how many people on your current team do you feel pose no value ?
16 replies (most recent on top)
We”re really only a fee based transaction processor at the core. It’s OPs intensive drudgery and we don’t appear to be able to automate to any significant degree. So cuts to multiple layers of management is the only answer. People such as Roman with a big spend and zero deliverables have failed and need to be displaced. You cannot tell me that manual repetitive operations processes cannot be automated. Roman’s had his chance. Next man up and make it a good hire.
Cuts should start at the top with Robin. He is performing BE - stock price continues to drop. As “a owner” he is devaluing my stock
Then look at the ineffective executive management layer & they’re bloated bonuses
Normally you cannot cut your way to prosperity.
However at BK we have 6 to 10 levels of redundant management. The cost savings from cutting spans and layers are obvious. Emails down the full chain are far more efficient than 40 different managers echoing news. Every manager who cannot understand, let alone do, should be displaced. Every “Agile” team needs to trim out the legacy waterfall PMs. Every managerial department should need to justify their jobs.
We have so much bureaucracy that we are no longer functional.
Serious investors in BK stock know this isn't a top-line (revenue) growth company. Aside from dividends, the only realistic play is earnings growth. That means no-mercy cost cutting. That's what Robin is here to do. His mission doesn't include appeasing employees. You think staffing is bare bones now, you ain't seen nothin yet.
(to paraphrase Logan Roy) ...They hired Robin to be a k!ller. And Todd was no k!ller.
Agree - the top level execs are too high paid & too many to be “commercial” & compete.
Cut the execs & their bloated pay.
Heck. RV ‘s job is to make the stock price jump- Its plummeted - he’s BE.
@ezvf
That’s not nearly enough. We need a lot more cuts to get our numbers.
We’re simply too inefficient to compete.
Please oh please can we cut the 12 level span of redundant management layers? Six to eight layers beneath Senior Management should be the target number of layers.
The dozen plus number of CEOs should be reduced to one real CEO. The rest of them are really Managing Directors. The count of Managing Directors must be eliminated to one per division.
If you do the math the savings in costs is inarguable and the efficiency actually improves..
A few hundred people were let go from BNY between late May & early June. With more cuts expected.
Let's get ready for 5 days a week in the office!
Provide no value, not pose no value.
Does anyone know where to find good marzipan in New York City? I’ve been looking everywhere for it.
ME!!!
They need to get rid of the guy on here who constantly testified to his love for Todd. Get a room already!
Get rid of the huge marzipan layer of management that costs a fortune and does very little! So many promotions this year to no value roles!
we have nobody left on our team; they laid off so many and then others quit.
How many Overpaid managers on your current team do you feel pose no value ?
None, my team is running in fumes..there is hardly anyone left! To get rid of anyone else would be a disaster