Will BofA lay-off?
Seems a lot of banks are laying off. Not sure anything has happened at BofA. Any thoughts?
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you're smart enough to figure this one out chief
Lol they said no lay-offs. Suppose you can't really trust lip service so expect the worst I guess...
Do you happen to work at BofA US/UK by any chance? Just wanted to know what the group mood is like within the M&A/Cap Markets team
Cap markets is completely dead this year... so not a great mood.
Tbh this still sounds 100x better than having your entry access disabled one fine morning
Did that actually happen at GS? Seems like there wasn't a consensus about whether or not that was true
Any chance they pull return offers from last summer?
Does "giving notice for people to change job locations" happen often? Does it entail being forced to move to a worse city or is the relocation pretty random
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This does in fact. Sometimes it's genuine and leads to attrition and sometimes it's just a nicer way to fire people.
My current manager, who is based in London, was previously at GS. Her team was "called to NY HQ" and with everyone being from London, obviously nobody ended up moving to NY. In her case, it was effectively an easier way to fire everyone who they needed to fire.
BofA has historically been anti-bad “headline”. They do not want their name on the front page of the WSJ in any negative light. Far more risk averse in that manner than most other BBs.
Expectation is offensively-low bonuses, layoffs under the premise of ‘performance’ (along with lower SA return offer rate, lower A2A, A2VP, etc. conversion), and likely a lot of managers saying “we don’t need you on the IB team, we will keep you employed as a corporate banker”.
Sure fire ways to reduce headcount in a soft fashion.
“yay i am safe from layoffs because someone from WSO told me so”
This is a place for conversation. Just speculating.
Bofa and JPM will likely track each other, correct?
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