Now that BNYM said no more layoffs. Everybody is absolutely terrified with all this COVID-19 stuff happening. Better to keep the lousy job I've got now than to speak up about anything and risk it all. In the world of BNYM, closed mouths really do get fed. This economy is gonna tank so there's no way ill ever get a better job than this, not anymore. Guess I better learn to s— it up and be thankful I still have a paycheck.
11 replies (most recent on top)
Don’t believe it. Heard of several separations this month. Were they fired? Forced into retirement? Laid off? No idea. Just know they’re gone.
@Tired
I thought I heard BE was off the table this year. Everyone is to be rated on track or off track only.
Since I already see my name on the wall and with reviews coming up and they said they still need to do BE, All I know is I’m not going back to the office. BE to me = power.
They are b–ching about the overtime. Main topic of discussion. Seems like they are regretting no layoff 2020.
Life at BNY hasn’t been better then ever honestly.
- so any plans for the weekend?
My advice is to not sit back idly waiting for the inevitable layoff. Actively search for new work, even in this shriveled economy companies are hiring. Keeping your mouth shut is always a good policy within BNY because the culture punishes those that step out of line, but that doesn't mean you have to stay there waiting for the hammer to hit you.
@1kpx+14WW3bUf - I already woke up one morning and saw a much older, outdated and overweight person in the mirror. I was cleaning out my closet and found some old IBM punch cards.
Agreed with all posters. I am using the time to evaluate other skills I have in order to succeed. In financial services, I expect more and more layoffs from all, not just BNY. This event is already accelerated plans involving AI, real estate footprints, and the like.
You are wrong in the sense that this is the time to have informational interviews and build your network. I have reached out to 4 orgs that are growing and have done calls with 3 of them. These are cold-intro emails so a huge hit rate because they know there is no pressure for you to find a job. The will be calling me if there are any opportunities in the future and at worst I’ve gained a connection.
Take this as a gift to plan your next steps. Being in a finance company that doesn’t grow is a death sentence. Find companies that are generating their own opportunities and you’ll be better off and at worst you’ll be in the same position.
Best to create your own job and be able to depend on yourself for a living! Not these corporate nimrods! For those of you reading this that are in your 20's and 30's, that's what you have to do! Yes its hard. But nothing worth while is easy. BNY Mellon isn't easy AND its not worthwhile - so focus on you and your future! As for the state of the economy, remember that some of the greatest opportunities are had during hard times. If you're looking at a real opportunity, get the help you need and find out how to get started! Don't let it get away from you! You'll regret not pursuing your dreams! Before you know it, you'll wake up one morning and see a much older person in the mirror! Time is a wasting....now get to it! That's my pep talk for today!
Folks,
If you think there won't be any RIFs between now and the end of the year, you are sadly mistaken.
It won't be anything on a grand scale so it doesn't reach a threshold that will attract media attention.
This has been the operating model of BNYM for several years now.
Every year for the past several I've had to execute RIFs spread out over 3 months within the year.
There will be RIFs in Q3 and Q4 despite what you may have heard. These RIFs won't be in the thousands, but will be in the hundreds and will fall under the media radar just like the RIFs of the past 6 years.
Me too. Sometimes it takes a crisis like this to make one value what they have. About anythingmelse, time will tell...