How does this company think they look with all these bs layoffs they keep doing and the turnover? Its not a flex. They look so bad and nobody should work here or do business with this place. Its awful
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@cf+1jgqh69jh Pi---s me off too but amazes me how people don’t realize it’s not because BNY is employee focused like they say; it’s because BNY knows they’re destroying our mental health because of their layoff and offshore nonsense.
@ce+1jgqh69jh if only BNY realized we don’t have more issues than we do because of the small amount of “oversight” that is left in the US. Been working with the same offshore team for over a decade now and even though it’s finally starting to click (something that happened with US college grads between 4-6 mos) they still don’t get it, and their managers understand even less. They don’t ask their direct managers for help at all! Some groups have constant expensive errors. I don’t get how clients tolerate it. Back in the day heads would roll. I guess they must be saving enough that they can have a who cares attitude now.
Oh well according to LinkedIn they are very employee focused and a great company to work for and care very much about mental health.
Boils my blood any time I see anything about BNY and "how great it is" when I know the truth
@a5+1
Lets think about it
- What anything new can be done in financial industry? Same old trading , same old custody. Nothing new, same old customer service and operations. Years and years of well oiled business model. Well oiled means more automation. And the bank is doing that and reducing the manpower
- New ventures (say into crypto and/or technology) are better done by smaller startups and bank invests in them than doing it in-house. They can acquire them or lose them. Less risk and more aggressive innovators
Wealth Management for example - there are so many small firms that work their a-s off to create a model and platform and willing to sell it to the big guys and walk. Trust me the bank cannot do that. None of the banks do that either. Even giants like Microsoft Google follow the same pattern with their deep pockets. BK is with deep pockets
We acquire and then provide service That is how bank acquired Pershing and also invests in few firms that are experimenting new technology.
And worker bees do not innovate. They do repeatable jobs. That is why they are shifting the work to low cost locations like India. Why pay triple the money for the same approval / workflow follow up to a US person than to an India based employee.
We integrate on technology. Take cloud as another example. It is easy to leave the expertise to Microsoft or Google than build our own infrastructure. Instead of building a CRM use Dynamics or Salesforce. Instead of our own security sets use Palo Alto. Whether it is expensive or not is a different calculation. The bean counters have justified that to the decision makers
Bank employees do not have to innovate. Sounds negative but that is the fact. If one believes that this is a place for innovation please rethink. There are a few people who sell that are snake-oil salemen/saleswomen. The so-called innovators are window dressing than real stuff. You are welcome to differ
Bank can falter only on one end. Not providing good operations and customer service. And they believe with automation they can take the human element out
This will get nasty responses and name calling. But the ground reality will not change.
Bottom line….
You are a loser if you stay here.
Only exceptions are: people in their late 50’s - early 60’s looking to cash out, people fresh out of college and … India low cost/ low self worth.
All the rest? You lose. Robin thinks you are nothing. This place is a tu-rd burger with mayo.
So…. The moral is: dont be a loser. Get out!
They fly under the radar knowing that the Media isn't going to report on their employment issues and practices. The outside world is oblivious as to what is going on.
All they care about is the stock price. If they really want to elevate the price they should get rid off all the MDs that rake in half mills as annuals + bonus and contribute barely to the revenue. The bank has reached an inverted triangle ( too many senior management) very little worker bees (mostly recent grads who can follow but don’t have any innovative ideas except mood swings n brain farts
Data breaches and abuses galore
All they care about is the stock price.