What date in Nov are the layoffs happening?
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I've been hearing this "rumor" regarding 'the end of 2 weeks per year package" for like 10 years now. I doubt very much that this is true, and I certainly hope it's not. It would be a total game-changer for many of us here, and quite risky for the firm to implement. This company is not very risk tolerant. I'd put nothing past them at this point, but until I see a sub-pay policy change in b&w, I do not believe it.
But there simply wasn’t “a big round of layoffs in September”. There was a small sub 1% practice layoff in Sept simply because it has been several years since we’ve had an appreciable layoff. This is nothing like the 10% annual layoffs from 2000 to 2008. These are relatively small reductions in force. You have a better chance to hit the daily number than you have in getting layed off.
The November people aren’t winners because of their 401k matches and the earlier group doesn’t. The November people are victimized because they are the first major layoff since Charlie’s August massacre which means that these displacees will have to fight to find a job when bankers
Thankfully for them that they were not deeply affected.
In effect they got lucky, so good news.
Jeez, Sept was a sub 1% layoff. They simply don’t get smaller. Obviously a practice run since there haven’t been significant layoffs for at least 5 years.
Ain’t it fun to make up TLAs which nobody but you can interpret?
Robin has nothing to do with the American Medical Association.
To the D.E.I. Hires… We understand that you receive white glove treatment from HR and also that it would be quite rare to be displaced. Still, it has happened before.
So take the following actions:
Learn your Employee ID… memorize it if you can. You can see it in the HR portal and you likely have saved it off twice per year when you print it in HR training. Learn and be sure you know your COMIT ID and password. That is the username and password that you use every day.
Go to the HR Portal and make sure that your email address is correct. Understand that your Bank does not have your Checking account information and does not keep your Paystub and get a copy of it. If you don’t know how to do this, ask a non-Target demographic such as an old white male.
Absolutely. The far left Banks have led the way in fighting against the old, the white, the straight, the educated the Christians, the conservatives and most importantly the all evil old white male. While the DEI groups get unprecedented access to the “get to know the leadership” meetings, the vanilla straight white male with a serious degree in technology or business is demonized in both treatment and layoffs, the last to be hired, and only when you really need a good hire and the first to be layed off in a downtown.
Many of us fall into all seven of the undesirable categories and we’re painfully aware of how the Bank hates the fact that we run rings around the target demographics.
This is true. Back in the real layoff era of 2000 to 2008, where we displaced 10% per year, every year, no exceptions we learned what to do. When they perp walk you out you have no chance to obtain your possessions. Sometimes coworkers are good enough to gather them for you, but sadly many coworkers steal your electronics and valuables..
We removed all valuables, pictures and personal affects from the bank and walked in with everything we needed in our pockets. We knew that we would never receive our possessions.
@wdw, no employee should have files that aren't centralized whether they're being kicked out the door or not.
Totally incorrect information.
Pittsburgh, New York, Pune and a few other locations will NOT be deeply effected (whatever the heck that even means). They may however be deeply affected, which in effect, is the word, is the word that you are unable to learn.
Allow me to guess… University of Phoenix Grad majoring in remedial studies?
It takes an act of god to hire a non-D.E.I. candidate and not even god could displace a D.E.I. Hire. Again… even if they have no qualifications or skillset.
You get told to come into a meeting with your manager for one on one. When you turn corner security is there and they escort you off the floor to security office. At that point they tell you you are laid off and give you your package which is contingent on you not suing. You have like a week to decide. Your manager asks what you need immediately from your desk. They will box and mail you everything else. They escort you out of the building.
Protected classes are workers who are hired for race, ethnicity, s-xual orientation, s-x, or any other hot new hiring target fad… everything but skillset, talent and proven abilities. It’s been a trend in banking since the mid 1980s and it grows worse every year.
Hr took the cowardly way out like 5+ years ago and started making the managers do these notifications. The call would be from your manager or their manager.
You're usually not required to finish the day
Anyone got a hint from their manager yet?
But the real question, in effect, is “will they be deeply affected?”
If you ever have a chance to accompany Robin to Davos in his RV take it. This eating bugs and liking them is BS. Dude knows how to par-tay with Bank money.
RV - ceo
Whats RV stand for?
In the eventuality one is let go, what’s going to happen typically?
HR calls you out of the blue? You have to go by the end of the day?
So by analyzing names for being in a "protected class" this woke organization will be laying off people with race as a determining factor?
I’m hearing Nov 6.
Rumor is this is the last round for the 2 weeks per year package.
Going forward it will be a max of 12 weeks.
Management will look to let go of long term employees that were good and close to retirement.
That’s the DEI group for you…for starters
Wait ....what is meant by "protected classes"?
Why would Nov layoffs get matches but Sept layoffs not get matches? What is the reason there?
In our area, managers gave names to our MD. The MD picked the final names which then went to HR/Legal for them to run stats. Based on the stats(if too many protected classes, etc) some people are removed from list. This was all done 2-3 months ago.
Second week of Nov. Fall back date: Nov 14
What about the WFH “location”?
Since when is the decision to fire staff known to managers?
Were they picked from upstairs or did managers actually have a say who?
Haven’t you heard? The new buzzword is “operating leverage”. Only two levers to press: increase revenue (impossible at BNYM) or decrease expenses. Guess which Rockin’ Robin will press?
I thought we just fired people in October. Now again? RVs margins need to be improved
@wdw welp, that covers pretty much everyone in the Oriskany office.
Start listing names if everyone is so confident here. At least people know to look elsewhere
Is Pershing part of it?
@gcc+1pfm21HM
Well they are.. it's 6th-8th
Who is impacted? When were the names selected and did the managers have power to select?
I think it is terrible that they did a big round in September and are following with another round less than 2 months later. The November people get their 401k matches and the earlier group doesn’t. That doesn’t seem fair.
Look for simple, yet obvious things:
- Are you being rushed to finish your part of a project by the end of the month?
- Has your manager stopped including you in conversations that you were usually a part of?
- Are you being asked to centralize your files or make sure that others have access to them?
Things like that.
10% ???? Why is there no announcement? RV announced reduction of roles last time in Feb!