Hiring Freeze = Shareholder profitability?

On our weekly team meeting, our manager informed us that we will not be receiving anyone to fill 3 positions even though we are up to our foreheads in our own work and to add on top of that, we are doing some of the work of another team that is also short 4 people. As he was told by his manager, the hiring freeze is due to everyone wanting to increase shareholder profitability and being more for our clients. I know this is corporate America but I’m drained, depressed and beyond frustrated with this company. I can’t wait to get out and hopefully not from the window at this point

Side note, anyone know what the ocap kids in Pittsburgh are making because I’m stuck at G level with no increase in pay in sight besides leaving the company, which is what i’m currently trying to do since I can’t move in house because of the freeze

Comment! It's anonymous!

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$60K for Pittsburgh OCAPs

@AS I agree with all your points and have one more to add. The fish rots from the head.

Robin Vince for all his vindictiveness has destroyed the legacies of two iconic American banks and has inflicted significant and irreparable mental, physical and emotional harm on many dedicated and loyal employees. This will be his lasting legacy and he has justly earned it.

Your manager hopefully is maintaining a loading chart that shows all the efforts going on, the estimates for each and every one of those, the active projects and efforts and then all the people fitting in. Each person on your team onshore amd offshore, should not be allocated more than 160 hours a month. If they are, it is wrong. And the stuff not getting done needs to go back and get escalated as to why- shortage of people. Only in this way will people understand the rigged con artist shell game going on here. Me and my manager do this and basically tell people No and here is the
Proof. Worst case? They fire me. So what.

Like all corporation while you work more hours for free they will ask for more. Eventually you will break and they will get rid of you or work out cheaper to hire in another country and get rid of you.
So sum up dont break yourself, look after your mental health. To the company you are just another number.

Reducing expense is the only way for this management group to boost the stock price. The only expense line that can be quickly and materially reduced is compensation. Expect hiring to be delayed indefinitely. Expect that there will be continued layoffs and terminations for cause. Expect work to be moved to lower cost regions whenever possible. Expect raises and bonuses to be lower. Expect to be asked to take on more work and responsibility without additional compensation. Expect that the company will make your work life more difficult so that you leave on your own and they don’t need to pay you severance. This is what we have been living with and it will continue. Remember that this company does not care about you!

Thread regarding Bank of New York Mellon Corp. layoffs

Hiring Freeze = Shareholder profitability?

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