And the cuts? They're purely by the numbers. It doesn’t really help if you’re actually the best, because skill and experience come at a cost. Don’t bother standing out with the quality of your work, intentionally or not. That just makes you easier to spot, and easier to cut.
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The ratings are definitely a means of laying off unwanted staff. As of my 14 years here, in the past 2 years I have seen the ratings system used to call out non-existent performance issues based on one-time situations, especially if the manager does not favor the employee. If you receive an off track rating it’s only a matter of time. The even bigger issue is that due to these blown out of proportion performance issues, the company is validated in terminating your employment without benefits. You could have worked here for 20+ years or 2 years, you’ll meet the same fate of no pay, immediate termination, good luck with your future endeavors, and oh wait don’t forget to sign this document saying you can never bad mouth BNY. This place has changed drastically since RV took over, but he’s not the only problem up top. They are trying to rebrand the company without offering the benefits that match. The employees are just numbers and I have to say I am no longer proud to work here and can’t wait to get out. I understand a business has to make money, but this is no way to treat once loyal employees.
@ae apparently not replaced, but cut.
Nothing will change until multiple big clients start to leave. If they stay and keep paying the discounted fees that were negotiated to keep them during the last contract review, then just expect more of the same.
You could be the most productive, efficient, client minded, conscientious, intelligent and loyal BNY employee ever. But if you are making over $150K in salary and benefits, then you are no damn good to RV’s strategy and you must be replaced. It is why we need tariffs and penalties on companies based here that double cross domestic workers for cheap, filler offshore substitutes. As for AI ready go, keep on dreaming.