Thread regarding Bank of America layoffs

Not a rumor....B of A just laid off employees today 11/15/17.

I've heard of HR/manager meetings 9/25, although my own supervisor let slip he knew for weeks before the last. I also heard that it's all LOB's.

If your supervisor or manager starts suggesting you share your knowledge with junior members of your team, figure your name is on a list.

Bank of America is a useless bank... Especially in mumbai... The crowd is cheap and grade... The tech head and it's biz manager are gross and dopes. And r still surviving there.... The HR is useless...they don't even have the guts to hand over the link slip to their employees... Cowards

Frankly speaking bank of America is nothing but a beggar. They have disgusting HR in the Mumbai office who are nothing but morons including their seniors... They talk nonsense and are worthless.. Thank good ness I joined credit swiss

More layoffs at Bank of America today, many seem to be long time associates.

Layoffs confirmed today in GT&O/ technology teams. Over 200 sent packing in our LOB

Just heard huge reduction in force going on today in technology!!

We had layoffs last week 5/3. Westlake Village, and people are quitting. Same ole. Qc/qa. Stuff, or it reflects on the boss who in turn tells staff that we have to have no mistakes allowed. No morale and political with upper management

The layoffs have started. Not surprising - I hit 55 and bam laid off.

Who will get cut in March 2017 - rumors are swirling again

It's going to be bad for banks in general. DoL rule, FA compensation declining with more jumping ship to independent practices, economy in general - all are going to hit banks hard and soon. As more jobs get outsourced, business gets moved to Edge and interest rates are stagnant the bank will be too preoccupied with meeting market analysts' estimates and use job cuts to do so. They've already been criticized for making the numbers look good with cuts but there's no real business growth to look forward to. All finance and banking institutions are being faced with these cost-cutting challenges. I'm just sitting here waiting to get the call. My dept has about 110 people and management is already mumbling that our workload has tapered off (it's cyclical, in a month or so we'll be swamped). They already told us they will reduce staff by attrition first, which hasn't happened - no one is leaving. Low-hanging fruit is next, but we didn't get an answer on if that's poor performers or highest salaries first. If I'm here by the New Year, I'll be actively looking to leave. Nothing to keep me.

Predictions - Good or Bad. It doesn't matter anymore. You're still getting screwed in the end.

Just like at Wells Fargo, the senior management will always be protected! So what happens lower down is really no concern as long as there is some kind of profits to report to sharedholders.

They don't even hire local contractors or consultants!

How do contractors (tsys, infosys, etc) figure into the 200K headcount. Always been curious of that. We have contractors with more tenure than employees now. How you can be considered a contractor and be employed at the same institution for 7-10 years, yet the bank refuses to hire a FTE is shameful

I think that upper management sees 200k as a nice round target for headcount, just a gut feeling. We'll still be big but smaller than other large entitiesand it skied considerable drop since the peak in the 280s.

There's definitely something brewing for Q4. We had the most cyptic and awkward call with our leader in the CFO group last week. She basically said that MyWork people who aren't close to a hub site will have "limited career options". She also sounded extremely stressed out. Translation= layoffs are coming

You don't have to be incompetent to be laid off, actually it's the most competent people that are laid off as they are usually the biggest threat to their incompetent managers!

I predict JsK7kh1 will be laid off for being a complete dope and worrying people on this site for no other reason that he/she is incompetent and has no work to do.

Stuff is going to hit the fan Q4. Too many hush hush behind closed doors calls and meetings.

Q4 2016 is really more relevant, last year Sept started the monthly waves

@JsK7khl-iqz - any info?

2017? Wait till you see what happens Q4 2016!