I have seen a plan stop 401k match, but to see them openly advise they plan to use some of the savings to fund AI investment is wild.
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Hi fishes! I had asked for benefits other than CTC which Bank of America provides & now that I've completed 1 month here, here's the list of allowances you'll be getting irrespective of position/band:
1. Sodexo: 1300 p.m./ 15,600 p.a.
2. Transport allowance: 900 one way, 1800 two ways p.m./ 21,600 p.a.
3. Internet: 1500 max p.m. (other than that, one time installation charges)
4. Tuition fee: Any certification related to your field. Like CFA, FRM etc. 3,00,000 p.a.
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Any layoff expected in bny ?
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I hope they decide to give employees company shares in lieu of this change. Just because something is “discretionary” doesn’t mean people don’t expect it when it’s been given annually. Yes, they will feel something is taken from them when affordability is at an all time low. I understand that they want to compete with the larger tech companies. But if this doesn’t turn into a bigger bonus or stock increase (that ee’s have an investment in) it may backfire.
This is wild, but I wonder what other benefits they are preserving as a result of this or what the company match terms are -- it's nice click bait but I wonder what's really behind it and if it's really a big deal.
As you read deeper into the story, Deloitte”s removal of IVF benefits, parental leave, PTO and pension solely for the administrative departments I find a lot more disturbing. It shows blatant inequality within the business. HR, Finance and IT may not be the money generating branches of a business. But, let’s see how well a business operates without these departments. Not a great way to attract and retain people!
Yes true
Pro
That feels like a tough message to land. I get investing in the future, but linking it to taking away benefits feels like the wrong signal to employees.