Thread regarding Bank of New York Mellon Corp. layoffs

Are they dismissing people without SUB pay for a BE?

I've not heard of any yet, but who knows how low they will go.

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Post ID: @OP+10j5tp1D

7 replies (most recent on top)

You mean can you get fired? Of course. But It’s far easier for the company to get rid of people via a lay-off than firing for performance issues. SUB payment is a blip on the company’s financial numbers. Not even a blip, actually. It’s just continuation of some payroll expenditure that is then discontinued. The company isn’t out some big amount.

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Post ID: @cclu+10j5tp1D

I’ve only heard of 2 instances where staff with BE ratings where terminated. I honestly don’t think they would stoop that low. If the sub plan disappears I think everyone with a BE rating starts actively looking for a job and leaves on their own. Charlie’s going to have to start rolling up his sleeves and start doing a day job.

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Post ID: @cuyi+10j5tp1D

They will hope the BE people will walk. That allows them to reduce numbers under what they call "natural attrition". If you get BE do not walk out. Just work forever more on a "go slow".

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Post ID: @1fef+10j5tp1D

Just got the BE in Ends today, does this mean I will be on the list? Here's hoping

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Post ID: @1ids+10j5tp1D

The problem is that once they stop paying sub pay, there is no reason for anyone to stay and risk being laid off. That will result in losing way more people than they would be able to recover from. Not enough people will be left to train.

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Post ID: @oxg+10j5tp1D

I believe the SUB pay is based off of a trust fund? Probably don't have enough in there to cover all the layoffs. I would not be surprised. Especially when you lay off a bunch of people who have been there for 20 years +.
I would not doubt they try to screw the remaining layoffs out of the sub.

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Post ID: @vcs+10j5tp1D

I wouldn’t be surprised if they stooped that low. It makes me wish that they laid me off earlier in June so I could have taken advantage of a paid 2-month vacation. I’ve been searching for a new role since the first round of layoffs in Q1 but am close to landing something outside of here. Now if they lay me off, there sounds like there’s a chance of getting let go without SUB pay because of a BE that may be given to me next week; all this is due to the fact that I haven’t been given any meaningful work that contributes to the teams’ goals despite my willingness to participate and me stating what I can do for these initiatives. If I’m not valued and will get a BE slapped on me, then I would definitely not feel bad for walking out myself. These guys will definitely stoop that low.

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Post ID: @btb+10j5tp1D

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