Thread regarding Bank of New York Mellon Corp. layoffs

131+1jkgg26ng - and this is going to make you mad, but yes there are percentages given to groups on how much staff you have to cut and mgmt can be struggling with short staffing already and senior leaders dont care. If you aren’t performing that well, its not hard to give you a lower ranking to meet that % either. And if you dont have anyone, it is forced that you have to pick people. This place, thanks to Robin and other senior d bags, has become a place nobody wants to come into daily . They should be proud they ruined this company and their employees morale.

@OP+1jkgg26ng

Do people really not understand that there is no preplanned percentage planned?

This is gonna make you mad, but each and every person who is laid off is displaced because the Bank believes that the worker is paid more than the value of their work.

It’s always been that way and likely always will be in all businesses from the beginning of time.

@k8

There is no “PM” rating. where do you really work cause it ain’t here…

Wrong, it’s always easy to identify the slackers. You can’t fool your manager but you can appear to be fool to them if you continue to avoid skilling up.

And yes… everything about BNYM is true of all banks and financial institutions.

@ky+1jkgg26ng
You are as sharp as a marble. Go take some ozempic for your brain.

@kx+1jkgg26ng

Your brain needs ozempic pronto.

@kw PM is partially meets. Yes, that’s a category. It’s group 5. Those are the next to go after the be.

And yes it’s forced rating, not just forced ranking. The shape of the distribution curve was forcibly changed from “normal” so that the employees targeted for the platforms layoff would not received severance.

@ka

Your “Lump” theory is ingenious…

Just love it and you really nailed it.

It never fails to amaze me how utterly lazy, unengaged and outright disconnected our employees are. GenX on down are a fail.

@h3

Dude… there is no rating of “PM”.

Get help.

@h3+1jkgg26ng stay strong and start pepping like crazy! A talent of your kind shouldn’t be with BNY where you are not respected,once the market picks up ,you will be taken in a jiffy..good luck

@gx+1jkgg26ng

Nobody is signaled out.

Nobody is targeted.

You’ve got a job for life if you simply come to work and sit there like a lump.

Period.

@h3

In your dreams Walter Mitty.

There isn’t any percentage or scheme. It’s disarmingly simple as a matter of fact. Every manager forced ranks employees, but that doesn’t cause a layoff. It only gives an indication of your best employees. In practice most all of the displacements are underperforming employees. Anybody who is at all engaged is at no risk of displacement.

Those displacees who disagree are advised to think long and hard about their work ethic.

I got a PM on my year end review. All throughout the year i was getting praises & accolades . 4.5 on the review done through colleague feedback, highest in our team group.

I am a good programmer & actively participate in contests , several awards , 2 patents ,several papers published. Level-L @firm

I feel the new mgt has totally lost it. Boss tried to justify the rating etc.. I asked him if he would take an aptitude test, an LA test or an independently conducted test on a programming lang of his choice against me. He refused. I asked him if his boss was up for it.

I will just move on, Preparing for Interviews now.

It appears the whole thing is a process of reducing staff. Folks have been here for years dedicated to the job and each year meeting and getting close to exceeding. This seems to be the NEW corporate look of things. Hard to find people committed to their job and knowledge go thru this.

WHY THIS GRADING SCHEME IS WRONG

Big firms like Microsoft has stopped doing ANNUAL performance reviews. They do it at frequent intervals. But that is not the issue here

A school with 100s of students who are doing the SAME WORK - assignments and tests - and grading them on a curve makes a lot of sense. They are running towards the same goal , solving the same problem and producing reports on the same subject

Whereas here we DO NOT DO THE SAME WORK .. In a department individuals have different roles and different responsibilities and COLLECTIVELY they achieve their targets. One cannot trivialize it by saying NUMBER OF JIRA TICKETS processed or activity on JIRA tickets. A problem from a client may be responding to a simple report request where as another problem may need a deep dive to isolate the issue before even providing a satisfactory response.

Same with technology Not everyone is writing the same piece of code or solving the same problem How can a manager normalize that and provide a quantitative way of "MEASURING" performance - It is nearly impossible , in my opinion.

I personally know a few of my colleagues work a long period of time to come up with solutions and delivery - from a management view point they have NOT DELIVERED anything where as another person who closes 1000s of tickets or works on them in a year. Both are valuable but where does a manager put a value when it comes to scoring them on a curve?

So it becomes a personal decision based on his/her relationship with the manager and not the actual work. Quantity or Quality. How can he/she can run the department if he is going to lose a wheel on his delivery vehicle ?

This is why the grading does not work here.. If this is so simple how come these managers who are highly "educated" and from "reputed schools with big name degrees" are not able to comprehend and address this.

The whole performance review methodology is wrong let alone the way we conduct it in terms of setting goals when we are ready to write the review .. Yes most of the goals land on us just before the self-assessment is due and is applied retroactively.

MANAGERS are to be blamed. Without constant feedback a person cannot course-correct and align to the expectations. So the employees are SET UP TO FAIL

We know the system is flawed and we have to work to be on the other side - be a Senior manager say as an MD - to address this. The problem is the moment one of the employees become a Director or Managing Director they change color and become ONE OF THEM :)

: @dv+1jkgg26ng

OP here (just noticed my done instead of don’t in my post. Didn’t have my glasses on)

The set up to where we are now started years ago. I’m not saying this was the plan but they have slowly gotten more strict. I’ve been here over 20 years. Most everyone was Meets or Exceeds back in the day (or whatever the equivalent was back then). I remember when they started putting more guidelines in place. People who were exceeds before were then meets and were very upset. But the truth is, they might have just been good at their job. If you’re doing just what’s in your job description then you are a meets.
Fast forward to now with the forced ranking. Before partial was introduced there were just three. Exceeds, Meets, and Below. 10% had to be Below. There was no standard deviation from the curve allowed whatsoever. In statistics there is almost always accountability for standard deviation. In the beginning, the Belows were used as first on the list to be laid off. They still received severance. Now, they are getting “smarter” and why pay severance to the Below performers? Introducing PIP or GO. Today, that’s gone and we’re down to a Dev plan. Improve or you’re out with nothing. It’s really bad for morale and I’m sure there are more underperformers from the stress alone.

Now I’m about to out myself as some know my situation. I’ve been a manager and was promoted early on every few years. I’ve always looked for new opportunities to improve the team’s processes and have never been below Meets. Often times Exceeds. I had a really rough year personally last year and it affected my performance. It happens. Not everyone on a plan is a bad employee. I was honest with my manager but as a long time employee and manager myself, I know that no matter what I am still expected to do my job. It would really hurt to go out like this after all my years of loyalty to this company so I’m super stressed right now. I will absolutely do everything I can to remain in good standing and get back on track.
I hope everyone reads this and has some empathy for others that you don’t always know the situation and please stop calling people slackers or sh-t at their jobs. I hope you never go through anything that would have a butterfly effect in all areas of your life.

May the odds ever be in your favor.

Post ID: @bd+1jkgg26ng

We need work horses like you to keep working and working and working and keeping this place afloat. It is persons like you who do our work and make us get a big fat paycheck for coffee badging , sleeping at the wheel with zero accountability. How can we the DEI can enjoy our lives without the slaves like you.

We need more of you managers who can do multiple tasks 24 hrs non stop and keep this bank humming. Even Robin adores you. Trust me he is part of our group who relies on you to generate the revenue.

Here keep the extra few pennies you deserve - I am walking away with the millions you make says the C-suite to you

@dv+1jkgg26ng

They can do ANYTHING under US law. And then they shut you up with the SUB agreement. It is an individual who has to pay the bills fighting a big firm. Just because the manager felt threatened that the individual potentially can replace (which eventually is happening under P-M now ) can with one line can put you out.

The senior management just plays along. US labor courts are very slow. It took 12 years back pay for my cousin who went to the authorities. The amount of time invested and paper work eventually the arbitration gave him 14,000$ with interest (remember we had nearly 0% since 2008 so meaningless) . Meanwhile he could not get unemployment also - though then there was additional months were provided by the Feds.

Point is .. He had family support AND was able to land a gig in the business run by the family to support himself (lucky he was single ?) until he landed a job in Bay area. Now that 14,000 is no-nothing money for him (Not to boast but to show that these results may prove you are right but money wise it has no impact). If you are in a place with family and children have bills to pay, then you do not have the time at your side to fight these monsters. And there is no point either - why do you want to get back into an organization that treated you badly?

Take the money and use that to land another job. Yes it is disruption but it also shows that you are not valued here. Even if you internally switch , but these reviews put you at a disadvantage in internal interviews , it is still the same organization with the records still stating that you did not meet.

Personally I will take the clean cut - with or without severance is the query - and walk.

Shocking stuff… I’m not an employee in the US. Can someone explain how is this is allowed under US labour law (if there are any…)? ie say an employee had ME or EE for years in a row and then suddenly have BE (rightly so or because of manager having to comply with the bell curve). How can that be enough for dismissal without severance? Understand some don’t even get placed in PIPs… really hard to my head around how ruthless this is…

Dear @bn+1jkgg26ng
Be advised that @bd+1jkgg26ng is not a manager here. Even the worst managers here are not this foolish. This person is a liar, a lunk head, a psychological mess who gets his jollies by coming on here for attention. After a while, you get to recognize garbage by its smell. This poster is all that and some broken egg shells.

: @bd+1jkgg26ng - sounds like a long time, senior manager at this dump… Just wait till he is put on a pip W/o any explanation given whatsoever and his job gets sent to India

@ax+1jkgg26ng - hey genius, I’m aware of how it works. Ive been here 20 years and been a mgr for 15. Although there are mgrs who are di-ks and shouldnt be in the positions they are in, thats a small number. Can you tell me how many employees we have who shouldn’t be here based on performance? I’ll wait!!! I deal with nonstop garbage in this role right down to sh-t attendance and sh-t knowledge with no support from hr who opened it up to a free for all for the slackers. Like i said, Take accountability for your performance. If you got selected as a low performance then it wasnt hard for them to pick you. Don’t like it, do better . Instead you come on here with all your one sided poor me posts knowing how bad you are as an employee

@aj+1jkgg26ng If you were actually a sup or manager that has worked at BNY during the last 10 years you would know they force manager to pick someone to be below or partial. Has nothing to do with actual performance. When they first started doing partial a couple years ago, they claimed it had no impact on PIP. And a high partial could get the same raise as a low meets. This place is shady as he-l. I could understand this happening if the sup or manager actually thought it was justified. Not if it’s being forced to meet some layoff goal and sc--w someone over.

Unlikely anyone will survive.

Or as employees you can actually take accountability for your behavior instead of making it our like someone is trying to get you

First off, I find this approach disgusting. Secondly, if you are being put on a development plan when you know you shouldn't have been, you're more than likely to be terminated. Why else would they have targeted you? Again, it's absolutely disgusting. Seems to me that BNY has found another means of sc--wing their employees, especially their long-term employees.

Whether the employee actually improved or not can be very subjective. If they really want to stick it to you they will unless you are in one of the "protected" categories.

It depends. The plan is set to give you one last chance to get your cr-p together after getting how many throughout the year. Im sure there will be a fee but most people with a brain actually do what they’re supposed too