Thread regarding Bank of New York Mellon Corp. layoffs

Horrible workplace

Why does BNY Mellon alway treat its oldest and most loyal employees the worst? People who have been with the company the longest? Do you know of one other company that cares this little about those who are directly responsible for the majority of its profits?

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Post ID: @OP+16h98Gbw

12 replies (most recent on top)

There was an age discrimination lawsuit IBM lost. If you're interested in doing the same against BNYMellon, this is information I got from a journalist who reported on the case. These are the lawfirms that represented IBM in the case.

Although I would like to participate in a class action lawsuit, I was only there less than 3 years and the amount of any award wouldn't be worth the risk (I would have to pay back severance and legal costs if the case was lost due to my severance agreement).


Attached is the EEOC determination letter that lays out its case against IBM. It was filed by the agency's powerful New York office. The New York office director is Judy Keenan. Her phone number is: 929-506-5322. During the next phase of the case, EEOC will negotiate on behalf of a group of ex-employees membership in which the agency decides. You could pursue the issue of joining that case with Keenan.
There are a number of private lawsuits that have been brought against BM in the wake of the ProPublica coverage. They pursue different theories. The lawyer I quoted is Jeff Young of the Augusta, Maine law firm of Johnson, Webbert & Young. His office phone number is 207-623-5110. His email is [email protected] Young's argument is that the IBM separation agreement abridges legally granted rights and so is null.
Shannon Liss-Riordan is a Boston-based class action lawyer who is engaged in two types of legal action, a class-action suit in federal count for the Souther District of New York. Plaintiffs are ex-IBMers who did not sign the separation agreement. In addition, when I last spoke with her she was engaged in mass arbitration proceedings. I'm not sure what the universe of clients are for the latter.
The phone numbers I have for Liss-Riordan are 617-471-1635 and her main office number 617-994-5800. Her email is [email protected]

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Post ID: @Jcpt+16h98Gbw

The goal, purge as many legacy BNY folks as possible. I was a threat to my boss, so I was force ranked, forced out. And I am very happy they did. Also, note their stock languishes too.

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Post ID: @9xub+16h98Gbw

I was separated last summer. Unfortunately there are hidden age discrimination. We even was told about it during unemployment meeting. A lot of company not asking your age but asking year when you was graduated from collage. I tried to find work so far no luck even I applied for some position which exactly mach my work experience. Some people in my network who I was asking about help told me their company looking for yang blood.

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Post ID: @9vpj+16h98Gbw

The managers will say the grass is not greener elsewhere, but that is because their nose is so far up the brown patch the only green they see is all those valuable shares of stock they are given for keeping employees hanging on in fear. The real story is there is life outside of the boneyard, every one is under pressure to produce, the economy is rough right now but it will get better. Companies are hiring. Skill up and keep your eyes peeled and ears open for opportunities outside of the boneyard.

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Post ID: @3zcn+16h98Gbw

The goal, purge as many legacy Mellon Bank folks as possible. I was a threat to my boss, so I was force ranked, forced out. And I am very happy they did. Also, note their stock languishes too.

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Post ID: @1pjt+16h98Gbw

I was really honest on the survey that was sent this morning. I suggest we all do the same.

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Post ID: @1qts+16h98Gbw

It's not just BNYM, it's the way of the industry. Profits, Stock price and Dividends come before clients, so employees are way down the list of priorities. I was at a competitor for many years, exactly the same, BNYM is just late to the game than others as far as I can see. Companies have always been this way, but the disparity between the top and bottom of the company has never been greater. These companies think the promise of a stock investment plan will be enough to make us feel we are owners and responsible for our success. Best thing you can do is change your attitude / relationship with your work , do the bare minimum to keep a job, or move into another industry / upskill as others suggest.

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Post ID: @1pmr+16h98Gbw

It’s understandable to vent and be upset. You work hard and make sacrifices to then feel overlooked or mistreated. Keep pushing forward and invest in yourself. Best of luck to everyone!

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Post ID: @1jlh+16h98Gbw

You are all so right. I’m so done with this place. I was mad and felt like just sticking it to them. Just last week I moved from being mad to doing exactly that. Doing what I can to skill up. Best wishes to everyone doing the same. To sunny roads ahead!

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Post ID: @1ktm+16h98Gbw

The thing with BNY is, it depends on the department you work in. From the outside the company looks good (I thought this when I was hired), but after a few months, I realized my department was riddled with constant turnover, office politics, employees arguing, and managers who just forward emails, no real leading. It's a cycle. The faces/names change when people resign, but the scenarios stay the same. Companies treat employees "poorly" because they can. They bank of the fact that you need a job and benefits so you are at their mercy at times. A word of advice, if you are really frustrated, then start preparing and just move on. Like the other poster said, start updating your skills, credentials, and network. Managers will try to tell you, "no one is hiring", because they don't want people to quit, but that is not true. The longer you hold the frustration and anger, it hurts you, not those you are angry with. The key is to be loyal to yourself and your family, not a corporation.

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Post ID: @ese+16h98Gbw

Use this time of working from home to do what is necessary while Todd promised no layoffs this year to sharpen your skills and be prepared for whatever comes next. The ratings are fixed, but you have the rest of this year to prepare yourself.

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Post ID: @rff+16h98Gbw

It is especially true when units are merged or people move into different departments. Unit managers feel threatened by those more knowledgeable and the easiest way to make sure their jobs are secure is by eliminating those people they feel threatened by.

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Post ID: @nqf+16h98Gbw

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