Thread regarding Bank of America layoffs

A bit of advice.

Even if your still working, cut your expenses now by 40 percent, as the most likely the unemployment benefit you'll get, will be 60 percent of your current pay. Save the 40 % diff while you can.

Cobra is too expensive. If your state has a healthcare system other than cobra, check into it immediately! You may be told you cant apply until your severance is completed, however, id start the application process a few weeks before your severance stops, as, in my home state, the health connector was/is a mess, and the process was a nightmare. At least, you may be able to get the application approved up to a certain point, otherwise, as in my state, it took me 4 months because their online system kept freezing up and the health connector people were useless in helping me. I ended up mailing an app in with my spouse as head of household and I suggest you mail in your application by mail to avoid the online system breaking down. Go online and update your resume using new formats. the formats you probably have from a few years ago may no longer be used. Its now a simpler basic design. Look at job listings for the field you want and get an idea of what the new employers are looking for. The government actually hindered my job search, as they kept wanting me to attend their classes and follow their ways or threatened to stop my unemployment. They actually made it harder to find a job. So keep focused on what your looking for, or they will trip you up. They're good at helping some people find jobs, but not at helping professionals in your field, as they have no idea what its like in your work environment now.

I left finance for the healthcare field as i wanted to help others. the state unemployment kept telling me i could get a grant for school and set up appointments for me to meet their people to start the process and after weeks, told me it would be questionable if i could get the grant, as i was leaving my field. This actually delayed me from starting the courses i wanted to take. I told them forget it and did take and pay for the courses myself, which did open doors into a new field.

I was layed off at 53 years old and was hired by a h.r. person who also transitioned from a diff field, and a supervisor in her late twenties who wanted someone professional and dependable, so dont think your too old to change careers. Yes the pays not as good, but my goal its to fast track and am already moving up after 6 months. I cant type forever, but i hope this helps a bit. Sorry for the format, when i copied and pasted, it took out the bullets i had in the original typing.

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| 1559 views | | 7 replies (last May 6, 2016) | Reply
Post ID: @OP+HfTSlwb

7 replies (most recent on top)

look into Medi-Share or Samaritan medical sharing plans. They qualify for tax purposes as healthcare and are much more affordable especially if you're willing to do a higher deductible.

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Post ID: @1vqw+HfTSlwb

I am over 50, and had worked for this bank for many years. And guess what? They laid me off.

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Post ID: @1fge+HfTSlwb

Targeting people 50+ years? Surely that can't be! That would be age discrimination. This bank is fully inclusive they would never indulge in such a practice. It isn't in their risk framework to pick a particular group of people and cut them. Next thing you'll be suggesting they fire all the white folk and hire Indian replacements. Oh wait...

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Post ID: @1ubw+HfTSlwb

The voice of reason.

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Post ID: @1lzg+HfTSlwb

Also 53. Was laid off in March, just after my twenty year anniversary and bonus! It really seems like they targeted those over 50 in my group. They also clearly do these frequent small layoffs to avoid filing warn notices with states. They really are a scum bag organization these days. I am trying not to be angry or hold onto hostile feelings, but I really just have ill-will for the idiot senior management in my group.

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Post ID: @1qye+HfTSlwb

Kudos for reinventing yourself. It's difgicult oncr you get older. Wishing the best for you.

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Post ID: @pkb+HfTSlwb

Great advice.

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Post ID: @ifi+HfTSlwb

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