Thread regarding Bank of America layoffs

Forced band reduction, what are my options?

I was reduced from a band 4 to a 5, responsibilities reduced slightly, no immediate salary reduction.

I didn't want to poke the bear and ask "What if I dont want this? What is the alternative?" So what IS my alternative, could I have asked for a package? Would I be put on a 60 day search then terminated? the leader treatment literally violates the code of conduct daily but execs get away with it.

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| 3182 views | | 10 replies (last March 14, 2019) | Reply
Post ID: @OP+XWNtBVk

10 replies (most recent on top)

Talk to a lawyer about possible constructive discharge

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Post ID: @8dvr+XWNtBVk

You’re reading it incorrectly. HIS/HER Band 4 position was eliminated, not all Band 4 positions.

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Post ID: @3iiw+XWNtBVk

Band 4 eliminated? Huh? I can see plenty of questionable band 4 appointments, but surely there's some band 4s who will never be forced into a 5 and similarly will never be promoted to a 3. That suggestion seems very much like doesn't make sense. Addressing band 4s who should never have been, that is believable.

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Post ID: @3bva+XWNtBVk

Where did the band 4 elimination info come from? Or where is it written?

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Post ID: @2fqv+XWNtBVk

Guideline was that if the pay reduction was > 10% of the base pay ( this was the threshold few years ago) then severance had to be offered. In your case, it appears like it's not. If you choose not to accept the band 5, then you will not get any severance and will be laid off as well. As per HR the band 4 role is being eliminated and you were offered an available band 5 role with comparable base pay (i.e < 10% reduction). Refusing means you said no to an alternate job offer and will not be eligible for severance. Most of the times they can still give you one, but legally they can avoid paying any severance at all after your refusal.

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Post ID: @2faq+XWNtBVk

If you are close enough to retirement, unofficially volunteer to be laid off by contacting your group's HR point person. The standard package beats quitting with nothing.

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Post ID: @1rik+XWNtBVk

@ohj

If you are close to retirement you should get away from dodge they are not very reliable. Stick to foreign.

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Post ID: @1wst+XWNtBVk

I am close to retirement. All I want is a package to ease my way into it

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Post ID: @1zsu+XWNtBVk

Unless you're close to retirement get out of Dodge asap. More changes will be coming you probably will not like.

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Post ID: @ohj+XWNtBVk

Sorry that happened to you. Your options should have been clearly expressed and documented by whoever relayed the demotion to you. But overall and if you’re still confused those are questions for HR I would think.

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Post ID: @pbs+XWNtBVk

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