Thread regarding Bank of New York Mellon Corp. layoffs

@2fjs, that's the sad part of BK firing so many people. They DO offer pretty generous separation packages, but they don't use it to @2fjsthe pain of such a big change. Instead of just ambushing employees when they want to fire and replace them, they should announce a percentage that they are targeting to move to India, when you'll be ranked, and when you'll be notified. And they should explain the help you'll be given adjusting to the change and give a general timeframe of how long your job is safe until the next firing. Oh, and they shouldn't lie and say your position has been eliminated when all the work you had on your radar is done offshore after you're fired. Of course, then you'd be entitled to FED unemployment benes.

Wall Street hasn’t fallen, the country has. Wall Street is just fine, trading bonds, stocks, futures and derivatives with transaction fees. Of course market valuations would reflect that. And people blaming Wall Street should examine their voting.

Would you invest in stocks when corporate earnings have literally been knee capped by government? Have you filled up your tank or even bought food lately?

I wouldn’t invest. I’d move into real estate and pay it down with ever decreasing fiat currency. Don’t even mention precious metals, or crypto currencies. M.R.E. (meals ready to eat) are one heck of a better investment than any of those. Gold, Silver and Precious metals are less per ounce than under Jimmy Carter, and that’s WITHOUT adjusting for inflation.

No, they displace with a generous package, unless there is termination with cause. Even in that case, they often give the package. I agree that things are bad but credit should be given where credit is due. There is no reason to make things up…

Banks don't lay off employees. They fire them and replace them with offshore employees. That's why we essentially have the same number of employees as we did 2 decades ago.

Re-Fi folks might have a hard row.