Thread regarding Bank of America layoffs

Operational Excellence Path to Layoffs?

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 "create a smoother customer experience removing barriers of inefficiency". The undertone and unspoken message is that similar functions that are currently segmented will be combined and duplication will be eliminated. Roles that currently only support one product or program will be scaled down and consolidated across business areas. One example given was a Project Manager who supports underwriting or training for small business, may in the future support UW or training across small business, mortgage, card, etc. The same strategy supposedly will be carried out throughout business development, marketing, call centers, risk, compliance, technology -- everywhere. The nickname for the work has been Project SIM 2.0. Anyone heard about this?

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Always good to start with GTO, where duplicate and even projects in triplicate do the same functions but are being supported by their own developers and overseas support teams from NYC to Canada, the UK, and India. The overlap is mind boggling.

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Albany working from home.

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In JAX we get to work from home. Operational Excellence

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this has been something that has been going on year over year for many years now, the problem, is that any CHANGE is always derailed because of leadership changes that ocur every 2 years or so within the LOB, I know my team went through operational efficiencies and attempts like this, but always were derailed or no traction due to leaders changing and therefore not supporting or having a different agenda

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Always Operational Excellence in Albany NY when we get to work from home

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Sounds like the GTO approach to shared services which was a colossal failure after 2 years and is being dismantled.

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OE is something we have given lip service to for years. Given org changes over the last 3 years I'm not surprised by what is described. And think it will lead to layoffs that seems to be our main revenue strategy

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OE is the latest thing many large companies are embracing. It is not really intended to cause layoffs.

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