I'm hanging on for a severance package. That's it. Considering the frequency of layoffs, I don't want to jump ship ahead of time and leave good money behind. I'm determined to leave, I'm just in a waiting pattern right now. I don't care if it's reflected in my performance. I've already given BNY much more than it ever deserved.
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Severance was historically 2 weeks for every year of service. In the case of some office closures maybe they still follow that but that is the exception. The more normal cadence these days is to pay you no or minimal severance regardless of how long you’ve been there. If you are waiting for a package you will likely receive an unpleasant surprise. I know this from personal experience. You will most likely need to legally push them to get anything meaningful. The good news is they do easily cave when pushed given they have no effective internal counsel. They were all fired too. Any legal challenges around this they farm out to Reed Smith.
@c3 its only information Ive read on this cereal box called BNY The Layoff. Proving many people post false information. Thanks for the update- theres hope yet!
@b9 i think CNBC needs to speak to bny employees and do an interview because Robin keeps blowing smoke up their a-s
@b5 no they are not correct about Oriskany. Not sure what cereal box you read info from but put it down because its not a good source for you
@am oriskany manager here. You in fact have zero clue wtf you’re talking about . Oriskany is one of MANY locations closed and forced home. And yes we are getting severance unless you get a poor performance review which is same as always. Piece of advice…if you dont know what you’re talking about, you really shouldn’t commeny
@OP
You need to sit down and put down the BNY mind altering free coffee.
There almost certainly will be no severence for you.
And even if you are lucky to get something, it wont be what you think. Those days are gone.
If you are here waiting for a package, you are just wasting your life. If you can leave do it now
100 people in Uniondale being transferred to NYC next month, no severance packages ever offered
@b9
RV likes to remind LinkedIn followers that he has been a resident of NY for 25+ years and is a loyalist to the state
Hahahahhah LOL!
That in itself shows you he is the epitome of rich effete failure!! NYS has lost 10% of its population in 6 years. NYS leadership is a total complete abject failure that drives people away with tax abuse and poor service. NYS which largely caters only to NYC elites while hurting the rest. NYS which has corroding infrastructure but constantly uses marketing campaigns to lie that it is great for business (AI anyone?) . NYS leadership cares more about foreigners than its true working citizens- think about that one at BNY!
Robin is all of these things. Robin is the epitome of a failed leader who drives people out and away. Robin is truly a loyalist to failed and abusive NY leadership
@am RV likes to remind LinkedIn followers that he has been a resident of NY for 25+ years and is a loyalist to the state.
Our Global Head of Wealth and Investments speaks often about his modest, humble upbringing and touts giving back while acting as a board member of his alma mater, Manhattan College (He earned over $20m last year btw).
Our COO talks about his interest in mentoring college interns, yet throughout his whole BNY career his primary interest is cutting cost by shuttering facilities and forcing out experienced FTEs.
What is it with these folks?
Why do they try to wrap themselves in this bogus altruistic, philanthropic tripe?
Is this what they mean by leadership by example, proper stewardship and social responsibility?
If so, then why are these actors and their phony optics not resonating with BNY employees? And yet it seems there is a mutiny almost every month over something else they do to intentionally degrade workforce quality and culture... while at the same time touting their personal virtues.
@am+1ky70152f You are correct about Oriskany.
I had the same mindset as the op for quite some time, but decided to leave on my own. Once I saw they were sc--wing people out of the severance they had earned
@ae Lol Oriskany would beg to differ on that. Their office was shut down. They were moved to wfh and are now being exited with no severance for not being in an office. Anyone from Oriskany care to verify this?
Unless you're in an office that has an impending shutdown, it's highly likely there won't be money on the table for you and you'll be exited for performance issues.