Is anyone familiar with this process and what circumstances in which it is used? Is it done solely if your job is eliminated? Not necessarily due to a performance issue, but if the job function is eliminated? A google search provided that it is a 30-60 day window in which you are paid your salary by BofA to search within the bank for another position. No one I talked to seemed to be aware of it and didn’t know anyone who had been a part of this policy. Thanks in advance.
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Depends on how/why your role was eliminated.
If eligible, the standard is 30 days to find another role in the company.
(which may or may not be commensurate comp. ymmv)
Not everyone is offered. If you are liked, HR and your manager might help find a place for you.
Which may or may not be a temporary placeholder until a "real" role opens up.
But if you are not a "fave" or at least well-liked, you might get the offer to look around for 30 days, but find all doors closed.
So play nice out there, kiddos. Even if you don't like the other kids on the playground.
I experienced this after PPP around 2022/2023.
There was a re-deployment since the majority of roles ended with PPP and yes, we were paid 30 days to interview and find another job internally.
I ended up finding a new role within the 30 day timeframe and was re-hired.
Everything was sent to me in writing.
@cb unfortunately it’s not on Flagscape or in the employee handbook.
I thought it was while you are on severance you can post for BAC jobs as an internal candidate. Flagscaoe is the best place for you to look
Get everything in writing, a single sentence in an email can save you 5, 10, 15 years down the line.