BNY Mellon is following Goldman Sachs directive and will communicate to staff next week.
Todd wants to step in and do right by his employees!
https://www.reuters.com/article/us-health-coronavirus-goldman-sachs/goldman-gives-staff-10-days-paid-family-leave-due-to-coronavirus-memo-idUSKBN21I31O
I haven't heard anything about this. At the Markets Town Hall, we were told to take our vacation if we needed time.
I thank BNY for the opportunity to work there. Got displaced pre Covid and got every penny of SUB plus UC. Now I get FED SUB on top of UC until July unless I land a job. Either way, I will be back working by August.
I'm not him but since the SUB reporting seems to be an honor system, I wouldn't be surprised if he just collected both, I can't see how they can know that.
@1qrh+14idOHGb How did you continue to collect sub payments with a new job? Under the sub agreement, sub payments and benefits end once you obtain new employment.
Usually GS MS JPM lead and the rest of WS follows. If this is true high chances bnym will also do it.
My husband has 8 week paid to stay home. My son has unlimited sick days. There are much better responce to corona outbreaks than in BNY
We all know that employment at the Bank is at will and that we have been downsizing for years. The Sub plan is 2 weeks per service year capping out at a year. This is actually very good. To give you some perspective, I’ve lost jobs twice with no safety net, once as a single income head of household which is a much riskier place to be just to give some perspective.
That’s why I appreciate the bank’s generous treatment of the displaced. It’s actually a major reason to remain here. In these uncertain times I like the idea of a years safety net far more than jumping elsewhere for a15% raise because I’ve been through job losses without a net and this is a great safety net.
Incidentally, age 60 is horrible for traditional employment but great for contacting and temporary gigs which pay more than FTE. Employers love the knowledge and experience but don’t want to directly hire. Contracting implies a bit more risk but the reward is that you can make far more per hour.
I agree with the last comment. I will bet @1tjt+14idOHGb has a political connection with an "R" in it. Typical conservative selfishness.
@1tjt+14idOHGb .... they do 'right' according to you? Offering Cobra is required by law. Sub plan? After that ran out, how about someone like me who was let go, age 60, facing age discrimination in normal times, and now this crisis which has all but put me out of the job market. What's wrong with you?
It was definitely better for me to get laid off. I really, really hated my job at BNY and just did the absolute bare minimum for half a year with hopes of getting laid off. After I got my BE rating I immediately began interviewing for new jobs. I had several offers to choose from by the time I got my layoff notice. I accepted the best one immediately, took myself a month long vacation and then started my new job while continuing to receive my SUB payments. I've made twice as much money as usual, have a job that I love and I no longer have to settle for just doing the needful to get by.
Fuccin s—ers. Keep telling yourself you're better off working at that hellhole, see what that gets you.
The Bank already does right for ex-employees with the sub plan and cobra. Many people on this board actually seem to be hoping for it but in my opinion you’re better off with a job than a displacement.
Isn’t that what we already get in Pgh & other locations. It’s 10 sick days. It went into effect March 1. We got an email about it? Or is this something else?
maybe he can step in and do right by the ex-employees?