When I found out I got laid off, I was shocked at first. I felt really devastated but I realized that people always ask "Why did this happen to me?" instead of "Why wouldn't this happen to me?".
My mistake was that I thought it would not happen to me, because, like many who were laid off, I had a great performance. On the other hand, BNYM has repeatedly proven that we are all just a number. Someone simply had to be laid off.
Gerald was a great guy. Knew him well and he did the best he could, trust me.
Totally agree. When I got let go in January, I was pretty upset and disappointed, but in the end everything worked out great for me. At BNY I was fed excuses why my raises and bonus were tiny (location, salary band, etc), but interviewing for new jobs opened my eyes to my actual worth. I received multiple offers and I'm now making far more at my new job. I'm thinking of sending a thank you note to my old manager (if he still has a job).
It’s Corporate Warfare that was not widely used at Bank of New York or Mellon Financial until recently. It is much more common at other Financial Institutions and became practice here after Mr. Scharf was invited By the Board of Directors to help manage the firm. The articles about Scharf’s management style being business first and kindness last were true and his style was vastly different from Mr. Hassle....who in my opinion was kind on the outside with a super intelligent business demeanor on the inside. He may have appeared nice, but I also know he would hold others accountable for fails and misses despite popular opinion. He truly loved the Company he spent his entire career with and wanted to see the entire company and all employees prosper. Not just the share price. But those days and that type of leadership are gone. Shareholder Demands and the race for earnings has no place for pride and kindness. Institutional shareholders demand returns and do not care about people. BNYM has to deliver or be cast aside.
I am sorry for everyone that is impacted by layoffs. The last thing you want to hear right now is that this could be the best thing to happen to you. Look out to the future because the best is yet to come. You have a lot to offer, don’t let someone tell you otherwise. I remember one of my managers who was laid off being told she had no qualifications to be at a VP level, despite having held that title for 10 years. This was from the company the Bank hired to help people find new employment. Don’t take that advice......these people don’t know you or what you are capable of doing.
This is just business and it is not personal...although it feels very personal when are concerned with expenses and supporting your family. You might be at rock bottom now, but remember that rock bottom is a solid foundation upon which to build. Move onward and upward.