Thread regarding Bank of America layoffs

I like this post and needed to read it. I'm not a single mom, but I needed my job. I had plans for my kids this summer that I can no longer follow through on and to find out I was laid off because earlier this year I was on legitimate medical leave had me kind of down. Thus made me realize there really is no success to had at BOA as the ship is sinking fast...

Excellent post. Thank you for putting me on the street BM. ME/EM reviews meant nothing. Cost saving ideas submitted and $$ saved meant nothing. Thanks for F'ing me over.

Amen @HviLTzb-2fmz, did the same!

I pulled 7 figures worth of checking, deposit, and investment balances out of Bank of India/Merrill earlier this year when I was severed. I think they were surprised that someone of my age and level had as much with them. Both my Merrill advisor and money market reps pleaded with me to reconsider and keep my money there. I told them to F off and thank Cathy bessant. Most of my friends, family, and in laws have since done the same per my advisement. This is the way we hurt this sh-- institution. Spread the word and boycott.

If BM had any balls he'd sit down with his directs and 2 downs and say I need a workable idea to grow revenue, you're all grossly overpaid, we need original ideas and I'm tired of the excuses. After all, we need to win in the marketplace, NO excuses, that's what I keep saying, its BS everyone knows it, but well, that's going to change, and now.

Of course, none of the people at the table has ever had an original idea, and he knows this. The carrot is for every 500 rank and file people who we lay off we have a new lottery system. Unless you've provided me a new idea to grow revenue that works, you are part of the lottery. We get in a nice cushy room, I'll even serve a catered lunch, and I get to play Monty Hall. That's the reward for making 20 mill a year. I spin the wheel, I pull a name, and that person also gets canned, Now THAT is an original idea, and that would certainly grow revenue. Here I be a lowly grunt. What's the best original idea Cathy Bassant has had in well, ever?

Kind of like a dog chasing its tail, can't get it so it lies down and starts chewing on a bone which is one of its legs. When it gets up, it can no longer run, so it lies down again chewing on another bone. This continues with the result - the dog can no longer walk at all, but at least it's not hungry for the time being ...

What that idiot BM (ever stop to think that his initials are also used to reference a bowel movement? Coincidence? I think not!) didn't realize was that all his cuts were done so viciously that people cut likely took their money and business elsewhere too which means he may have saved a few bucks but he lost good business as well. The shareholders are not too pleased either since even with all his pay increases, the stock hasn't recovered as it should have and eventually his day will come.

I can def relate to the single mom, making under 40 k a year... (Comment) for sure

Those unfortunately were BM's ideas for growing revenue over the last few years, as mentioned at the Town Hall meetins! They haven't been working too well and so he obviously opted for plan B which was to start cutting "expenses". If you really want a target to blame, look at Obama and the Democrats. They've created a plethora of regulations stemming from Dodd-Frank to diversity which have literally crippled the business from all sides. Dodd-Frank has stifled the trading and brokerage business; and diversity, although it may have had good intentions, has introduced an unproductive, nitpicking, cronyism element that has destroyed any latent expertise and future innovation.

I like this post! The sat line really hits home what a joke.