Bank of New York Mellon Corp. Layoffs

Topics regarding layoffs at Bank of New York Mellon Corp.

Spans and layers under Chainsaw Charlie Scharf

Wells Fargo hired Charlie Scharf and he Is about to kick off his spans and layers reduction in Q3 2020. I have 6 direct reports, but I am hearing managers are supposed to have 7. From your experience (I know he cut spans when he was CEO at BNY)... —  read more 

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Welcome Daron Pearce

Welcome to the oldest bank in the country. Have a great time working from home.

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What a crooked organization (Whistleblower Results).

I really hope they go bankrupt and all the horrible so called leaders experience the pain they have caused so many devoted workers who were shown the door. Bonus Watch ’20: BNY Mellon Whistleblower Gets His $5 Million—Plus $45 Million

Volunteer Layoffs?

So the bank is not laying anyone off supposedly this year. I wonder if they’ll offer buyouts or volunteer layoffs. If so, I’d sign up. A lot of people are fearful of being laid off and I totally get that, but I bet people would volunteer to be... —  read more 

New work space design vs social distancing

Not much opportunity to socially distance with the new and expensive floor designs at Greenwich St. Those designs so tight with no privacy on floors like 4, and 19 didn’t really encourage or support a true work environment. Now they’re probably... —  read more 

ER Discretionary Discretionary Contribution?

I checked my 401k balance today and I have a $2345.76 “ER Discretionary Contribution” in by balance. It isn’t vested, though. Does anyone have an idea of what this is? Also why isn’t it vested?

Waiting to sell BK stock

I'm on of those who were let go last year and am looking for the right time to sell BK stock. I even participated in the ESPP. While checking out Fidelity, data in the report PROVIDED BY MSCI ESG RESEARCH AS OF 05/12/2020 Methodology doesn't seem... —  read more 

Are managers necessary now?

What do managers do now? Are they home helping out with the kids? Making dinner? Enjoying fresh spring air? I haven’t heard from my manager in forever...not that I really did before. But now that black hole is bigger. What do managers do? For... —  read more 

Plans

Ideas on how 2021 plans could look?

Corona Virus changes work model

"This shows how the world is going to change and everyone else will do the same.Demand for office space will drop massively, transportation, traffic and pollution would reduce massively. People will save massive travel time.Office politics will... —  read more 

New BNYM lawsuit filed.

Trader sues BNYM for ageism. We all know it’s the truth. Wish him much luck. Hope he gets every penny of that $16million.

Remote working !

Other financial/non financial institutions have started adopting the remote working culture .I am sure BNY would take a longer time to adapt to this new normal . Are they going to break the 220+year old legacy and start working remotely to... —  read more 

awfully quiet on here lately

Not a peep ever since "no more layoffs" was announced. It just goes to show you that BNY Mellon's culture is driven by the constant fear and threat of layoffs. Every day the average BNY Mellon employee fears loosing his or her job. Now with all... —  read more 

Lester Owens resignation

So is the resignation of Lester Owens as Operations Director a sign of the purging of the JP Morgan people Charlie Scharf brought over? Or is Lester just following Charlie over to Wells Fargo?

Don’t be blinded by no layoffs 2020

They’ve committed to no layoffs in 2020 but do you really think they wouldn’t seek alternative ways to get rid of people. If you sign checklists or if you done any voting type things in terms of your process, you don’t think they would resort to... —  read more 

Communication

How is everyone feeling in terms of communication? Has it improved, gotten worse or stayed the same at team, division or company level? Do you feel talked at or talked to? Do you feel valued or not? Do you feel like you are in the know or left... —  read more 

COVID-19 Death

One of my fellow worker dies last Friday because of COVID-19. He used to work in NYC 240G office. Not even a single communication or condolences from the hierarchy of CIOs (4 of them for this department) and our CEO. No value for human life ? I... —  read more 

Worst technology ive ever seen at a company.

Unbelievable how bad the technology is at this company. Absolutely abysmal. When you work for BNYM and you look at the microscopic details regarding how technology is deployed and implemented, you quickly begin to understand the magnitude of the... —  read more 

Wow! No layoffs 2020

What a welcome move by a great leader. Let’s get on with our lives and provide great service to clients in THEIR time of need!

Insight

You know what is interesting? Insight. Being home you get to listen into your partners meetings, the culture of their company beyond what you've been told. For me, it's pure validation that the culture is very poor here.

First order of business for Todd

Take the pledge not to lay anyone off during this national crisis. The government is bending over backwards to support businesses so that people don’t loose their jobs. Do the right thing and protect jobs.

Todd Gibbons

https://apple.news/ATHTVaVYMRxaG89ooupDqeg Folks, Meet the new boss... Same as the old boss... Nothing has changed at BNYM and nothing will. This is not a company that wants to move forward.

The real reason BNYM will not layoff this year

As part of the economic relief package that was approved there is an opportunity for BNYM to accept the "employee retention” tax credit that's estimated to provide $50 billion to companies who retain employees on payroll and cover 50% of workers'... —  read more 

Fun fact mentioned online earlier today

Isn't it weird that people living paycheck to paycheck are supposed to have months worth of savings for emergencies while billion dollar corporations are so poorly managed that they're on the brink of bankruptcy after a week of reduced profits??

India offices

Hearing the India offices are to be closed based on country wide lockdown just announced?

July merit increases canceled

The EC has decided to cancel the planned merit increases (based on 2019 performance) due to challenging market conditions. With AUM now down 30% over the last month this decision was made in lieu of further layoffs. Message is currently only... —  read more 

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