the Bank, but there are too many incompetent managers who can't really recognize valuable employees. So, they use arbitrary benchmarks like age, number of years in the bank etc for firing the people. For some managers a 25 year old with no experience is much better than a person with 25 years of real banking experience! if the person is from India, he is still better! The only way you can save your job sometimes is to hide your experience and age to the extent you can! But the corporate management thinks, recognizing the employees for their number of years of service or their birthday is going to make them happy! Ideally it should, but we have too many managers , who use it as a tool to mark them for elimination! If the senior management seriously thinks to do any favor to the experienced employees, they should stop celebrating Milestone anniversaries and birthdays in staff meetings and just send them a gift to their private home address, But nobody cares!! So, the evil tradition continues!

I believe it. They are ruthless, practice annual lay offs. I go my walking papers after 6 years, and had to sign an agreement I would not sue them for laying me off right after being very ill on short term disability. If I didn't they would not give me my layoff package money. Which was like nothing. POS's are as bad as Wells. I don't work for banks anymore. All they do is lay off.

Wow

Good way for BOA to avoid paying her a pension. Once you hit age 50 or make $50K per year, many corporations put you on the chopping block.

Moving on is true... You have to. But 'b--ching' about it is also important. Sr. Management at the bank has no idea of the talent they are losing. They think just outsourcing it is simple and done. It's not! It takes years to learn process and systems. Looking to improve a quarters bottom line at the expense of continual quarters of loses is bad business decisions. Brain drain will destroy BofA plain and simple and the only advise that can be learned from all this is... If you work there, focus on yourself first and use your 40 hours to train and not do your work. And if you take a job there, do the same. You'll end up being used and abused in any case, easier to take their money and invest it in yourself first and only. Consider working there very temporary.

Just let go after 31 years. Coworker 44. Department was placed under a new line of business, told to train the associate who would replace us one on one and then surprise-your site is now closed and moved to another state.....just saying 👎

They have laid people off while on LOA. HR is in on this too. They don't care how long you have been with the bank. There is no loyalty from the bank.

Sadly, age,wage and tenure do matter. Don't be naive. It's all about the bottom line.

Anonymous139421 --> listen you shit hole, i just got my package from BOA also, so just stop whining move on, it doesn't matter if you r 20, 40, 60-------------------

I watched a person who was with the bank for over 30 years get cut last week. The person always had great reviews throughout their tenure but after they redeployed this person to a new team...the manager demolished them. Tanked their mid year review and no on asked the question "How can a person who has had rave reviews for 34 years get a does not meets on every metric?" If I was an HR person this would be a huge red flag I would wonder if it was a management issue vs employee. However after speaking to people in HR it's all about stank ranking. Tony Meola issued a challenge to cut people everywhere. If your department was on the list they look at the stank ranking draw a line that meets the quota and everybody below is gone. Who knows how my work people outside of 35 miles will be impacted. If they are ADA they may get a break if they are not....

So was it a he or she? Unless this person was on Leave or working from home they're not going to call you to lay you off. If you're in the office, you're getting walked out

They are going after employees with tenure so they do not have to pay them in the long run. Cheaper to slash them.

Also, they are weeding out country wide. Most folks with tenure are country wide employees.

screw it, move on. If your direct mgr doesn't like you, it doesn't matter what others think of you and how good you are. Welcome to the real world.

Meanwhile Bank of America's advertising is all rainbows and hugs. The fired employee had better meet with the EEOC.

That’s the young and dumb spirit “get paid and move on". There is a point where you are wrong, you cannot move on because of age discrimination. No matter if you can prove it or not the business will immediately check your age. Wait unit you get older dummy. You do not normally look to move after 20 years with a company and a real company will recognize you, not let you go. However, eventually you will find out this bank is a shit hole.

To play devil's advocate. What if this employee was offered more money and benefits from a competing company? Would this employee say: "Well, i worked for BAC for 25 years. I think i'll stay, because i'm loyal"? Years of service is like marriage. Married 5 or 50 years. There is just no guarantees. Just work hard, get paid and move on.

Was she given any type of separation package?

I agree there is no loyalty with BofA anymore.

I concur with the never been happier since I was let go. I too am happier. It's all bout who you know at the Bank... not your work ethic.

It no longer matters how long you have been with the Bank, how good of an employee you are - even in the Exceeds/Exceeds categories. I was laid off (earlier in the year) with over 20 years at the Bank. In my last 12- 24 months I witnessed such a decline in the morale of the employees and everyone working hard to just keep a job. In the long run it doesn't matter how hard you work - if just one person decides they don't like you on a certain day of the week....you are gone. Too many great employees are being impacted by a few bad senior managers. I have never been happier since I was let go.