Thread regarding Bank of New York Mellon Corp. layoffs

BNY Already setting up for 2021 Layoffs

Upper management has pushed down the chain that a certain number of people must be put on corrective action effective immediately to ensure that they have a population to fire in Q1 in 2021 and hopefully are able to do so without layoffs and the associated costs.

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Post ID: @OP+166QKdFP

16 replies (most recent on top)

Stop getting my hopes up! When I see the package, I'll believe it!

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Post ID: @eaey+166QKdFP

Wells employee here. Same situation where 20 percent required to be rated not performing so basically Chainsaw Charlie can fire them and not to pay severance. We technically competitors but forever share the bond of having Felt the wrath of Charlie. Wants to tighten expenses yet hired 10 former buddies to layoff 50k-70k employees

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Post ID: @6lbt+166QKdFP

There are plenty of jobs available in the market, not sure what makes folks glued to the company, probably they have to work, as they are barely working here! I could actually say anything and get my timesheet done, it was that easy.

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Post ID: @3onk+166QKdFP

Does anyone really want to keep working for this company?

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Post ID: @3hic+166QKdFP

I am so glad to have been laid off from this company. Especially after this.

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Post ID: @2rxs+166QKdFP

Corrective action is probably a corporate way of telling you that though you were rated Below Expectations, we care about you and your career here and we want to place you on a proper path for excelling. You will never get the chance to correct your action because they will lay you off before you have a chance to meet your first goal!

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Post ID: @1sqi+166QKdFP

“Nice Guy” can’t help if people are not meeting the basic expectation of their job and not able to add more value. Lay-off and firing strategies are driven at BOARD level.
Bank is not tech company, it should be given to tech giants to save money and build quality software. I am not saying consulting companies but actual tech companies like Redhat or VMWare.
I am still seeing BA at work, not sure why these folks are needed, probably some team needs luxurious working environment or blame each other to save their job.

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Post ID: @1voh+166QKdFP

Layoff’s in 2021 - definitely as they need to make up for 2020. Luckily this years financials are not a disaster.
They would be (really) stupid to fire a lot of people as that would surely hit the press.
We have a terrible CEO in terms of vision, driving the firm ahead, but he wants to be a “nice guy” so I doubt that would happen.

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Post ID: @1zzp+166QKdFP

In my opinion, those who didn’t fight back after getting BE meaning they agree that they are actually not good at what they do. Fight for it and get lay-off or don’t fight for it and get fire. Lay-off is better cause you get paid for couple of month and have peace of mind until you find your job. Fire is bad tag.

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Post ID: @1laj+166QKdFP

I don't know about the 'firing' part of this (they couldn't be that dumb, but you never know) but I can tell you in techology we have already been asked to give the relative rankings with the purpose being that those at the top go first

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Post ID: @1ips+166QKdFP

I would really like to see some evidence is this.

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Post ID: @1tqt+166QKdFP

So they are trying to fire people to limit layoffs? Seriously? This is horrific. Is there legal action that can be done? Is this for real?

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Post ID: @oxg+166QKdFP

I dare they put me on corrective action. The reasons they put on my performance the first tome around was sooo comical. They would be f—ed if they try to pursue anything. Bring it!!

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Post ID: @gqz+166QKdFP

They recently changed the process - you can now be put on corrective action for scratching your head at the wrong moment - no evidence required.

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Post ID: @ioj+166QKdFP

Can someone further comment on this and the requirement/process for corrective action?

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Post ID: @xtu+166QKdFP

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