Does anyone know when the layoff in May will begin?
I think I am being set up to justify being canned. I see the handwriting on every wall in my team.
Meets rating mid and year end last year and RTO compliant.
10 replies (most recent on top)
Forced Rankings have nothing to do with “employee ratings”. Please learn the difference so that we can have a productive conversation.
There isn’t going to be March Layoffs. We haven’t even attempted a layoff since January 6th two years ago, which failed, and February 8th, which was an epic fail.
I wandered the campus freely both days, networking with other old boomers and we saw no hint of a layoff. It was all in all a stress free micro layoff… 1 employee max.
We all had a great time laughing at how low these minute handfuls were as opposed to the thousands being herded out like layoffs from 2000 to 2008.
It it hadn’t been for the boomers there would be no technology to remove drudgery from Operations jobs.
Millennials….what, if anything will be your legacy?
@ew+1jtpgkrde
Correct. BNY’s legal team is quite frankly, it’s best run department. And it has outside firms on retainer for support and expert review. Many people here think these cases are like ‘Matlock’ or ‘Barnaby Jones’ on TV where you are in court within a month and justice prevails. Nope. Delays, motions to discover, stay, deny, appeal, re-appeal, counters etc etc. It moves at glacial speed. And not only do you pay 1/3, you also pay the taxes. It’s ERISA based so no punitive damages. Hiring an attorney who will even try this is not easy. Not saying this is right, just saying its stacked against you
Problem though is they are sc--wing people out of their earned sevsrence.
Honestly, there’s no point in fighting the BNY legal department. I can share a story where the Department of Labor was involved—it took 12 years and numerous adjournments before the case was finally ruled on. Yes, the company was at fault, but 12 years? In the end, it was merely a moral victory. After the representing firm’s 33% cut, the employee received their adjusted pay with interest—though thanks to near-zero interest rates, the amount wasn’t significant. They never held their breath waiting for that money, and there were no punitive damages.
If you do the math, it's usually better to take the severance and walk—unless you're personally motivated to fight back and prove a point. Sure, it might satisfy the ego, but it’s rarely worth the stress or the sheer amount of time invested.
Unless someone is nearing the end of their career and is willing to drag out the process as a kind of revenge ploy, the best move is simply to take the money and run. The probability of winning arbitration is low, and lawyers always aim to settle—taking their 33% cut in the process. After all, they have to make a living too.
I would truly love to believe that RIF narrative but the company's actions over the last several years shows that they are aggressively trying to thwart those they get rid of from receiving any sort of package. Meaning that if people cannot prove that their reviews are flawed(think someone with 10+ years of positive reviews and then suddenly is a does not meet) they get NOTHING. The company is trying to do everything in their power to not pay out severance.
Forced rankings that induce false employee assessments that then trigger pools of candidates to be ousted from their roles. At this point a poor review, whether warranted or not, can eliminate the possibility of severance pay.
These decisions were calculated to save a drowning company that continually thinks they can replace tenured, knowledgeable people with automation, younger people that they think they can control and bamboozle and by off shoring as much as humanly possible.
Agree with saving all documents you have available to you. Once you’re no longer an employee BNY has to obligation to give them to you - and they won’t.
I’m not sure saving all of that documentation is proving. Most likely your not being laid off for cause its a RIF. Take the package.
Take these steps right now if you are concerned.
Save down everything from your employee profile. Especially every single performance document. If there is no true slide in your performance then you will need all of this to fight for a severance package.
Have documented proof of your attendance. Title changes. Changes in workload, responsibilities, changes in management. You’ll want names, dates, times.
You should always keep your own copies of all your performance reviews especially.
Save down your payslips. Be able to show raises and bonus compensation. Anything that proves you were a well performing employee and then suddenly out of thin air you are not meeting expectations.
june