Just heard at a party last night that they are getting rid of even more people next week than they did last week. My understanding is that the economy is about to make a very huge and very drastic U-TURN after a HUGE announcement about someone in power.
Once that happens, all heel will break lose and Brian will have to accelerate his RIF plans.
This came from a very trusted source!
So, isn’t it time to change the title of this thread to “layoff last week, again, just kidding”…
I'll stay until I'm 80
@1e2 Sc--w the family with the 3X life insurance... I rather die knowing that BOA is behind me and I was enjoying retirement. Layoffs with my name attached preferably. Do you think that I prefer dying on the job enduring all that cr-p that BOA dumped on me? I do not want to be in the news like the unfortunate person who died in NY last year. No way! I am only getting paid for a glass filled. Spillage as overtime is just a waste of time.
@14p Better than the nursing home.
@19y well...if I have to choose where I die then let it be at my desk. Face in the keyboard and assuming room temperature can get your family 3x your salary if you chose to go that high during your benefits enrollment.
Always look on the bright side of life...
@14p Could you imagine spending your last days at this dump? Bleh. How depressing
This bank has turned into a huge sorority deranged hen house. I'll be happy to leave.
We have plenty of people at the bank that are using walkers. The bank will slow play layoffs. In tech there are many people reaching 65/70 yrs old. Rather than pay a severance they will let life force them out of workforce
Bank of America didn’t necessarily buy ML. Bank of America was told to bail out ML back then from the Fed. Just as many others were told to absorb several others with gov support. Also, we are no where even remotely close to the edge like we were back then.
Clearly you wern' here when we bought ML and had 300,000 employees. I would say 210,000 is a better size. Sure we can trim more but bloated is a bit much.
"The place has gotten too fat, too bloated. 3 people being walked off the floor in an afternoon.... hit the Snooze button."
Problem is they can't even do layoffs right. I'm sure the 3 people walked off were probably 3 of the lowest paid employees in that department. Meanwhile, there are probably 4-5x more directors and managing directors than there should be, drawing big salaries who are worse than useless. Useless and just taking up space would be an improvement. But most of these empty-title hacks make everything they touch worse and less efficient.
Puh-leaze!!!! Just stop it until you have something true and verified to say.
Back in the early oughts -- when facing REAL layoffs for REAL people, who we knew -- we had a manager in Dallas (fmr NB, 'nuf said)) who -- when our management team would fight the layoffs (yes, there are managers who push back and HARD) -- who would ask us:
"Look, these cuts are happening. It's like chopping off the tail of a dog. You can do it by little puppy cuts, a snip here, a snip there, but that tail is coming off. Better to do it in one fell swoop."
Really gross, I know, but that is what he told us.
We pushed back, stalled and delayed as long as we could.
So these drips and drabs you rattle on about here, sound like puppy tale cuts to me, and not real bona fide LAYOFFS, which would number in the 10s of 1000s.
Sound cold? yea, you bet, But after 40 years here, unless the cut adds up to more than say 50,000, it just doesn't rate any more. The place has gotten too fat, too bloated. 3 people being walked off the floor in an afternoon.... hit the Snooze button.
Sorry to them, but they will end up better off in the long run. Be happy for them.
rhetoric*
You must work for bBank of America!
@OP Cripes, can you be a little more vague? You posted this without any hint of factual knowledge. We're all under enough pressure to keep this company moving. A lot of people are dealing with family issues as well, yet you have the gall to post garbage redorick. Do us a favor, if you are a troll then stop, otherwise don't post anything unless you have facts and can be verified.
@k6 What campus, what LOB?
Me and 3 coworkers got walked off the campus this morning
What's that?! Layoffs?! Don't talk about layoffs? You kidding me?! Layoffs? I just hope they can find a mutherfocka to layoff from this complete shlithole of a bank!!¡
@fg
Oh give it a rest. How many times have you posted on here of big layoffs coming, and it’s little more than a trickle. BM just said a commitment to hire nearly 10k more veterans at the Q3 presentation. When you’re running a 200k+ employee count business, layoffs are a daily occurrence in general. There is no massive dump of employees on the horizon. This is not 2008.
Terms of savings… it’s called severance.
The doubters will see soon enough. If you want to live under a rock and panic when your day comes and you have ZERO savings, be my guest...
This is absolute junk. The US economy is not susceptible to one person’s influence in general. It’s why the Fed is not under the direction of the Executive Branch.
Sounds like one too many at the bar at your party…
if you are in upper management the party never ends
it's no secret that the economy is completely detached from the stock market
the stock market is more correlated with the US debt
@OP You should have stayed at the party. You would have been more realistic to yourself. Layoffs are happening in dribbles according to what has been stated on the forum. Unfortunately in my building, no layoffs have been reported. NONE!!! This is why I will not believe anything until something official has been reported or I get information from confirmed sources in my building. Until then, continue wearing your costume as Halloween is quickly approaching.