I was left swinging in my department. I had offshore colleagues who were rigid in their ownership of their specific jobs, unable to adapt, and wouldn't include me, wouldn't ask for help even if they needed it. My manager was logged in from morning... read more
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Topics regarding layoffs at Bank of New York Mellon Corp.
This has not been a fun weekend for me. I keep wondering and worrying if there will be more layoffs next week, or the one after. I'm trying to figure out if there has been any official info on whether layoffs are done for now or if we can expect more... read more
Decades of complacency, safety, and ossification, acting like it's the 1960s and BNYM can just sit around, be the plumbing and custodians and collect fees. The grasshoppers fiddled all day, thinking all was well, as the world left them behind. The... read more
Those still employed should feel no guilt ghosting BNYM for a better opportunity when it comes along based on how the company is treating it's workers. Say goodbye by simply disappearing.
The upward management feedback survey will be coming soon. For those that remain, but were perhaps dropped from Exceeds rating to Meets Expectations, it's time to force rank your direct manager lower than you would have previously. It's anonymous... read more
Consolidate departments. Eliminate redundancies. Staff people with the competencies to implement your plan. Eliminate obstacles, the incompetent, and naysayers. Recover resources. Sell excess for capital. Eliminate waste and overhead. Improve... read more
I think a lot of people are confused by the semantics of the new merit reviews. The words are the same, but the definitions changed. You have 5 people. Only 4 can meet expectations. 1 will fall below, and get voted off the island. The choice, Mr... read more
Once you've signed to take the SUB package deal, you have absolutely no recourse legally. If in doubt, talk with a lawyer to review the language in the SUB package BEFORE signing. It will cost you approximately $200 for the lawyer to review and... read more
Ethics and morality have no place at BNY Mellon. It's all about exploiting employees, finding loopholes in the law, smoke-and-mirrors record keeping, etc. They have admitted to fraud on numerous occasions, and once accepted a fine of 970 million... read more
People keep using SUB and OP...Please define the acronyms and any others used on this board. Thanks
Many people are talking about the company ending SUB by the end of the year but I don’t understand the benefit of doing this. The cost is recouped within a year and it doesn’t seem worth the bad PR they would cop. Plus, the documents signed to accept... read more
Work for Global Tax area. Hearing a lot about moving work to outside vendors to streamline processes. Basically means Outsourcing work , then layoffs. The only way this company can improve the balance sheet is to eliminate positions. This was the... read more
I was one of those who got the dreaded "BE". I could choose to be a victim, blame the system, my manager, the world....(where does it stop?). The fact is I got it, and the moment I feel like a 'victim', I become helpless. I choose to work harder... read more
A lot of people got fired and it will continue the next weeks and months. No proper assessment has been made for the lay off. It was just a hasty selfish decision driven by egocentric managers for their own short term profits. Most of the senior... read more
It is starting back up in Pittsburgh Tuesday, after MLK holiday, according to specific conference rooms blocked by HR from 7am-6pm Tues-Fri.
BNY Mellon is just going to get smaller and smaller. They will see temporary benefits from layoffs and pitting people against each other. But that will pass, and they will be left with the reality that they simply don't know how to make their IT... read more
Anyone in the Dallas document custody office been effected by these layoffs? I work in Pittsburgh document custody and was told not to worry. I have been down the layoff too many times and know what look for.
Why does it feel like I'm in the hunger games when I look at my coworkers now with these recent cuts and the whole new "rank and yank" system? May the odds forever be in MY favor!
Today the stock market as a whole had a good day. BK has been down over the last few months, today it's up around $52.90 which is +. I wonder if towards the middle/end of next week after more layoffs come, if this will have any impact on share price... read more
How many folks laid off directly solicited client business or created new product? Was wondering if this round of layoffs only hit overhead or were also aimed at improving development and revenue generation efficiency too.
Regardless of what you are asked to sign, I’m sure laid off employees could sue if there is good cause. It seems that the war on working from home disproportionally affects female working mothers. The people being let go also seem to be older (and... read more
"Construction people were seen installing signs that read "Work Sets You Free" at multiple BNY Mellon offices this week. Rumors of employees standing in lines, being directed 'left' or 'right' based on age, salary level, or 'perceived value' (or... read more
Who Moved My Cheese? is a 1998 self-help novel by Spencer Johnson. An allegory for dealing with motivation in the business world, it outlines different changes that happen in an individual’s personal and work lives. It frames these narratives of... read more
What floor are they using in the Grant Building to perform these layoffs?
It all looks quiet at my location, except that sense of fear and stress that you can't hide. Was anyone affected today? If anyone has any info please post.
Sorry guys, but I don't think any of this should have come as a surprise. Bony has been unable to hold on to talent (front and back office alike) for the exact reason that the layoffs are happening - a culture of complacency and mediocrity... read more
What is everyone seeing for the maximum length of sub pay? Is it still max 52 weeks (2weeks for each year worked)?
Everyone here has used the adjective dinosaur in association with BNYM, right? You know you have, even if it was before you became one yourself.
Manager's have zero control over this. The manager's manager has zero control, the manager's managers, manager's manager has zero control. Whew! that was a mouthful! This is being driven by robots who sit above the heads of the various divisions in... read more
This might have been answered before, but I can't find it, so I figured I'd ask. What happens to our 401k after layoff? Especially for those who have been with the company for under five years?
Any updates on layoffs at Bnym Tech India? Let's keep this thread as a place for updates.
Can people please post here as layoffs start to happen, so we have it in once place what's going on? Good luck, all.
Why are we losing some of our most experienced and most knowledgeable employees? No matter how incompetent some of the managers at BNYM are, I doubt they would cut their best workers on purpose, if nothing else because they make them look good. So if... read more
I don't want to be taken like I;m cheer leading for the company or defending the cause I’m not, but my thoughts are that there was no big plot or even any special effort to cover up the layoffs. This is a sad thing and a good example of the society... read more
I see below someone is speculating about a sale to JPM, but the following article ignited some speculation in the office about a sale to Goldman... https://www.nytimes.com/2018/02/14/business/dealbook/goldman-sachs-mellon.amp.html
Where is this rumor coming from and is there any basis in reality? I know Charlie has brought a lot of people over from JPM, but he spent many years there and might just be bringing over his former colleagues and people he knows.
Rules by fear. No one respects her except those who have followed her from Lehman to BoA to BNY who she rewards with the big bucks but are equally as clueless. She can't stand on her own two feet. There is no path forward in technology. She needs to... read more
Let's be realistic, most of us had a lot of complaints about working at BNYM, and we all stayed at the company for the solid pay it provided and for the bennefits. We all delt eather with uniterasted clueless management or with dinosaur bosses stuck... read more
I can't seem to figure out what method did they use when performing these layoff. From what I hear and see on this board people from all around the company say they’ 've been cut. Does anyone know what departments were affected the most and was there... read more