Is there more information on who the target groups might be? How big will the upcoming cuts be anyway?
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I believe I am one of the employees that will be let go in April due to BE end of year review for the first time in almost 25 years and my age plays a factor. (My morale is non existent. ) It is out of my control at this point. I am close to retirement age but not yet. If I do get let go, my sub pay and employment should get me through until I can file for social security.
I am at peace and have decided to just take things day by day.
@1gpq, BOA is a retail bank that hires a gabillion tellers for $12 per hour. We're a financial institution that happens to do some banking.
I wish BNY Mellon was emo so it would cut itself.
BOA's leader says they have problems finding people (nearly 13,000 jobs posted currently!) and BNYM is laying off people. Not sure how we have an exact opposite problem from everyone else in the industry.
Hoping a change in leadership will provide a change to this "layoff culture" too.
The main target is always the same OWM. To avoid lawsuits they do mix in the very worst of the worst slackers out of DEI and young hires, but only the very worst.
@btx, no, they don't. PLENTY of ME and EE employees have been canned.
Their retail mutual fund business should be sold. Who these days opens an account consisting of only BNY Mellon funds?? NO ONE! That and Shareholder Services is a complete drain if resources and talent. Though definitely NOT managerial talent! They have NONE!
They usually look for the weakest link in department (under performers, below expectation) employees with a long tenure and making close to or more than six figures. Let's not forget those close to retirement age. Sucks but these are the criteria for all rounds of layoffs. The Bank sucks and so those upper management.