Thread regarding Bank of New York Mellon Corp. layoffs

It's time...

It is time to reallocate all my 401k BNY Mellon stocks to other secured mutual funds. This BNY stock is a joke - only depreciating since brought in long long time ago when I first joined this company because I want to grow with this company. Apparently this company is like a boat sinking in the deep sea now either they try throwing people out of the boat (Self-saving) or people choose to leave willingly (good for BNY without giving severance package).

We buy BNY stocks for our 401k for future Retirement because we previously believed in the company here. However, you throw your trusted people with their family kids out of the boat in the sea.

I wanna say BNY Melon is not deserved for good people to work around indeed, but I still prey for the company to get back on track because there are still a lot of lifes-hard working staffs still replying on this boat to come up for air. God bless America.

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Post ID: @OP+15SbGYal

18 replies (most recent on top)

Not wise to invest in any one stock when you can invest is so many different stock and bond funds via Voya.

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Post ID: @9mjr+15SbGYal

Hmmm...I highly suggest you do some research before investing too much in this company.

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Post ID: @8nub+15SbGYal

Why? I'm convinced there is alot of unlocked potential in this company and has a good future.

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Post ID: @8gfv+15SbGYal

Let’s get this right... are you saying that you work at the bank and choose to invest directly in the bank stock in the 401K? Not options, not ESOP, just choosing to invest in BK stock in the 401K every paycheck? Do you feel that it is well managed? Do you have a business degree or anything post high school?

Diversification is a key concept, not simply among stocks but life itself. The bank is struggling and its stock reflects that, layoffs reflect that. You have a job with the bank, benefits through the bank, job “security” with the bank. You could be competing with other displaced employees For jobs, watching your 401K stock tank further. Diversify... google it.

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Post ID: @8cvd+15SbGYal

Just bad investment choice. If you had invested to grow with America (index funds) you would be way ahead (like me and others). Like someone once said: it’s tough to beat the market.

(I also have a Roth IRA with FANG stocks. Lucky me! For now...)

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Post ID: @5ssp+15SbGYal

If you invested 10K in BK on Jan 1, 2001 your investment today would be worth 10K + about 50 bucks. LOL

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Post ID: @4vjh+15SbGYal

Good call, its going to move between $30-$40 for the next decade.

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Post ID: @3hmt+15SbGYal

Is good still prey for the company for it prey on you with Lay-Off

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Post ID: @2nvg+15SbGYal

Yes, do so by next week at earliest. I would do it in pieces, no lower than 38 a share.

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Post ID: @1unf+15SbGYal

I never invested in BNY. My 401k has index funds invested in “America”. Lucky me, I guess.

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Post ID: @1idl+15SbGYal

You should never have invested all of your retirement money into the company stock. Just not a good idea. Look at all the failed companies out there that people thought could never fail. You know this place is a joke. Get out and put it into anything else

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Post ID: @1gtf+15SbGYal

Their stock is a stagnant t–d. Hovers around the same prices. Millennial day traders on Robinhood aren’t messing around with BNY’s stock.

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Post ID: @1tkj+15SbGYal

I'm proud of my VP title. Now excuse me, I got to get back to scrubbing those floors.

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Post ID: @1irm+15SbGYal

Money saved for retirement belongs in diversified equity and fixed income indexed investments. If you are in the Bnym 401k - you have access to those types of funds. You also have access to Lifepath index funds based on the anticipated year you will retire - if not at BNYM then elsewhere. If you don’t know which funds or how much to allocate- then select the lifepath index closest to the year you think you will retire and put the entire account value there. Those funds are professionally managed by BlackRock, are low cost and are diversified across equity and fixed income, real estate and commodities. Go to BlackRocks website and look up the specific fund and it’s performance. It may not shoot the lights out on return but you aren’t going to lose your shirt like you could if you place all your eggs in one basket like BK stock. Think about it - you work there and then you put your money in the stock. If things go bad for the company, they could fire you, the stock could plummet in value - you lose twice. Get out, get out now!

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Post ID: @gjx+15SbGYal

you want to get out of BNY stock now? I think you are 20 years too late. Go to here and look at the chart for 'max' amount of time. Same place you'd be in 1997. https://finance.yahoo.com/quote/BK?p=BK&.tsrc=fin-srch

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Post ID: @rzn+15SbGYal

I find it just sad, considering the historical roots of this company that it has been allowed to become what it has. It needs a head to toe revamping for modern times and it really needs to take a look at it’s work force, in particular the managers and culture it has currently and figure out the culture it wants. This site says it all. A lot of unhappy people in the workforce and potentially a lot more who don’t contribute. A happy team oriented collaborative workforce is far more productive. Don’t you want your workforce to feel happy and truly invested?

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Post ID: @yuv+15SbGYal

I find it just sad, considering the historical roots of this company that it has been allowed to become what it has. It needs a head to toe revamping for modern times and it really needs to take a look at it’s work force, in particular the managers and culture it has currently and figure out the culture it wants. This site says it all. A lot of unhappy people in the workforce and potentially a lot more who don’t contribute. A happy team oriented collaborative workforce is far more productive. Don’t you want your workforce to feel happy and truly invested?

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Post ID: @ask+15SbGYal

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