It all goes down Monday
24 replies (most recent on top)
@fr+1k5fnkhzf - honey, 10% ain't what it used to be. (basically nuthin' now. )
Bless your heart.
@1dz
Global Payment Solutions…
@1ct what's GPS
Layoffs did occur in GPS yesterday but not sure how many. I had meetings suddenly cancel and found out through the grapevine people were let go.
@fr We are 9 months into the year and departments are having problems shaving off 10%?
10% should be an easy goal to achieve. More than likely they can probably do it without impact to employees
A Director in Global Markets Ops (NYC) was laid off this morning. There probably would have been more, but a bunch of people left on their own already over the last 4-5 months. It's a complete $#!+ show.
@vh what area where you in
got laid off GTO today, happy to receive severance package, time to refresh and move on to next role...
If there are hundreds of layoffs in ML, Private Wealth and Private Bank, then I would have to assume that (1) BM’s comments about the stability of the economy are incorrect, and/or (2) BAC is not doing a very good job on the market share of the HNW individuals out there, since ML, Private Wealth and Private Bank each cater to that demographic far more than any other….
There are layoffs this week, numbering in the hundreds across several groups in ML, Private Wealth and Bank. Notifications are being made this week. Two or three weeks severance per year if LOS is under/ over 20 years.
No mass layoff — already after lunch in the NYC.
@js Mass layoffs, probably no. But headcount still high and would not be surprised to see the bank quietly make targeted cuts to pay for last week’s announcements. They can still ride the PR high from last week and try to sweep those under the rug as they have in RIFs past
Let’s also add……they announced to the media the 25 an hour minimum wage hike along with the planned increase in the thousands of hiring of vets and all last week. You honestly think they would then publish mass layoffs a week later? Wall Street would think the leadership doesn’t know what it’s doing going up and down at same time and the stock price would plummet. Common sense people.
Mass layoffs? Where? Considering the silent quitters of the last few years and the understaffed departments, even more understaffed as they shift people around to fill the holes that were left over the years and the lack of hiring in the past three years…….unless the bank is closing up shop, mass layoffs doesn’t seem possible or logical. Stop the scare tactics. If there were mass layoffs, there would be signs of it including warn reports filed. The bank is doing well this year and doesn’t need to cut people to make their goals. Just look at the current stock price compared with months ago. Could people continue to be shifted around? Probably, because of the holes we got and lack of hiring continuing. With interest rate cuts coming that will boost borrowing? This is just another monthly troll posting the same cr-p. And the guy who claimed to be an executive……you had me convinced for your first paragraph until your writing became all too familiar. And why would an executive be searching for and posting to this little message board? Your Netflix broke or something?
@fr ok whatever you say chat gpt
Executive here - confirming mass layoffs on Tuesday the 23rd across much of the enterprise. Many segments need to cut yearly expenses due to the 2025 fiscal plan to reduce expenses by 10%. Meeting these targets and laying off additional headcounts ensures the B2s achieve their LOB Fiscal Plans and secure their personal bonuses for 2026 with exceeding the operating expense targets.
So yeah- when people are laid off - it's because your high up executives- who always say they care about you and "leadership" etc - it was done to secure their bonuses and livelihoods at your expense.
American Employers outsource more jobs.
Yay now BOFA well employ American Citizens! And straighten out all the sc--w ups left behind.
It just happened with an executive order
Is time to buy puts on 22nd? I need vacation money, they ain't pay so well.
I agree a major troll....someone who has a lot of time.
Close. 23rd. “Goes down” is a bit of an overstatement though.
The person that keeps posting this nonsense is a loser, most likely already fired for cause but continues to monitor the Bank board because of a sorry life.
Chuckle, Chuckle, Chuckle. BOA is part of the equinox celebration for the beginning of Fall. Free food for employees working in the office. Sorry, no food for the folks WFH.
No facts, Just More Nonsense...