Thread regarding Bank of New York Mellon Corp. layoffs

Hood’s Meeting- Sickening - Ranking & Promotions

Anyone attend this mornings meeting? Hood and the HR rep discussed the performance reviews and the ratings. He emphasized that 10% of staff MUST be rated Below Expectations. “ No exceptions!” Hood said that anyone that doesn’t rate 10% of staff as BE, will provide a staff list to Hood and he’d find the 10% himself. Funny how they originally said there were no forced rankings. Bull!

Promotions: Good luck. Even harder to come by. Not good enough to do an excellent job. You need to do something outside of you regular role and excel at that. How many of us even have that opportunity. Promotions cannot be used as incentive to retain staff.

BNYM is dying a slow death. Rearranging the deck chairs on the Titanic. Management doesn’t care about staff. Doesn’t care about moral. This will eventually blow up in their faces. I hate to say this, but I’m hoping it does, which is the only way they will see the damage they’ve done.

by Anonymous
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Post ID: @OP+104IiO3T
Comment! It's anonymous!

8 replies (most recent on top)

At what point is the class action suit initiated against the policies targeting legacy employees?

by Anonymous
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Post ID: @2gsc+104IiO3T

Agree with azl. There is no reason to blatantly insult long term employees with forced false Below Expectations ratings. These are people who deserve to be treated honestly and gently when they and their families are about to enter a difficult time. Employment is at will so there is absolutely no reason for this charade. This mean spirited and dishonest approach speaks to the total loss of personal ethics and “core shared values”, remember them? Karma does happen and yes, it is proportional. I’d advise to consider treating the least among you with kindness and empathy in these situations.

by Anonymous
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Post ID: @1lat+104IiO3T

"....4 of 9 on my team were forced last year."

"...telling hard working dedicated employees that they are below..."

I hope YOU will testify against this disgusting travesty. Why do you think I couldn't be a part of it any more?

by Monique
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Post ID: @1kzd+104IiO3T

At least he has some transparency around the issue......others are not so transparent.

by Anonymous
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Post ID: @1mos+104IiO3T

If promotions are even harder to come by at BNY, how did he ever manage to wangle one even from outside at B of A.?

by Anonymous
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Post ID: @qmg+104IiO3T

Horrible policy. and 10% is a really low figure four my Dept. 4 of 9 on my team we forced on this last year. We find out more this month that follows into next year. If they need to make cuts. Then just be civil about it and make them. Telling hard working dedicated employees they are below is just horrible. Totally wrong idea. I'm sure board members read sites like this. Still no changes, so don't just blame Charlie.

by Anonymous
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Post ID: @azl+104IiO3T

They used the term: STACK RANKING.

If you got a BE, you are at the bottom of a list.

And if you are in a high performance group, or on a team decimated by layoffs, there is still someone at the bottom of the list.

No exceptions.

by Anonymous
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Post ID: @bug+104IiO3T

He did say that the 10% was hated by managers, and if they would not do it, he would do it for them. He and HR were clear: they must enforce company policy. No exceptions.

Does upper management understand, if there was ever some good reason for the quota, THE POLICY HAS FAILED. Everyone knows about it, and it affects the targeted employees, their managers that hate it, and the teams that all know about it. This depresses morale and is production down all around. That makes it bad for the company, too.

Someone asked if there would be another forced exit of BE employees. No matter what Hood says, we believe that BE is used for layoffs. This is just really bad policy.

by Anonymous
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Post ID: @dij+104IiO3T

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