Thread regarding Bank of New York Mellon Corp. layoffs

I am hearing that If you get a BE rating and let go the SUB pay will be refused or lowered - is that true? Is that why they are rating high performers and good hard working employees especially who have been with the bank for many years - with BE ratings.. is that their new low plan or strategy - sickening!

The reality has set in and already accepted it and moved on and will not hold any anger as it does not help my well being. I never had a lay off in my 20 ish work life. I am not sure what is the best approach now.

1. Look for a better opportunity now or
2. take times off while still getting the SUB, which is a lengthy time due to over 20 years of service and then the state unemployment benefits which is Up to 6 months.

Sorry this happened to you. Remember this, you were at the company for 20 years, you were not let go for your performance. You were let go for the lack of performance by your direct managers up to and including clueless Charlie.

The key thing to do is to take time for yourself and your family, each and everyday. If you have not already done so, file for state unemployment benefits, use the outplacement services- they will inundate you with online webinars, my advice is to focus and get your resume done first, then LinkedIn, start connecting with people, then take a few of the webinars. Don’t be disheartened or discouraged if you find connections or “friends” don’t respond to your invitation to meet for coffee or answer your request for advice. Some people think they are immune from adversity, some on vacation, some just don’t know what to say so they ignore you. Stay with it. Keep going! The best of luck to you and anyone else going through this here or elsewhere!!

16 years and also received a false BE review. I am devastated but also relieved to be out of a toxic environment. Would love to find out if there is a class action lawsuit.

Don't worry, Charlie is spending his money just like he leads BNYM...poorly mad uneducated. But hey, who hasn't made a 2 million dollar mistake before?

https://www.google.com/amp/s/nypost.com/2018/09/10/bank-of-new-york-mellon-ceo-sues-over-18-5m-penthouse-deal/amp/

Was there last year just before xmas. Nice present to our family from guess who. You will hit lots of emotions. Remember it is not you. Get emotional support and work at getting a better job. I connected with people from 20 plus years ago. Connections are key so learn to connect. Some people love to help. Figure a good six months if you go at it full time. Make sure your resume tailors to what you see in the job market (job descriptions). Other ideas and opportunities could open. Tell everyone you are in a job transition because you never know a contact that might get you a lead. It is quite common to be let go so don't feel alone out there and it is easily understood during an interview. Envision yourself landing a job. Be motivated by providing for the family. I got a better job, ironically, thru a connection at bnym that was let go last round. I did not contact to him directly - all happened by chance. Practice interviewing and tell a positive story. People will want you. Everyone needs new skills in terms of being nimble and learning job hunting these days -esp if under 55 or so. You will make it and keep thinking that way - everyday.

I had a different take when I came home with the same story. Fortunately I can say my wife still works and we have savings. My wife and family were thrilled. They were tired of me coming home every day and leaving in the morning miserable from a job and a toxic environment I hated. I spent more quality time with my daughter, and she's fine going to a public college (which is probably just as good anyway). Our quality of life is better.

Very well said. I've served the same amount of time, I am not be either. But we know it's coming. What's worse is that they are really not closing your position. They are moving it else where.

Good luck to you, things will work out better for you. Everything has its season as they say. You will find something and a place that will appreciate you. BNYM doesn't know what that means...to appreciate someone and their efforts...this sh** hole will slowly burn down eventually. Best wishes!

I am in the same boat. Got cut after 23 years and never had a BE rating, and my kid heads off college next year. It is a shame to cut experience people to save couple of cents. Please remember things will be alright at the end. If it is not alright, it is Not the end.

How/why did BNYM bring Charlie in if he was booted from Visa? Makes no sense.

How many people in total today were let go?

Sorry to hear what happened. You have your health and family and that's what is important. Don't waste your anger on him, not worth it. Rumour on the Street for a long time was that he didn't exactly leave VIsa voluntarily as he claimed.