Possible Layoff at BofA?
Hi all, title says it all. Have contacts at BofA telling me their team's seniors are bringing up prospects of a layoff in March (obviously the execs/management haven't said anything and we juniors won't probably hear until it's too late if it actually happens). Has anyone heard anything similar?
I honestly would not be surprised if it were some other bank... But BofA hasn't laid off since at least 2H22, and their CEO's all that publicity campaign on sustainable growth and what-not I'm just not sure if they're going to walk back on it or what.
My two cents are that BofA's "no layoffs" policy will be thrown out of the window very soon. The firm already has a hiring freeze in place until the end of March (at least the London branch), but imho there are still too many overgrown desks with too many underworked/unproductive employees.
FTEs might be safe, but I wouldn't be surprised to see a good chunk of contractors getting canned.
What roles are you referring to when you say contractors?
People hiring through external contracting agencies to fill in analyst-level MO/BO positions
Haven't heard anything about layoffs but curious if others have
Bump
They're going to have to do something soon imo
Following
Haven’t heard anything from friends who work there. They work in the PWM area.
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