For a skilled senior manager within BofA, firing someone is a pretty straightforward exercise. It just takes a bit of patience and an ability to game the system of documenting alleged shortcomings by the chosen employee. I witnessed a well-orchestrated hit on a Band 3 work to perfection starting with a coordinated assault using the 360 review process followed up by interim reviews with negative business partner input (pre-arranged) that led to a DNM on the How. Follow that up with an impossible to meet Corrective Action Plan, and your decision to fire can be bullet proof. In an environment like we have today where managers have every incentive to cut staff, the task gets easier. You just need to force rank someone as a weak "Meets/Meets" and when the next round of layoffs arrives you have his/her head on a platter. This is not and never has been about fairness or doing the right thing. It is realpolitik BofAML style.
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Getting ready to short the stock! When the market turns, this thing will fall like stone with all that dead wood that's left to keep it going!
End of a 30 year long career at BAC
After 30 years with BAC, my direct manager wrote me up for an incident that happened with our off-shore (india) support team.
I spent 10 weeks training this team to be the operational support for our group. Once training was completed, my US team (3 individuals with at least 15 years of service each) were let go. After 2 weeks of off-shore support, there was a miscommunication by the off-shore team, that pissed off some Band 2 manager.
This mnager complained to my group executive (in RI). Next thing I know, my direct manager writes me up and puts me on notice. Once written up, I had to return to the Uptown Charlotte office. I could no longer work remote. Within a month, I was presented with an individual that I was expected to train, to take my position.
The reason being, I had a DNM rating and was considered a flight risk to leave the bank. With the DNP rating, I would not be eligible for year-end comp, even though the year before I received a Exceeds rating on the What portion. Since I qualified for the Rule of 70 retirement, I gave my notice and used the remaining vacation time to finish my 30 year career at BAC. I have not looked back since.
Worthless senior management at this bank.