Thread regarding Bank of New York Mellon Corp. layoffs

June Market adjustments and promotions.

There have been bulk promotions in June since last 2 years . Why the market adjustment takes place just one month before Merit .Is this some kind of Cost saving strategy or to retain the most talented employees so that they keep doing the mediocre job that they have been doing here .Looks they have a reserve budget for those shoe lickers who threaten to leave the job and the Company uses it to keep them to run the sh*t show .

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Post ID: @OP+15x5JCie

5 replies (most recent on top)

Sorry, all the money went to paying the salaries of deadweights who should've been laid off but couldn't until 2021.

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Post ID: @3zcr+15x5JCie

For those remaining, they better get market adjustments for the garbage they have to endure

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Post ID: @3saf+15x5JCie

When did we get ice cream? WHO gets market adjustments???

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Post ID: @3yck+15x5JCie

The concept of Peter Principe which became popular as it was seen to make a serious point about the shortcomings of how people are promoted within hierarchical organizations. Hull wrote the text, based on Peter's research. The Peter principle has been the subject of much subsequent commentary and research. In BNY Mellon there is a dark side to everything. These market corrections are important to meet the financial industry standards or else the competitors would hire them. Now the question is who would be picked up for these salary changes or promotion. Don't be disheartened if you are not selected despite of all the hard work and efforts . In every profession due to managers inherent and biased nature the favorites are given the best of assignments , the confidence to perform and also taught most of the skills. There are few left alone and on their own who does not dance to their tunes and all you could hear is why don't you leave this place and look for a job outside .Very little they know that the 'Peter Principle' which is breeding in this organisation for long is the very reason behind systematic dismantling of your Career. It is of managers best interest to promote these favourites so that they both can grow. It is not anybody's fault it is just that the system is designed that way. Keep doing your best and always look for opportunities and in the end when things begin to work for you don't forget where you started . Always favour Merit, work and hard learnings in your journey and not these manager's favourites who came first in this Corporate rat race.

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Post ID: @1mlo+15x5JCie

Very Bitter. Likely been stuck in the same role for many years, no progression routes and no prospects.

Congrats to those who’ve been promoted.

In terms of saving, most rises only occur each quarter or semi-annual for director level.

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Post ID: @ooc+15x5JCie

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