© 2021 WFAE
90.7 Charlotte 93.7 Southern Pines 90.3 Hickory 106.1 Laurinburg
Play Live Radio
Next Up:
Available On Air Stations
Local News

BofA workers in limbo and the dark about layoffs

In December, Bank of America said it would lay off 35,000 workers over the next three years. It's still unclear how many will affect Charlotte workers, but dozens of BofA employees have already lost their jobs in a series of small layoffs that often come as a surprise to others at the bank. Bank of America has not confirmed an official count of the workers it's laid off in the last few months, but many employees say they feel like the ax could fall their way any day. To relieve stress, they smoke on the sidewalk and huddle with coworkers during lunch restaurants along Tryon Street. They're reluctant to speak publicly about the jobs cuts because they don't want to end up a casualty of the next wave. What's more, they say they never know when to expect the next wave . . . often learning about new cuts from the office grapevine or the evening news: "I mean I've seen people that have been walked out who were perfectly great employees and did a lot for the bank," says one BofA employee. "So we're just kinda living in a little state of gray, right now." "You know, the bank is so huge, you never know unless it's in your department," adds another BofA worker. "And we're scattered all over Charlotte, so you just don't know. "Inside our bank, I feel like we're on a need to know basis," remarks a third. "They're telling us stuff kind of haphazardly after the fact. I think everybody's on a need-to-know, and right now I guess we don't need to know." And there's no indication they will know more anytime soon. Federal laws require companies to give the government two-months notice of mass cuts it plans to make in a 30-day period. However, most of the cuts at Bank of America have so far come 10 or 20 at a time and don't meet the threshold required for a federal report.