I don’t know what else to say. What they are doing to our department just makes NO sense. Maybe its part of an overall plan but I don’t think so because their decisions just keep getting more and more STUPID. It’s like they are trying to fit square policies into triangular holes. Any things keep getting worse and worse.
TGIF, I guess.
There is no credible leader and no talented senior managers to implement whatever fragmented vision of strategy which they think that they have
The sole initiative being implemented successfully down the chain are staff cuts.
Technology initiatives have been 100 percent failures for three straight CIO and we now have 3 distinct IT organizations... and zero payback.
Sales restructuring and cross business know your customers initiatives have been failures for 12 years... we now have more “single global deliver the bank to the customer” teams than we have major customers.
We have 3 or more ways to perform most every significant process, each with redundant teams.
What do all of these have in common? Complete lack of leadership couples with detached management which do not understand the departments which they manage.
Let’s face it all big banks are laying off. HSBC cut 4,000 the other day. BNY has been losing large clients for years now. An ETF client is leaving in November. That is the largest client in Brooklyn. They are centralizing all service teams jobs duties. Once centralization is complete for basket process & accounting functions don’t know what is left for all of them to do. I believe the plan is to move everything to Florida since no room in the new building. Everyone out of BK by year end. The janitors & security were told they are done in December. Good Luck to everyone
Mgt lacks any skill or talent. Anyone can lay-off people. No growth and fools at the top.
It's amazing how BNYM keeps people who have had HR issues more then once and yet cut people who have a work ethic. Something is seriously wrong with this establishment.
It’s like BNY is in a PANIC. Cost cutting for today but disaster for the future. We no longer have enough people to do the work, and enough critical people are gone that those that remain don’t even know what they did. The Company must be in big trouble to let such talent go, and even worse trouble to continue to cut staff. I wonder at what point their customers will feel the effects and if they will have a choice to leave, or just go down with the rest of us in the ship called BNY Mellon.
What department are you in? I totally agree. They are doing the same thing in my dept. I think it’s just cost cutting where ever possible.