Which bands are being targeted?

I heard band 4s a year or so ago and now read an article that Brian Moynihan said it will be higher paid managers.

"As the employee base continues to go lower, we think it's important to point out that the reductions on a percentage basis now include more highly paid managerial associates," he said on the call.

http://www.fool.com/investing/2016/07/20/heres-how-bank-of-america-plans-to-cut-another-3-b.aspx

Anyone have any clue as to which bands they are targeting? I am thinking 4 & 3s, but am wondering if below that will be affected as well.

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Well it's actually 7 people - 4 people on the team with 3 additional managers that manage the team as one of the managers is actually part of the team as he is the "project manager". 2 of the additional managers are in the hierarchy and 1 is on a different team but manages aspects of the project. 1 of these managers actually does a lot of the actual work and doesn't actually manage much - as if any of the managers actually manage anything other than their careers.

That is horrible- 4 people and 4 levels? That is not how it is in my dept. I wish they'd speed this up. Having everyone worrying is preventing people from doing a good job and it's been going on now for over a year. Make your cuts and end it so people can stop living in fear and concentrate on their jobs. It's ridiculous. What a bad tactic.

Band 4 is a good place to start, they are the lackey's of Band 3 and don't offer much in additional value but do cost a good deal to have around. They usually have a series of at least 3 levels of management underneath them to protect their position. In our team of 4 we have 4 levels of management - making it difficult to get things done requiring constant reviews and meetings to satisfy confilicting agendas. This is BofA ML today!

Thread regarding Bank of America layoffs

Which bands are being targeted?

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