Bank of America will be rewarded for layoffs

[Jeffersons Ghost]

I just finished chatting with my friend, who was laid off at the Bank of America, after working her way up through the ranks for 17 years. She was in middle management and ran an award winning team for years. She worked long hours on the worst late night shift. When the bank hires someone to replace her - at lower - pay, they'll get economically rewarded by the recently passed HIRE act.

She said she wasn't in the "click" at work, because she asked too many questions. A "yes man" on the day shift will have a double his work load, managing her team, until she is replaced.

It's harder for old people, about to retire, to find work.

Many older people still want to work, but businesses tend to hire younger people. It's a form of legal discrimination.

Raising the retirement age at social security makes it even tougher on older people that have worked their entire lives. I guess big corporations will just throw them out into the streets to die.

She was so dedicated at work that she never raised a family. She has no children to help her out in her golden years.

[Donnachaidh]

1. Banks have always been shitholes to work for - doubly so for women

I worked for the Bank of New York years ago, and I found a way out by changing careers. I could see that I would be leapfrogged over, even if I had more skills, by men. My mother had worked for B of A years before that, and had the same thing happen to her.

They are only interested in themselves. And it's worse now, because they have become invincible, thanks to our government.

[Jeffersons Ghost]

3. If anyone has ideas or condolences to post, she'll be back online later and I'll send her a link

[Donnachaidh]

14. immediate advice -- sign up with every GOOD temp agency out there

If she's older and wants to keep working till a full time position happens, she should use the skills she has now to keep going. In a good economy I was able to play one temp agency against the next, looking for better gigs. Companies in my area are using temp agencies to keep from hiring full time workers. But if she has skills, she should still be able to find work that way.

[dixiegrrrrl]

18. Oh, she was "Just" laid off?

Recently?
I did not catch that from your post.

Can she take early retirement, or.............?

[Angry Dragon]

2. One bright spot

Her children would have it much worse than she
if things continue as they are
Just one less worry for her

[Jeffersons Ghost]

17. you got that right. it's tough on young people too

[msongs]

4. meanwhile top management gets huge bonusses even thought their business decline nt

[Ilsa]

8. People need to be calling reporters, writing LTTEs to make this known with a

recommendation: take your $ out of BoA.

Slimeball corporation.

[Jeffersons Ghost]

16. yep, that's what REALLY sux.

[Gormy Cuss]

5. B of A needs to HIRE people rather than lay them off.

That bank can't do anything in a timely manner these days.

eta: for your friend: Sorry that your employer dumped you like that. It always sucks to find out that loyalty works only one way in some companies.

[Jeffersons Ghost]

9. I'll let her know how you and EVERYONE who posts know how they feel...

by posting a link to this opening post. Try to give her some ideas about how to find another job too. Are any of you hiring dedicated workers?

[Ilsa]

6. What a horribly sad story. My best wishes go out to your friend.

I've seen this happening since mid-1990's. She'll need to remove some of her earliest work experiences and references to her age on her résumé, unfortunately as she applies for jobs.

It figures: the "yes-man" suck-up is still safe. I bet he ends up working at least half of her job in addition to his eventually.

I can remember years ago, telling a coworker, that I'd consider taking a good bonus in lieu of a pay raise for a few years because of this nasty business of laying off higher salaried, middle-aged or older workers. I'd rather be "invisible" in the work pool. Being an aggressive and ambitious man, he disagreed, of course. I was looking for safety, he was looking for more rapid advancement.

[Jeffersons Ghost]

21. High "visibility" is sometimes very important

[glinda]

7. This is another sad story. Have her join DU for at least some emotional

support.

[proud2BlibKansan]

10. This is what happens when we don't have unions and fair contracts.

The workers in this country need to revolt.

[iamjoy]

11. Children Aren't Really Relevant

children are a tremendous expense. If she was smart and saved that money she wasn't spending on braces, childrens' clothes, field trips, college, etc not having had kids should be to her financial benefit.

Maybe if she'd had a child that kid would be graduating college now and unable to find a good job or be in a position to help her. Then they'd have all the debts of education and no well paying job for either of them.

Financially speaking I think she'd be worse off if she'd had kids.

Of course, it's just a terrible insult to a woman who devoted her life to her company to be tossed aside so callously. And it doesn't change the feeling of isolation and having no where to turn. It's like being dumped after years of marriage so the guy can get a trophy wife.

[AnneD]

12. I have always followed the philosophy that one....

works to live, not live to work.

One of my friends said that I would never retire because I loved my job and am always working. I told her she just didn't really know me. Once I hung up these Nursing shoe, that is it. I have a pension with health benefits. I worked hard to provide for my daughter and my retirement.

I suggest your friend batten down the financial hatch. But during this time read What colour is your parachute and 90 Days to the Job You Love. She need to do some introspection and find another path. It is not an answer but it is a start.

[WolverineDG]

13. BoA sucks

I look forward to the day when I no longer have to give them money. The money-grubbing fuckers can choke for all I care.

Sorry about your friend though. Looks like BoA treats its employees just like it treats its hostages customers.

dg

[intheozone]

15. The Hire Act can come into play only if your friend left voluntarily or

was let go for cause. Under the Hire Act, employers cannot just let an existing worker go for no reason and then hire anew replacement worker and take advantage of the Hire Act for the replacement worker. Employers can use the Hire Act only for new hires to fill newly created positions or to replace a worker that left voluntarily or for cause. That's the law.

Still sucks for your friend though, I've seen the same thing happen many times. I hope she can find something even better than what she had.

[Jeffersons Ghost]

19. she was working on commission. now they can hire someone at a meager salary to do the same job...

Saves money for the bank and complies with HIRE criteria.

[dixiegrrrrl]

20. Does that apply to "right to work " states, where they can fire you for NO cause?

I am willing to bet there is a giant loophole for those states.
I live in one of them, btw.
In my field, they did not abruptly fire you, tho they could have.
They "let it be known" you were no longer wanted, for whatever reason, which often had nothing to do with your job performance. Then you were demoted or assigned to some far off office, given 3 people's work to do within impossible time limits, etc.
People got the hint and left, usually ( at that time a few years ago) having lined up another job first.

More recently I know people at the same place who have worked there for years, now in their late 50's, who were
openly "let go" and were replaced by younger people at much low salary.
And this is a large non-profit.