Thread regarding Bank of America layoffs

Did Cathy Bessant meet her expectation?

Did Cathy Bessant meet her expectation?

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- I can confirm 100% of what you said. I heard the exact same thing from 2 separate band 3 execs in private. They each told me the same thing independent of each other.

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who is Cathy?

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When it comes to layoffs --- there can be no 'honesty' about divulging information --- and truthfully, the bank is so big that people figure not all the information will be found out. However, TI has a 3-year plan to reduce FTE, so people there can't say she's holding back..... they just accelerated February 2016 reductions into December.

You are also right about the B3 resources, especially if they are labeled with Diversity categories. But do those people actually do the work?

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Lying SOS aside, and I agree wholeheartedly, I would expect she was an exceed/exceed this year for whacking a shitload of FTEs and tilting the balance towards India staff by several standard deviations. Expect more of the same in 2016. The only talent she really believes in is band 3 and above. Everyone else is a liability to her and can expect they are on short time.

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She's a lying sack of shit. Announced on 'all hands' call on 12/9/15 in response to a direct question, "There are no planned layoffs that we are keeping secret...." The very next morning a large group of people were severed. Also said, "...in every instance, we will look to retrain and redeploy people as it is our talent that is most important to the bank...." Two back to back lies. A respectable company would have waited until beginning of January to make cuts.

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