Over the past 3 months a number of employees of all levels with significant experience have been laid off. This has resulted not only in a significant reduction of experienced, knowledgable people it also makes it much more difficult to get work accomplished for those remaining. I experienced this before I retired, encountering conflicting priorities and limited availability of those remaining. This put more workload on remaining staff and declining morale. If you still want to get hired at BNYM get as much experience as you can and leave as soon as a better opportunity presents itself.
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Some are laid off for performance. Many older employees are laid off because we are at the top of our salary range. I was told I was cut because my position was eliminated. My manager later told me that had I received a performance review it was have even a very good one. It was simply my salary and the fact that I was in a high cost center.
I’m sure all of you know when people are let go they are let go for a reason- poor performance, giving mgmt a hard time, etc. Also, HR has a file some can be rehired and some may call it blacklisted. These people will never be rehired by the company. They can apply for positions but will never receive calls for interviews. Good Luck & Don’t forget to wash your hands
BNY executives offered bonuses to stay with the company (Ignites). Meanwhile, departments continue to redeploy lower level associates to offset their bad decisions. Can we blame interest rates forever too? The 5 year stock growth is 0%. Annual employee redeployments going back to 2008 (often twice/yr) as the executives praise workers as key to the company. Blah! Blah! Blah! Does anyone have faith it will get better? Definitely dont recommend employment here.
HR in this company is not strong, they should challenge the management why there are so many open positions when people are getting laid off - there is something wrong, also in many depts where people are laid off, the team just hired new managers and teammates, this is such an irony, that HR shuts its eyes - friends of managers and people they have worked with always make into the company now - there are many black sheeps within the company who act they do the best for the company - nope they are busy filling their pockets!!!
@1zby+13OtALhQ there are many talented people that were laid off and makes no sense seeing as how the company is still hiring for open positions. Why not give the opportunity for those people to move into another role before kicking them out
Not to flatter myself, but there sure was a significant brain drain when I eventually QUIT. And others have been quitting, too. That often gets overlooked on this website.
let's not kid ourselves, a lot of these were ad-hoc positions or something that will be automated in the future. "talented" people should theoretically be fine or could have left ages ago for better compensation and work conditions.
Sh–hole