Have had three different people tell me about their job "reclassification" in which they are told their positions are being reclassified to "align to the market" and as a result their salary and band level are being reduced. This is a new one to me - nice job BofA!!!
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This is not a new tactic. They did that to me and my coworkers in Tech about 3-4 years ago. What’s that saying about tigers and their stripes or leopards and their spots, oh yes, they don’t change them!
It happened to me a few months ago - went from a B4 to a B5, and a significant salary cut, not to mention a lower bonus pool. In my case, it was to "align within the org"
Here we go again. We were prepped earlier in the week in a meeting that it could happen and don’t get discouraged you are learning a new skill set.
First Reclassification, then Termination.
This happened in 2012 where any band 4’s that reported to band 4’s were moved to band 5’s. Salaries were not reduced but it affects bonus pools and reduces income also puts you in a situation where you won’t get a raise