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Topics regarding layoffs at Bank of America
Some MDs in Global Markets do not deserve their pay. Higher salary means more responsibility. Managing directors should be responsible for trading revenue down. Should rank MDs by revenue contribution and get rid of bottom ones.
With the ceiling for Bank executive titles being SVP (outside of Chief level positions), I am noticing several Executives with titles changes to "Managing Director" of late. Merrill Lynch has some Managing Directors traditionally, but the Bank has... read more
I work in risk and I can tell you Global Markets hired too many people for amount of money they earned.
Haven't heard from Albany Troll for a while. Wonder if all is fine. Should we file a missing person report?
Nothing more to add, things will continue be just weird... The apps are dropping, the customer is nowhere to be found and the rates are going up... Have fun.... The MBA Mortgage Application Index fell 6.6% last week, following the prior week's 4.1%... read more
sign of bad supervisory practices in trading
overstaffed front office is a real problem. there are too many people with “trader” title do not trade, with “salesperson” title but do not sell. then you have lots of MDs who do not generate revenue but claim themselves “important” for revenue... read more
When inflation goes up your salary should follow. It is one of the effects of higher inflation. You should keep an eye on raises and make sure they keep up with inflation.
How many are going to be walking on bonus day?
My manager encourages me to learn new things and apply the new knowledge I acquire to my work. Manager stated it doesn't matter what you do as long as you get the job done, don't break any rules and help us accomplish our future vision. I translated... read more
Nice to know people at such high levels follow these posts. Glad you enjoyed the live Space X launch. Will continue to posts. Maybe next time you can invite to the gathering. 😁
Perhaps a better solution is to cut front office people and team that don’t make money? When market was good, profits of trading went to pocket of trader but when market is bad, trading want other line of business to pay its loss? NO WAY!!! It is... read more
Kennesaw Estates unit, 162 people. . . Packages offered, late March / April timing for full exit.
Will this translate into layoffs?
The answer is, grab as many headcounts as possible even though you don’t need that many. Your managers will on your back as they can’t cut your entire team if the team is big.
I have noticed this strange smell for a few weeks now but I can't really tell what it is. Could it be a mergquisition?
I get the feeling many associates would be dismissed/fired if they had a random drug testing policy at work.
If anyone knows anything about layoffs coming in the first quarter of 2018 please reply. If you can provide dates, and site, and which groups, and any other information you may have would be appreciated.
Were not comp and bonus discussions supposed to be wrapped up by 1/31?
What a way to celebrate your b-day with a Super Blue Blood Moon Happy b-day #9
A corporate America dream team - Amazon, Berkshire Hathaway and JPMorgan Chase & Co. - are combining efforts to improve health care for their US employees. / How about BAC... read more
If PnL is bad for everyone in team, will they replace director and MDs or let VPs be scapegoats?
I’m feeling a big one coming. Why else are the managers all in secret meetings?
Is it time to short the stock? /
Post the links
Does anyone know whether bonuses are locked in at this point and is it safe to give 2 weeks notice? Or could you lose it?
&JPM is investing twenty Billion dollars in the USA within the next 4-5 years. Opening many branches and hiring a lot of people. I may have to switch my account to &JPM.
There is so much being discussed on this board. Looked at other boards for financial companies and nothing compares. Why is that?
What can one infer if your bonus was higher then last year but you did not receive an increase in your salary?
Very s-xist place to work. Complaints are quieted or people get a slight 'coaching' if they report. Then the victim is picked at by the horde of people who support this vile culture. Worst perpetrators of this culture are other women.....they dress... read more
Equities Trading first year VP get paid more than 200k base? That’s too much...
The latest is that all the areas are completing an "Operational Excellence" exercise, documenting functions across their customer facing, business operations and support areas. The project is supposed to last 3+ years. The communicated goal is to... read more
Anyone hear that the 1k bonus was the only one coming? I heard they’re doing away with bonuses this year. Really hoping that’s not the case; a lot of people depend on those!
In my GT&O organization (heavy back office ops LOB) we have seen a new level of executive disregard for forecasted volume, being severely understaffed, and micromanaging productivity 5 levels down. Many many signs point to a line of business sell off... read more