Thread regarding Bank of America layoffs

The ML business and the supporting functions have been integrated into BofA, it is no longer something that can simply be separated out. That is why it doesn't exist as an entity on its own. The regulators look at the business aspects of what may once have been ML as part of BofA.

Whatever moron keeps saying ML doesn't exist please tell the regulators, since they sure seem convinced ML related activities are forcing BAC to retain capital requirements as if it did exist

ML doesn't exist! It has been merged and most of ML has been replaced by Indians, like the rest of BofA.

Read the statement,"The case is Messina v Bank of America Corp, U.S. District Court, Southern District of New York, No. 16-03653." There is no mention of ML in the article. The person in question either has poor negotiating skills or is a benefactor of an affirmative action position and just expects to be handed everything on a silver plate!

@HohXagI-2zus - pretty sure this behavior occurred in what was the old ML. Seems alive and well.

https://finance.yahoo.com/news/senior-female-exec-bank-america-182330793.html

Seems someone didn't complete their mandatory compliance learning related to diversity, inclusion, equality, all the BS the rank and file is subject to that someone pulling down 17MM gets a pass.

Interesting article but realize that ML no longer exists!

Even better followup - explains in surprisingly simple terms why BAC is DEAD Money for its shareholders relative to its so called competitor banks. As we've said on this forum, this is consistent with BM's cutsey term "responsible growth" which as this forum as rightly called that out "no growth". As long as BM continues this charade stockholders and employees will continue to suffer as he tries to unreasonably make something work by only axing employees that is ultimately doomed to failure. Fess Up BM - do the right thing and cut the lawyer double talk. As others have said, even ML would wish you'd let them free to do what they (used to) do best (without your and the new regulatory BS).

http://www.fool.com/investing/general/2016/05/15/industry-focus-financials-05-09-2016.aspx?source=yahoo-2&utm_campaign=article&utm_medium=feed&utm_source=yahoo-2

Only the best are laid-off or are leaving! With the new hiring of more junior, mediocre employees, the great BAC culture that once existed will be long gone. The BAC stock price is so far a good indicator of how well it's doing with the new toxic culture - hasn't been able to reach $18 again...

If only that BAC culture still did exist, it's evolved into taking the worst attributes of the acquired companies

The original ML lob no longer exists as it once was. 90% of the original company has been laid-off or transitioned elsewhere! ML is just the name of a BofA division which is the brokerage business. Yes, the legal entity still exists but that's it. When BAC hires the mediocre employees to replace experienced professionals, the only prerequisite is that the BAC culture and ways are maintained and anything of any real substance and value is considered legacy.

I'm sure the ML lob would love to get sold and be out from under the BAC assclowns who have no idea how to run a brokerage firm. BAC hires mediocre employees and expects nothing beyond showing up.