For us, people always come first — whether that's our employees, community members or our clients. So for clients, that means providing access to the important services they use every day and being there to help those who are impacted by coronavirus.
Last week, for example, we announced additional support for our 66 million consumer and small business clients to help mitigate hardships during this time. From deferring payments on small business or auto loans, mortgages and home equity to pausing all foreclosure sales, evictions and repossessions.
Now that the new legislation has passed, once the rules are written, we will also work to implement the small business lending program. Recognizing that we serve and are a member of a broader global community, we need to work together — both public and private sectors — to devote the necessary resources and support to help clients and small businesses experiencing financial hardship during this unprecedented time.
Bank of America has always been very community-minded. Are you currently introducing any programs to help communities or small businesses that are straining under the impact of COVID? The majority of these funds will be distributed on the ground in local communities, focused on both immediate needs facing communities and providing ongoing support in the months ahead.
Our in-market teams across the U. We're also increasing funding to several national and global organizations who are on the front lines, tackling the most pressing issues in neighborhoods around the world. More from At Work: 5 actions freelancers should take to protect against crises like COVID This could be worst job market for new college grads since financial crisis Coronavirus poses a new threat to gig economy workers.
Also, with widespread elementary and secondary school closures, one of the most pressing issues is ensuring that hundreds of millions of students can continue to learn over the weeks and months ahead. To address this need, we expanded our partnership with the Khan Academy. This education nonprofit has been a partner of ours for eight years and has a bold vision for closing the education gap and advancing learning through this period of disruption.
Importantly, they have a track record of getting things done. In times like these, the private sector has a responsibility to help bring this type of innovation to scale quickly, which is why we are supporting the Academy to help scale up their learning programs to provide free, interactive learning materials for students, and tools for teachers and parents while schools are closed.
In what way do you believe these programs will help Bank of America grow responsibly? Core to our business is what we call "responsible growth," which shapes all we do as a company. As a global bank, we deploy capital that helps drive change and solves some of society's biggest challenges — including the most pressing one the world is facing today: coronavirus. Our focus on responsible growth enables us to help make financial lives better for our clients and employees; and while we focus on growth, we are doing so in a way that centers on our clients' needs, fits within our risk appetite and is sustainable.
This last piece — growing sustainably — is especially important because it involves driving operational excellence, being a great place to work for our teammates and sharing our success with the communities we serve. CNBC has reported that it will take at least six months for businesses to get back up and running normally again after the pandemic ends. Any managers in here that have entered bonus numbers yet? Curious what the YOY change was in bonus pool.
Please list your general area too as I think different areas have different targets. Has anyone that just updated their info for the November deadline gotten a return to office date yet? I keep wondering when I will get the email to come back in. If anyone has any ideas please share Those who think that BofA will ever hear the voice of employees, that they will pay attention to our wishes and complaints - I think live in illusion.
We are What area is the most inefficient and cost drag on BAC. I want the situation to go back to normal whatever the outcome. I want to know what is and what isn't happening and move on. I miss the days when layoffs were the only thing we had I honestly thought things would change after the pandemic. The work from home makes so much sense and it was proven that it increases productivity while reducing costs no need for as much office space.
I thought for sure the majority of companies Sharing a personal anecdote After 12 years, I finally got to send out my paying goodbye to colleagues across the enterprise. They claim to have been at company 20 plus years. How are we to feel safe when these mentally ill employees are Someone has already asked in one of the posts but there was no answer, so since I am interested too, I am opening a new thread: Does anyone know what will happen to those who got two doses a long time ago almost half a year ago , but still would not New date to be fully vaccinated is January 4, Taking over a BACI app in production I will understand if I get downvotes, but I do not agree with some who say that the bank sets unrealistic expectations.
On the other Is there a notice period to retire under the rule of 60? Bank of America CEO Brian Moynihan said his bank's ,plus employees won't have to worry about layoffs this year, joining banks including Morgan Stanley and Citigroup in making similar pledges. No layoffs, no nothing. The moves come as the industry faces a rising tide of loan defaults as wide swaths of the U.
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