Bank of New York Mellon Corp. Layoffs

Topics regarding layoffs at Bank of New York Mellon Corp.

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 

BNY Mellon WFH is a total Joke

Most BNY Mellon employees have no clue how to utilize work from home properly. They all view work from home as a convenient way to avoid working altogether. They are enabled by a completely inept tech support dept that is totally clueless how to... —  read more 

VOYA so-called 'professional investment advisors'

I mentioned this in another post but I think this warrants its own discussion thread. With the current crash, I feel fully vindicated by rejecting the constant mail and email from the bank and Voya suggesting we enlist their 'professional advisory... —  read more 

No corporate bailouts for the banks

BNY Mellon better not dare ask for any bailout money. If the bank starts hurting for money than the executives and senior leadership should sell stock to raise cash. If BNY Mellon needs to die, then let it die! No bailout money! Let BNY Mellons... —  read more 

BYNM CoronaVirus

What's your thoughts on possible impacts on us? From the business standpoint.

WFH for next two weeks

Who else is working from home for the next two weeks? I arrived at the office this morning only to find out I was selected to WFH. The email came out at 9:30PM last night. Why so late?? I’m not working then and I don’t have BNY email on my phone. ... —  read more 

Closing

Word is that BNY, Northpointe location is closing this year. Many people are being let go. My last day is Friday. Picked up a new job when I saw the writing on the wall.

Sinking ship

I keep hearing automation is the reason for job cuts but from what I see, much of the automation isn’t working BUT mgt already made the cuts so many areas are working long days ..... trying to get their bread crumb & hoping it keeps their name of... —  read more 

Stock Market Circuit Breaker Reminder

While you were out having fun over the weekend, Vladimir Putin started a price war in the oil markets that's gonna become a bigger problem than the Coronavirus outbreak. So put on your seat belts, its gonna be another wild week for all you... —  read more 

Greenfield ha ha

Greenfield project is a joke, if you worked or working BNY Greenfield project and you think you know what’s greenfield is, and try tell people , they will take it as a joke. Be careful those who were laid off and looking for cloud based roles. Make... —  read more 

Managers Whispering Behind Closed Doors

I’m hearing from several senior managers that with all the recent cuts, they don’t have adequate support for some of their applications. Experienced senior team members are being cut and the remaining staff are struggling. Some managers stated... —  read more 

Significant brain drain

Over the past 3 months a number of employees of all levels with significant experience have been laid off. This has resulted not only in a significant reduction of experienced, knowledgable people it also makes it much more difficult to get work... —  read more 

Layoffs pgh

10 confirmed that I personally know were laid off so far this week in pgh

Asset Servicing/AIS Ops Merger?

Has anyone heard anything about this? Seems there are some talks going on about this merger happening which will of course create job “redundancy”.

Lay-off Impact

With all the layoffs over the last several months and the loss of thousands of long term knowledgeable employees, how has this affected you and your department?

Webcast

I guess all the lay-off questions were filtered out of today’s webcast with Todd. Only one close was asking about why the severance package is spread out. Todd answered it because Jolen wasn’t there. Didn’t allude to layoffs or apologized just... —  read more 

Brooklyn Layoffs Happening

Yesterday & today (03/02-03) there have been layoffs. I've heard it's mostly on 9 in ETF but also some on 12 in UIT. Every time you turn around...

Reality check!

We’ve read the warnings and rumors. So now, what has really happened?

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