Majority of the people who were laid off in the past couple of weeks were people who had many years with the company and are in their late forties and higher. It looks like ageism at Bank of America is still flourishing.
What are the chances people will wise up and actually start suing?
While not universally true, a lot of middle aged workers with many years at the bank would love to get the severance package as a bridge to early retirement or ease the transition to something new. Some managers are supportive and help that happen, fulfilling the quota with people who want to leave rather than with those who want to stay.
Also, the lists are reviewed and challenged by HR to catch bias and potential risks of lawsuits. That doesn't mean the manager can't write a justification to move forward but there is a review and challenge that happens.
I believe this to be true. The last round of layoffs also didn't have 1 Caucasian individual.
Yep, we are waiting....because we have put up with decades of silly reorganization and mismanagement. We have given up time with family and friends for tyrannical management and made up crises that feed their egos or placate regulators as solutions for management 101 failures. We don’t leave because they promised if we stuck with them and believed...we could be a great bank and serve our communities...we were s---ers..yep..we get that..and we are waiting for our payback or payout
In many cases these older employees are hanging around just "waiting on a package." And management obliges by laying off these staff rather than younger, less experienced staff in some sort of "win-win" scenario. In my experience many of these people being laid off are more than happy to get a package which includes a hefty payout based on seniority. It's the only reason they've continued to stick around vs. retire.
It is against the law, hopefully it will bite BAC in the arse soon, just like immigration policy changes
it's all about cost. Young university kids cost less and so are favored along with Indians over highly skilled older workers that have knowledge, expertise, and competence. When investors look at the balance sheet they don't see this and so they don't care. It's all just numbers. It will take a disruption in banking like Uber was to the taxi industry, to make investors realize that a competent, innovative organization is better than an organization of below average (or at least below what could have been available) skills but really cheap labor costs.
If you sue then you don’t get your severance. I’d rather much better collect the severance and move on with my life. Btw, I was laid off at 49 and we were all about the same age.