The executives are are on a roll big time, the Street seems to like it and our execs are certainly enjoying it. These cuts were not the last cuts... You think I am exaggerating but I am really very realistic and grounded on this topic. Get ready for RED2016 - a series of quarterly cuts that will eliminate 10 to 15 % of our headcount.
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The fact that the guy at the top states "I am very realistic and grounded on this topic" says alot. The adjectives used don't make sense in everyday English when speaking of a "topic".
Probably a troller.....ignore
@ Anonymous 188433
Sounds like you got it all figured out. So what are you doing on this site? Trying to figure out who is saying what? I'm assuming you have no concerns regarding your own position then. Wooowee, must be nice...
you're Full of sh- Anonymous188433. Skills may become "obsolete", people don't. I know plenty of folks with more boatload more skills and talents and general capabilities than most of the band3's and above who somehow seem largely immune from cuts relatively speaking. Other things come into play? Yea, like favoritism and nepotism, especially with the indian crowd. Sorry, truth hurts, but it is the truth. I just hope they decide you're a person who is actually obsolete sooner rather than later.
OK Sherlock, let me put it to you this way: We are in a state of permanent layoffs. Layoffs at BAC will never stop, you need to cope with that realization. At the same time, we hire tens of thousands of people every year. We do this to align our business with market and industry needs. Some skills become obsolete, some functions are no longer needed, other things come into play and we generate work in order to enable them. So, please stop complaining and accept layoffs as something that will stay with us forever.