Thread regarding Bank of America layoffs

Contractor Furloughs and layoffs

Started on 9/10 - Furloughs and layoffs.. will never hear it in the news because bofa is doing the furlough or layoffs its the contract companies.. in the mean time wasting millions with Cisco and Black Box on pushing paper around and charging out the a## for nothing...

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15 replies (most recent on top)

It's happening again.

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Considering that BofA is paying your vendors > 30% then what u are getting it is your vendor that is screwing you as much as bofa is ... thay could have absorbed some of it but that is their bonus.

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this is a game that the execs. play to ensure they maximize their bonuses.

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Go ahead and quit. I will take the job at that rate.

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Anyone know why?

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Well then.

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Gen 10

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Amen- Anonymous151555 ...

Bank is paying Cisco 45,000 plus to move telepresece units around the SAME TOWN... 7,000 for the SAME BUILDING.. but we get cut WHO THE F is running that flea circus?

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Bank of America Furlough and 10% rate cuts: (September 2015)

All the Bank of America contractors impacted with this furlough and rate cuts. Those vendors are Collabera, Apex Systems, TekSystems, Insight Global, Diversant, TCS, Infosys, Randstad and several other.. As per the known information 40,000 (>95% ) contract employees impacted with this brutal cuts. Contractors who started their job just 2 or 3 weeks before(just in August) also impacted for this. This is very frustrating situation for new joiners who resigned another job just recently for this great?? company. Bank of America management should be responsible for this situation. Did they not known about their revenue and expenses just 3 weeks before? If they are aware of these cuts, how come they let join new employees calmly? They deceived the contractors, especially who just joined couple weeks before. New contractors just stuck in this mess and in helpless situation. I want this to come as a big news and provide justice to victims. I wish we need to file a lawsuit on the BOA management.

Victims, please raise your voice >>>>>>>>>>

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Can anyone tell me any other names of affected contractors? I know Apex Systems, Collabera, TekSystems are among them.

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I wasn't even notified until Friday at 4:30. The consulting firm said they would know more by close of business Monday. My letter said 2 weeks furlough between now and sometime in November, rate reduction or both.

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In NC, you CAN claim unemployment but you must wait one week before payment kicks in. That means you are out one week, you get nothing. If you are out two weeks, you get one week of unemployment pay determined by the formula. Three weeks out, you get teo weeks pay and do on. The most NC will pay is around $350 a week and it is determined by the amount you have earned in the past year. The contracting companies are supposed to help you process this as it is called an "attached layoff".

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any other banks furlough and cut rate of consultant's pay?

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can unemployment be claimed for the days that are furloughed?

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Not just furloughs, but forced rate reductions for remaining contractors of 10%. Accept it by Monday or it is considered a resignation.

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