Anyone comfortable sharing?
15 replies (most recent on top)
@fr I did not sign their release until they agreed to pay me for a year. I blindly contacted and interviewed 3 labor attorneys with good reviews and hired the one I was most comfortable with. Their fake performance reviews and other nonsense like shifting severance or no severance are not technically illegal as was explained to me but would look bad in litigation for them. Need to use a ‘protected class’ issue. Those are illegal. When you consult with attorney will find out is not that difficult. I settled in under 2 months without going to court. Hope this helps. I am a little surprised this is still going on. Not sustainable in my opinion. Best of luck to all of you. I sincerely mean that.
@f9, if you have documentation, I’d fight it. This is a blessing in disguise. BNY is toxic trash.
@f1 can you advise what steps you took to challenge so people have an idea what to do and where to start?
@f9
Very sorry that 15 years of your life, dedication and professionalism were met with lies, deceit and cheapness. I am noticing not only a sharp decline in employee mental state and well being, but also a drastic increase in anger, bitterness, resentment and hate due to BNY’s underhandedness and grifting.
This could become a dangerous toxic kettle boiling with the lid on.
@OP they shoved me out the door with nothing. Just 60 days notice. 15yrs, 14 of them with great reviews, carried a trading desk though some pretty ridiculous situations, good reliable team player and the 15th year, with some bs reason that made no sense, they X'd me. I still don't even understand what they were telling me their reason was.. I was meeting all attendence specs, doing my job and others' as well, on and on. I hope this bank chokes on a di-k via robin
Severance seems to be a moving target. Originally and as recent as a couple years ago it was two weeks for every year of service. When they pulled this nonsense with me and I was let go a little over a year ago, they tried the 3 month continuation of pay vs lump. I hear others referencing 3 months lump and now most recently one week per year of service. Basically they’re trying to pay as little as possible. In my case I was there a long time and would LD have received a year severance under former practice. They did not do that, I legally challenged them, they quickly caved, and I was paid a year salary as a settlement without going to court. No bonus, no cobra stipend but I had a check in hand within 2 months. For anyone who is dealing with this and has been there a long time, I would encourage you to challenge them. They have no viable legal department. I’m sorry to hear this is still happening. I thought maybe it would stop. I guess not.
@aw , how many years of service you have?
Any losses in risk ?
1 month notice period, 12 weeks lump sum, and a lump towards COBRA (even if you don't take it) - just over $2K.
Several people were fired today and report getting one (1) week per year of service. It’s apparent that even bad terms can get worse.
BNY has started their purge of the older more expensive but qualified and experienced employees
Today several people were terminated and they got 1 week of service per year.
Even severance is worse if you can somehow get it
I am hearing that some unfortunate souls are now getting just one (1) week per year of service. There were eliminations (aka layoffs) today and several reported 1 week per year.
I don’t know how BNY can get away with this.
Is there a way to download the separation pay plan PDF document from home? In My Source, it is under Personal Finance section
If you get it, its 2 weeks per year worked.