Thread regarding Bank of America layoffs

Doesn't BAC have a unit in India called BACI? Employees working for BACI are "technically" working for BAC? So would this then be

a) Company applies only for minimum number of US based H1B visas (read: under the radar) toward full time hire of cheap labor in US. H1b visas go on to become Green-card holders (process takes more than 5 years, thereby locking them in at low pays for this time period) and consequently citizens of USA.

b) the remaining need for cheap labor is fulfilled by BACI folks (in addition to contractors) who come to US on more easily available B2-visa or L-visa, etc for short period of time (less than a year) and this is a win-win for both BAC and the imports. BAC pays them in-region pay (cheap) and only pays them a $ stipend for expenses in US, thereby saving a boatload of $. The imports here in US do not have to pay taxes on the $s earned, group up in fours or fives in 2-bedroom apartments, thereby saving their stipend US $s to take home extra big-money or shop branded stuff.

Probably the reason for short-termers/ Indians swarming the BAC buildings?

The job posting process is frustrating. I've applied for positions which I was well qualified for internally and only get as far as "hiring manager has your application" only to get the no thanks email days later that they are going with more qualified applicants. Then over the course of the past couple weeks I still get job alerts for the same position opening?!? Convinced they want cheap labor that barely speak english.

there is no fairness in BOA.Their recruiters are contractors too,so they could care less.The best way to be hired for another BOA position is to be an avarage emploee .

After I was unexpectedly laid off from BOA, I too was passed over for jobs that I was more than qualified for. I went on a few interviews for comparable jobs and instead lost out to temp workers who were offered full time jobs. I find it odd that workers with Exceeds on their PDP's get let go yet trouble making associates get the job stability. Where is the justice and whatever happened to the bank operating by their Core Values??

H1B's get the job done- Best joke I heard all day... H1B's can follow a script, if that script goes left or right they dont have a clue. BofA does not care about getting the job done. As long as wall street is happy BofA exec are happy. That is why there are so many contractors- the bank might have 300,000 people working but if only 100,000 are FTEs that all wall street sees or cares about. Plus contractors can be let go at a drop of a hat and BofA does not take the hit.. its the contract companies who let them go...

I also noticed that they prefer to hire people with average work record.They dont like hiring overachievers and #1 employees.They rather hire slakers than people who get the job done.And it's not that they dont look at your record,they do,but prefer to hire low and avarage performers.Not to mention with bad attendance.I wonder why?

It's only cheaper in the long run to hire Indian contractors. Also the "cheaper" Indian contractors "appear" to get the job done? But, do they really? Or do the deficiencies just get hidden in yesterday's old news only to reappear once the contractors are long gone? They are sticklers for the little details and cannot grasp what really matters - unprofessional.

Postings are as said, just a sham that goes along with bringing in the H1Bs that already have a cubicle filled.

They should get an award for lying, I was also told they hired someone with more experience for the position I applied for even though I've been doing the job for 5 yrs, 3 months later everyone was laid off so they did me a favor for now

it's probably cheaper for the company to hire contractors for short term projects and also has a preference to hire more Indians than their expensive counterparts in US. Indians still get the work done with less pay

It's cheaper to hire someone from outside.

Had the same problem! They prefer to bring in outside people instead of re-deploying the people they have - maybe the new people will better! (pretty bold for a company that's trying to minimize risk)

I applied for a position and was told I didn't have any experience, yet they hired a contract with a criminal record for the position. I have been here for four years and meet all requirements and also letters of recommendation from previous managers but I can't even get an interview for anything!

They're posting them as part of the H1B process so that they can say they can't find local talent and have to bring the pervasive Indians!