I am very worried and stressed because I feel like the layoffs here are constantly going on and I have not been able to relax for a long time.
I'm starting to wonder if getting laid off now might not be such a bad thing afterall. Otherwise I'll just have to worry about becoming a target next time around. Very frustrating.
Monthly layoffs LOL. We’re at the lowest level of layoffs in decades and have been for three or four years. There’s a lot of issues here but layoffs are not among them.
There is an upcoming layoff for those employees who are snubbing Robin’s return to work in the office requirement. These people should not get the package.
There is no RT group, but there is a sicko using it with gross se-ual allusions. It’s been posting this vile stuff for years, changing words every time that it’s been banned.
You can be as paranoid as your nature requires you to be. But making up your own facts can only be bad for you. Layoffs are extremely rare and far fewer than at any time in several decades.
Don’t be worried and stressed. If you read this forum you realize that the real worry is the drip, drip, drip of constant benefits cuts. That’s why we almost never talk about layoffs here. Only two super small ones this year. Each under 1%. We used to do 10% per year from 2000 to 2008, no exceptions.
There is no reason to stress about layoffs. Now unreasonable work loads and poor workplace situations… that drives depression.
I'm starting to wonder if getting laid off now might not be such a bad thing afterall. Otherwise I'll just have to worry about becoming a target next time around. Very frustrating.
@3zhf, if we wanted the best employees we'd pay and treat them a whole lot better. The firings are nothing more than getting rid of expensive well educated workers and replacing them with third world workers.
Based on the bell curve, we are going to displace some percentage of employees annually. After all, we only want the very best for our firm. If you want to be off that list, 1) throw your staff under the bus. 2) throw your peers under the bus. 3) be unkind to your subordinates and adopt a punishment culture. There is no team anymore, every person for themselves.
You can downvote me, but I didn’t make the rules. It’s those fierce leaders that rule with an iron fist that get the rewards.
One of the worst run banks in the world!
What is the “RT” group?
The prevailing trend in the UK indicates that while there are currently little layoffs, many new job opportunities are being advertised in Poland and India. This reflects a prioritization of cost-saving measures over other factors. Looking ahead, it is reasonable to expect that this emphasis on cost efficiency may extend to countries like Serbia and Bangladesh within the next few years. Ultimately, the outsourcing of jobs to countries with lower labor costs is driving this shift in the job market. Other companies have previously adopted the same approach and brought jobs back onshore. A very shortsighted strategy focused on rapid cost savings which doesn't surprise me.
We don’t have monthly layoffs, not even close to it.
In January alone we learned hat HR itself couldn’t even manage a small sub 1% layoff. We used to displace 10% per year from 2000 to 2008.
There’s a lot to complain about here but monthly layoffs aren’t happening.
I understand your concern particularly when we work for a bank that does monthly layoffs. This place couldn’t care less about your productivity and work. Their priorities are their delicate feelings, “collaboration” i.e. talking instead of working, RTO (that’s a combination of their feelings and desire to goof off). The best advice is to lay low, do the bare minimum and don’t volunteer for anything. Keep your head high and focus on your health.
From where I sit, it’s not being allowed to replace people who leave is what’s ki-ling us. I guess that’s one less layoff, but we’re running far too lean to be able to deliver a good client experience.
You can’t worry about something that’s beyond your control. I’m at the mindset now that every day can be my last day. You can take back that control by trying to find another job. Good luck 👍🏻
@1foj+1n6S2f6T - I think you need to stay awake. Layoffs happen every quarter . Some locations quite a bit. Only one year during covid did they hold off on them but picked back up last year. I should know since I’m part of mgmt
The RT Group grows stronger and stronger
We had one sub 1% in January and a smaller one this week.
There’s more than enough to worry about but layoffs have been rare for 3 years now. Layoffs are not constantly going on. They’re actually rare.
We won’t have to worry about layoffs much longer. Paul and Alejandro have a new hot take that allows them to force managers to terminate employees for cause as part of their PIP or Go program. This forced termination plan forces managers to term employees with no package or benefits. Just when you thought BNY couldn’t get worse they find another way to sc--w their workforce.
There is life outside BNYM-
Then it's time to leave.