75% Feel Abused

Thread regarding Bank of New York Mellon Corp. layoffs

Collective Abuse: Junior bankers in San Francisco (Goldman) felt alienated over their long hours, what they considered low pay and lack of Seamless stipends while working from home. They made a formal presentation to their office’s top executives, relying on survey data they gathered that showed, for instance, that three-quarters of them felt they had been victims of workplace abuse. It was something a little like collective action by America’s future elite.

Paywalled Source: https://www.nytimes.com/2022/02/15/magazine/anti-ambition-age.html
Paywall removed: https://archive.is/l9dhd#selection-1215.0-1222.0

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It’s a fascinating juncture for the American workforce. As modern communication methods have become ubiquitous, employees have seen boundaries disappear. It’s 24/7/365 for many and, at BNY Mellon, the culture has become meaner.

In return? A decline in job security, as companies like BNY Mellon deliver shareholder returns not through revenue growth but through job cuts, holding the line on pay increases (even when people are assuming additional responsibilities) and cutting into incentives and benefits.

Will workers put up with it? Speaking as one who didn’t, I suspect I’m not alone in walking.

I hope the moment beings about change that benefits those who are contributing to the success of the company.

Thread regarding Bank of New York Mellon Corp. layoffs

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