I was told the Bank is purposefully underpaying. It's an HR strategy to clean house without having to have the bad PR of layoffs. Rumor or truth?

likehelpful
Posting as :
works at
You are currently posting as works at

Sounds legit. Trashy but legit

like

“Underpaying” isn’t a strategy - you would only be able to do this with new hires (who then wouldn’t be accepting the job) or by minimizing bonus/raises (which might make people move, but the primary reason would be cash conservation, an ancillary benefit would be people voluntarily leaving)

If they wanted people to quit, there are much more direct and effective ways of doing so

like

Indeed, like making them use MS [Teams|Windows]

like

Everyone at Bank of America there has been there for at least a decade, if not longer. Too many 🦕 roaming around, not adding value. The bank needs to clean up shop and hire more competitive talent.

like

Truth. I was at a company for the better part of 20 years, through multiple acquisitions. The first thing out of any recruiter or hiring manager was You'veBeenThereSoLongWhyAreYouLeaving? with an assumption of being stale, unable to adapt and freshen. When I broke that time into multiple jobs on my rez, those hassles stopped.

like

It’s probably true. Especially in this inflationary environment.

Related Posts

I was informed today that my employment would be terminated at a tier-2 consulting firm in Toronto. The reasons for my dismissal are unclear and I would like to get legal advice on the termination agreement and severance package that was offered. Has anyone experienced a similar situation and can refer a good employment lawyer?

like

I have a 25K loan from my MBA. I paid off 100k whole, after graduation. 3 years ago, I moved my loan from federal to private ( SOFI) account. I recently lost my job. I have applied for unemployment, as the severance that I received will only cover for 2 months. Together my husband and I used to make less than 250k after tax. Now, with a loss of pay , we are going to make less. Do you think I will be eligible for Loan forgiveness?

like

Has anyone dealt with being laid off early in your career? / have general uncertainty about your career path? Things aren’t going so well at my firm and it’s really impacting my mental health

like

When will be the next round of Digital Nexus layoffs in Montvale?

Any news on layoffs/recession in banking industry?

like

Any layoffs in the public sector? Specifically for those with TS/SCI and Polys.

like

Is PwC Advisory laying off people?PwC

like

I’ve been on the bench with J1 for about 3 months. I was worried that because I couldn’t find another project, I would get laid off so I found J2, which pays more, is very meeting heavy, but I really like. I’ve kept J1 because I’m still on the bench doing absolutely nothing and getting paid. Thinking about looking for a role on a project with J1 that’s not along my career path but will allow for me to do work with no calls so that I can manage both jobs. Does anyone have experience or advice?

like

Laid off and feeling too depressed to keep going. Have a month left on the website. I’m too depressed to be anxious at this point. Any kind words would be helpful

likehelpful

I have at least 4 foreign friends on visas who are leaving the US due to layoffs. Anyone else know a lot of people who are leaving? 😢

like

Brand Strategy/Planning roles aren't typical in PR. So every new Account hire arrives with no experience working with a Strategist. I'm tired of explaining/showing my role adds necessary value. I love strategy, but I have an offer at another agency to move into Account as Group SVP. They want to "customize" the role for my experience, but I'm afraid it will just be on paper and people will expect me to know things I just won't. I can't afford to be fired. Thoughts? Considerations? Watch-outs?

like

Hearing about layoffs across all offices of The Mill today. Anybody know what’s going on?

Is there a website that lists companies in either layoff or hiring freeze?

likefunny

I'm genuinely sorry to hear abt the layoffs at AirBnB and my heart goes out to your coworkers who are affected. How can a company approach restructuring in a way that is ethical?

likeuplifting
likehelpful

Hi everyone,

I was affected by layoffs about a month ago and urgently looking for a good immigration lawyer. The lawyer should be experienced in handling this 60 day grace period situation and developing alternate strategies - such as change of status to B1/B2 or applying to jobs from India. There is a lot of noise and wrong information going in the market so looking for good recommendations. 

I have very little time left for my grace period to end and need a consultation soon. Thanks

like

Have you guys ever fired a client? If yes, then why?

like

PwC layoffs news?

like

Novartis India recently fired 400 employees. I have read in an article. Is job security an issue at Novartis?

like

Hi, I am interviewing netcracker. EOY 10 years in UI development. HR is saying I will have to again give managerial technical round even though I had completed 2 tech round followed by HR round. Can anyone spread light in below areas
1. How's the WLB ?
2. How's the Job security - I have seen many reviews about frequent layoff
3. Is there really quarterly appraisal and hike ?

More Posts

I haven’t bought anything from them yet (so not advocating) but a NYT article today (on boots) mentioned a company that made vegan leather and related goods for shoes, backpacks, wallets etc. called Nae.

like

Hello Fishes,

I have an offer from EY LLP for kolkata location, I have few questions before I join.
1. What's the difference between EY GDS and LLP,
2. How is work life balance ?
3. How frequently they ask you to travel to client locations.

For me it's a domestic PSU bank project. I am looking for suggestions as I am completely from IT background.

like

How do I resize individual rows/columns inside a table without the whole table shrinking?

like

Hi all,

I received a mail mojin regarding interview. Will TCS hire through MOJIN for experienced? Can anyone please confirm?

like

I tell my students, 'When you get these jobs that you have been so brilliantly trained for, just remember that your real job is that if you are free, you need to free somebody else. If you have some..

likeuplifting

Best city in Asia?

like

Now that we’re at an ad, kristina schulman is one of the most beautiful girls i’ve seen on network tv

My room mate leaves his stuff all over the dinner table to the point I can’t even sit down to eat. A few nights ago, I stacked his things (unopened packages, mail, etc) neatly to give me more room and he got mad at me for moving his stuff. Now I stack everything I can as high as I can every night. I don’t see what the big deal is lol

like

Any job openings right now for Python developer at Tata Elxsi?

Where my SDR/BDRs at let’s go Q4!!!!! Let’s go!!!!

like

What’s considered a good copy supervisor salary?

This bowl is specifically for designers developers in consultancy

uplifting

Swingin’ like a 70s porn star.

How do you leave but leave in such a way that you’ll have a way back into the firm if needed? I have some great relationships. Tenure here is short, but family life has changed and I need to

like

Hi All,
I am working as "Engineer I" and have 3.9 YOE in manual and automation testing. I have knowledge in selenium using java, cypress with js, Api automation using Cypress, also learning Webdriver IO.

What is the CTC that I should be expecting with these skills if I decide to switch?
Current CTC is 8LPA fixed.

Please do let me know.
Thanks.

like

Accenture’s Clinical Innovation practice is hiring. DM me for a referral!

like

It’s Father’s Day, but my dad won’t speak to me.

like

Any fun bars to go to on Saturday night? Single M here

likefunny

I think my plants are experiencing new growth. And I haven’t killed them yet. Thanks for all your advices!

Post Photo
like

Has anyone got pushback when they put in their 2 weeks notice or is it usually chill and smooth? I want it to be an easy announcement.

like

Additional Posts in #OverheardAtWork

Overheard in an integration meeting: “yes, we have a prison strategy."

likefunny

Shared with me from a former colleague, when he spoke privately to our CD who calls the shots on all our web projects, (my area of expertise) he admitted to having "no new web knowledge since 1997."

likefunny

Starting Monday off with
“DO YOU EVEN KNOW WHO I AM??”

likefunny

"...likely goes without saying, but obviously we can't..."
– an account director

Translation: "I know it's not my place to say (and everyone knows it) and we'll really have to work hard to get this done (and everyone knows it). But I want to be on record as being against it before there's any whiff of complication or controversy—and before the client has an opportunity to be for or against anything."

Ah... teamwork.

likefunny

Are associate bankers at JPMorgan Chase and BMO currently starting between $25 - $28?

I need to leave the company I’m working for. The CEO is awful and half the corporate office has resigned in the 9 months I’ve been working there. I’m in final interview rounds with another company but how do I know I won’t be walking into the same situation again?

like

"You are paid to be a specialist in this area" - thanks coach...

likefunny

“What will the account think?”
“We’ll burn that bridge when we get to it.”

likefunny

How does Amazon ask for relocation back if you have signed the agreement with them and left the company before completion of the agreement? Do they send you an email on how to repay the money or they send a letter to your mailing address?
And this whole process takes how many days?

like

“I’m down for trick or treating, guys” -50 year old media planner with other planners around the same age. They’re having an actual serious conversation about which neighborhoods to hit up.

likefunnyuplifting

How is your company managing the current apocalypse?

Or do they act like everything is fine with business as usual?

like

"Everyone should go to a Jimmy Buffet concert at least once"

Nope.

likeupliftingfunny

Why are people not good at ending zoom calls? I feel like I’m always the person who throws in the closing statement (I.e, ok well sounds good is that all? Have a nice day! This was helpful thanks Karyn..looks like we’re at top of the hour already) 🤦🏻‍♀️

likefunny

“Is your mom on FB? I just found a sub-Reddit called ‘Old People On FB’ and it’s great.”

like

“I feel like I’m the stupidest person here”
“You are not stupid. You literally work at one of the top consulting firms in the world”
“I literally got a 6% in one exam during undergrad”
“Well damn I guess you are stupid”

likefunny

I’m way in over my head in my new job and I think I might be on the way out. What are some signs that you might be let go or transferred out?

likehelpful

Strategist, to clients:
"Those two ideas should make out and have a baby."

funnylike

Ortho sales reps look like they could be the next contestants on the Bachelor. 💀💀

likefunny