Bank of New York Mellon Corp. Layoffs

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Topics regarding layoffs at Bank of New York Mellon Corp.

Failure to manage, taekn out on the employee

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

Can somebody confirm layoffs are done for now?

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

Catching Fire

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

Ghosting

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.

Force Rank your Manager - quid pro quo

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

Recipe

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

Met expectations = Worth keeping

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

Integrity Problems at BNY Mellon

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

Definition Help

People keep using SUB and OP...Please define the acronyms and any others used on this board. Thanks

Ending Severance/SUB

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

Outside vendors

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

Refusing to be a victim

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

take action

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

A sinking ship

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

Layoffs

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.

Hunger Games

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!

BNYM Layoffs & Share Price Thoughts?

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

Out of curiosity

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.

Age/s-x discrimination

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

Who Moved Your Cheese?

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

Grant Building

What floor are they using in the Grant Building to perform these layoffs?

Any layoffs today?

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.

It's called the boneyard for a reason

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

Sub pay

What is everyone seeing for the maximum length of sub pay? Is it still max 52 weeks (2weeks for each year worked)?

401k plan?

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?

India layoffs

Any updates on layoffs at Bnym Tech India? Let's keep this thread as a place for updates.

Who decides who gets cut?

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

Sale to Goldman

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

Sale to JPM

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.

Engle is the worst!!

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

The falce sense of security

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

The Method of the layoffs?

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

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