Bank Of America (BA Continuum) is shutting down operations in the Philippines

Hey guys, listen! This just in...

I got word about this yesterday when I went to BGC (Bonifacio Global City to some).  I crossed paths with a former agent of mine who is now (still) working at BA Continuum. BA Continuum is what's printed on his ID lace anyway but the mother company they are working for is Bank of America.  BA Continuum Philippines Inc. is a nonbank subsidiary of Bank of America that provides business processes, business support functions and IT enabled services.  The different LOBs or line of business include back office transactions, customer support and service functions, technology support and services, general human resource functions, business planning and general financial services.

Anyway, after exchanging pleasantries, he blurted out that BA Continuum will be shutting down totally by the end of this year.  Two LOBs had already been cut and his LOB will be the last to go (back office).  The reason that their bigwigs gave them was, and I quote, "we don't want to teach and transfer how we really do our business."  CRAP!  There's a reason why they're pulling out, I told my friend off and I believe that's not the B.S. that his company told them.  Teach and transfer!?  Effin' really??! C'mon!?

The good thing about what's happening though is that all the other financial companies within BGC, namely, Wells Fargo, Barclays, JP Morgan, etc are already lining up for the fallen precious headcount.  Everybody will get their severance/separation pay and they were all given additional goodbye blues benefit pay for sacking everyone.  It's also good to know that they are no longer required to come in on the last 30 days of their operations but will still get paid for it.  My friend who stayed there for the full 3 plus years will get more than a hundred thousand pesos by December.

Now, what I'm pretty sure about, come December is, my friend's Christmas is gonna' be way better than mine.

s and IT enabled services. This includes back-office operations and transactions, customer support and service functions, technology support and services, general human resource functions, business planning and general financial services. - See more at: http://careers.bankofamerica.com/asia-pacific/our-company#sthash.C06TtODS.dpuf

s and IT enabled services. This includes back-office operations and transactions, customer support and service functions, technology support and services, general human resource functions, business planning and general financial services. - See more at: http://careers.bankofamerica.com/asia-pacific/our-company#sthash.C06TtODS.dpuf