Thread regarding Bank of America layoffs

Many employees get cash bonuses next month

In an internal memo that was sent to the employees, the leadership stated that many workers that annually earn 100K or less will be rewarded with a $1000 cash bonus and the employes that are making more than 100K per year will be rewarded by 200-500 of restricted shares. The leadership didn’t state any specific criteria on which they will choose which workers will be rewarded other than a general formulation that the reward will go to those workers ” whose commitment and hard work drives our success throughout the year.”

https://www.charlotteobserver.com/news/business/banking/article220966445.html

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| 2681 views | | 6 replies (last November 7, 2018) | Reply
Post ID: @OP+VYoT0ke

6 replies (most recent on top)

Just get a job at GS

https://www.investopedia.com/news/guess-how-much-goldmans-average-salary-gs/

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Post ID: @3byw+VYoT0ke

Reading into it more...the bank has over 10,000 employees making greater than $350k....dang I chose the wrong track.

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Post ID: @3woc+VYoT0ke

@2pjv

You may just be the smartest person in your group and the wisest investor of time.

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Post ID: @2fhc+VYoT0ke

I'm a lazy a** so I'm not getting any bonus or a raise next year.

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Post ID: @2pjv+VYoT0ke

This is a very old strategy used by companies in order to try to keep key personnel around.

It makes companies think they can treat people bad and not have to worry too much about it since employees will be reluctant to leave because of the "free" RSU.

This may or may not be a good deal for the employee. I don't have the time to explain now but I will on Friday.

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Post ID: @1udi+VYoT0ke

The memo said that the 200-500 shares will be based on “compensation tier”, so it isn’t arbitrary as suggested.

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Post ID: @1jbo+VYoT0ke

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