They think they know what they are doing....more people will leave than stay...and the project will be at risk before they are ready. Bet they have to offer retention bonuses to keep people!
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I think they give the warning to scare people into quitting or finding a job elsewhere. That way the bank doesn't have to cough up severance. They know what they're doing.
The first Loss Mit groups that got let go 2 years ago got the best packages... and were the worst performing employees. Is this nee 4 month advanced notice taking the place of WARN and severance? S---s if it is.
To the uw below. Don't blame ROQA if you don't know how to copy and paste from Bank statements to the system. LMAO.
Not surprising if HAmp/harp, the bank will be screwed if it gets extended
Mods - Hamp / and Harp refi's are ENDING December 2016. We all knew this. So, None of the LAS / DFW (CRM, UW, QA, ROQA, MANAGERS as well) layoffs should come as a surprise. As far as redeployment goes... there's only so many places BofA can redeploy to!
Obama did not extend this time.... Will he extend it as he's leaving the white house? Doubt it! Will our "new" President put it back in place? We shall see. Good luck all involved ! (got my pkg awhile ago) It's hard! I miss my friends.
QA was already being over taxed as it is. So much so that they weren't auditing incomes or debts but rather tenths of a cent in assets or whether middle initials were included in searches against records. I have to imagine that underwriters aren't far behind in hearing this news. But you got to admit it is funny to think about how upper management is going to have to explain quality to the government or other investors when Indian underwriters are reading hardship letters from inbred rednecks from Georgia and than try to calculate there army reserve pay, disability income, and food stamps balanced against their delinquent child support and repo'd trailer debt. You see Indian's do speak English. Remarkably well. But it is the Queen's English. Not Mark Twain's. I do not envy the added challengers the people who follow us will face. As things will be lost in translation. And understanding the directions given to us may as well have been written in Greek.
Don't get me wrong. There have been stupid people on both sides. The real irony is they were either packaged or redeployed. Those of us who made it this far now have to play musical chairs and apply elsewhere or wait out the year and line up for UE in January.
Thanks BofA. I'll be sure to recommend your excellent products to everyone I meet.
BOA would rather have their QA done by people that are only capable of viewing things in black and white. Absolutely you will save your money, but at the end the quality will suffer and your customers will find business elsewhere. Your stock will decrease even more than it has and unfortunately you’re new ‘We Can Deliver” App won’t be able to help. You should call your new app “Off-Shore Can Deliver” Maybe that will finally increase your stock.
That's why it's actually Bank of India!
Are these all the positions that were created to comply with the consent order? And CQA? Is what is the "C"? credit? Compliance?
Disgusted at the fact all of our QA jobs are going to India. Great job BOA. Great job of taking care of your own.
QC in Plano and Simi to be gone by end of year also.
QAs in DFW and Chandler for mortgage loan mods given notice today as well.