If you are in GT&O expect it to be a monthly thing... Bloody Wednesdays as they call them
6 replies (most recent on top)
You are so right. The leaders left lead by abbusive tirades and abrasive behavior. The higher up the manager is, the worse the treatment. and it all trickles down, the imature, unprofessional treatment. It's appalling if you've been with the bank over 10 Years and have seen the transformation of behavior.
Seems valid, I was (officially) let go Feb 25th last year, which was on a Wed, this year the 24th is a Wed. In reality it happened about a week before, during which time I had to ship back my laptop, etc.
When I look back getting "let go" was a good thing. Sure it sucks in the short term, but living in fear under constant layoffs is no kind of fun.
I am happy in my new employment, but I have a lot of friends still at BAC living under the axe so I check in here from time to time.
All I can say is this... keep your skills sharp and your resume updated. Linkedin is your friend, but it will generate spam to deal with. It's worth it. if you're a technical worker Dice is good too, but be ready for the onslaught of recruiters... don't put your home phone number on there, haha. And don't believe everything the recruiters tell you, but some of them are genuine.
Package me. Pretty please!
I have resigned myself to the fact that maybe it is a good thing that I get let go. They have cut the associate base to the bone. The long term domain knowledge that the remaining associates have is something that cannot be replaced. It is sad really. I have been doing this now at BOA for over 12 years. Been through cuts like what is coming once or twice a year. They have let folks go recently that are the type of people I would hire if I was using my own money to build a business. These are not well thought out strategic decisions. They are instead being done solely from the mindset of an accountant.
They are no long a growing strong organization. Right now I am working for a dying, negative, thing that does not care about experience, effort, or potential in people. It is all about numbers and we are on the wrong side of those numbers.
Someone else here said something about taking charge of your career. I agreed. A big part of me thinks that I have spent way too much time working here and deserve better. Living in fear of being let go for many years is not a way to live. I can provide value to another organization and hopefully actually look forward to a growing healthy career.
It has been a good run. There was a time when I loved working at the bank. That enthusiasm or outlook changed a long time ago. Change will be difficult and we are all at some level scared of it but I accept that I need to make one. Life is short... may you live in interesting times... etc... I am truly looking forward to the opportunities out there. Peace fellow BoA'ers
Unfortunately Bloody Wednesday, or Thursday for the matter, has become a regular routine at Bank of America. I was employed at BAC for 12 years and proactively decided to take a new career opportunity about a year ago - best decision for my personal happiness btw. However, I still regularly check this message board out of habit since it is one of the few mechanisms that provided insight into the activities within the bank due to lack strategic transparency. That and I invested so much energy and thought for years that I want BAC to be successful. The fact of the matter is that the bank has decided to cede market share in the mortgage segment and for the most part has resolved legacy challenges. The staffing has to come in line with the needs of the business and due to this, there has been and will be collateral damage in terms of lay offs and managed exits. This is very difficult and affects the individuals and their families of those impacted. This is personal and difficult. However, I feel the bank needs to be aware that in doing so they have changed the culture in a dramatic way. I'll explain this in BAC year end evaluation speak - I saw a complete shift in Leadership from an understanding in the "what" and the "how" categories that are the framework for evaluating success. Senior leaders that persisted appeared to be rewarded on the "What" and not the "How" ... If they managed risk appropriately, reduced staff and supposedly added efficiencies, rewards and retaining employment are real. However, the "How" was no longer a factor. The best Senior Leaders I worked with that invested in the team, demonstrated mentorship and transparency, lead by example and nurtured growth were squeezed out. The ones who lead by intimidation, abrasive conflict and appeared to make decisions in a dictatorial fashion were rewarded. I hope my observation is my singular perspective as I have many great friends still working at the company and I wish them and BAC great success. However, I fear for the future as there has been an incredible talent exodus and those that remain in leadership don't appear to understand the fundamental saying in business 'a happy employee makes a happy customer'. I love my new employment and I am incredibly thankful for the career growth BAC has allowed. In the end, I recommend for those that have quit and stayed or that are ridden with anxiety to evaluate that offerings outside and seize them while the economy still offers much opportunity. I wish everyone reading this the best.
Where is this Feb 24 date coming from?