Thread regarding Bank of New York Mellon Corp. layoffs

@1vnu

But Hamilton was and later the Bank was incorporated and is now owned by the shareholders. That’s the way that it works and to this day our jobs are to pay the shareholders rather than “increases the management pockets.” The goal is to increase the return to the shareholders, not the employees. You can easily become a shareholder and join in on the fun as an owner.

If you’re hungry for a higher pay bump or more meaningful challenges, you’ll find none of that here. This place has become a temporary stop gap to hold you over from the outside until you find something better. Many of the leadership in ASD and Finance joins for 2-3 years, doesn’t follow projects through, and just leaves to go somewhere else at the end. RR has been here for four years but have we seen any cost savings from his initiatives? Any quality of life improvements with the day to day? The original head of client coverage lasted only two years before going to a different LOB. Various finance leaders have internally moved around many times within two years but many have them left the firm completely. Why am I going to waste my time placating leaders who aren’t going to care anyway but just loot this place for a few years until they find something better?

HR is working hard to improve the employment experience and meet the needs of all of our employees. Look for announcements in the new year.

Executive compensation is a joke. They have quantitative targets, but when they miss them, they argue environmental factors.

So they are excused for underperforming and, when good results are totally driven by market factors beyond their control, they get paid for that, too.

None of these executive level hacks at this company are entrepreneurs- they never risked any of their own money to start this company. They basically schmoozed lied and manipulated to get the absolutely ridiculous compensation packages they have at the expense of paying the rest of us.

I heard Twitter was hiring

@OP+1jO2N8Ut

You might want to rewrite this cogently. I think that you might have some important observations there but it’s impossible to discern what you’re trying to say.

I will say that your comment “ All these things increases the mgmt pockets whereas substantially decreases the money employees get in their bank and as a cherry on the cake the paltry 1-2% increase they give even in technology side. So essentially employees are loosing money staying in this place. better we go out and at least be happy” Is particularly confused.

Your money loss does not “ increases the mgmt pockets”. All employees are governed by grade and performance and your pay has nothing to do with another employee’s pay. Could you possibly be confusing the dividend returns to stockholders (our owners) with managers, who are only employees as we are? Also “loosing” money would mean that you’re dumping yours. “Losing money” is what you probably mean.

BNYM have never grown the business to support hardworking employees, nor should they. No company in history ever has..

Entrepreneurs take risks to start companies in order to make a normal profit. Employees are costs. This doesn’t mean that employees aren’t paid appropriately or aren’t treated well. It’s simply that growing a company to support hardworking employees is never a goal.

And I am applying actively and looking forward to moving on. It is NOT like this everywhere!