Thread regarding Bank of New York Mellon Corp. layoffs

Forced BE are subjective and bias. No people development. Terrible. Charlie may have upgraded 101 Barclays to his 240 Greenwich but has done nothing for employees. It's k–ling the company that Hamilton proudly started.

I read that someone had 2 be and finally got the package. Is it true that they are trying to push people out without paying the package?

Most policies were written for a growing company in a vigorous economy. We now have a shrinking market and tenuous economy, so industry is laying off. Policies have not caught up.

For example, recent performance reviews. It was easy to praise people for their achievements and productivity. But there is no training or example for thanking people for persistence after layoffs and reduced SMEs for support that has reduced achievement and productivity all around.

I suspect that there could be departments at BNY that are growing, and others that are being phased out. Maybe they should designate policies as such. A bit of clarity goes a long way.

They are obviously targeting anyone 50yrs and above. This is a horrible policy.

And, really, if I am just on a mission to reduce headcount, why not state this?
Why am I forcing BEs on people who don't deserve it?
What's wrong with me??!!??
(It's truly DISGUSTING, and I hope one day this will come back to haunt me.)

Regards,
Charlie

So what happens to an employee who is fired for not adhering to a company policy or internal procedures. If the company either doesn't follow their own policies or update them before used, how do any of the policies have any meaning.

People are fired for failing to follow policies and everyone signs off on the Code of Conduct, which governs all actions of all employees.

Lawyers who have never worked in corporate America are pretty clueless in what companies try and get away with.

I called a private attorney that told me the same thing.

The rating was not false, it just wasn’t based on the sort of thing we would have mentioned at a mid-year review before the BE policy.

BNY actually gives us instructions about how to determine the BE by comparing a team and picking someone with a performance difference. That person becomes the BE.

This is just a horrible policy all around, and actually getting worse. Someone else can describe the latest twist to the BE ratings.

There seems to be no end to BNY’s creativity when it comes to bad policies.

@10wa3D4E-vmr
when you say that you consulted a lawyer, I'm curious if it was a free consultation. BNYM offers 30 minute free personal legal representation or consultation as part of our benefit package. If you read the fine print, you will discover any lawyer on that same list as retained by our company cannot/will not give advice in opposition of our company.

I wouldn't be so quick to accept free consultation as being in the clear from potential legal troubles. Seek advice from a paid lawyer who can represent you if something arises.

You are falsely acknowledging a document leading to employee loss of income.

BNYM lawyers will represent the company and perform damage control. Part of that will likely involve quick termination of any managers by implying they did not properly follow the company's guiding principles of performance management.

I am a manager that called a lawyer before force ranking an employee BE.

The attorney said that was not illegal, and I should just wait to see what the employee did.

HR said if there were any issues they would handle the employee. Presumably, they have their own lawyers on staff.

Meanwhile, I could imagine HR telling the employee to enter a MyHR request.

I am interested if any employee reacted in such a way, what was the result?

Please let us know.

There is a difference between not following internal company policy and breaking a law. Some company policies are based upon region-specific regulation, but definitely not all, and there is no law that says a company must follow their internal non-regulation related policies. Also, It’s a lot harder to sue than many on this board seem to think. You can bet that the lay-off pools are very carefully constructed with legal department involvement to ensure that the demographics won’t trigger litigation. And making a case for hostile work environment, etc is very difficult and expensive.

Not a lawyer, but I think any company that doesn’t follow its policies is breaking the law. Can be sued for this and should be.

Well, considering they laid off all but one member of the policy team in May 2018, and the remaining person left in February and was only replaced last month, by someone who has been thrown to the wolves with no leadership or training, what do you expect? It's the same with the Ethics group, which was all but terminated as well. I guess they've taken the position that if these groups don't exist, there's really nothing to adhere to/hold them accountable. There is no official policy on the forced ranking system. Word of mouth isn't policy; when the top of the house thinks they are above the rules, this is what you get.

You are right. They have not change policies and procedures to match what they tell us to do now. And its getting worse, so you are lucky to be out. In your 50s, you still have time to make the best of it. Good luck!

You are absolutely right when you say they are not following their own procedures when it comes to performance management.

I have seen it first hand.