WARN notice has been filed. Layoffs happening early next week for NYC office people. Goodluck all.
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This is absolutely true, and for those who lived through that era it’s indelibly etched into our psychie. Being herded out en masse, unable to return to desk to gather belongings, crowds of people crying. I can never forget those days.
Fortunately now the Bank is far more right sized and layoffs are rare and limited.
Do actual employees really not understand that the CSC was perfectly designed for a custody Bank with lots of items processing?
And the CSC on Ross is fantastically placed right near the parking garage. Beats the he-l over walking backwards up the hill to the old Civic Arena parking lot in the Hill District where caucasians are routinely picked out for iPhone, wallets and other valuables.
I’ve seen people walking backwards up to the old Civic Arena sometimes walking backwards to watch the gangbangers in the hill district swinging a baseball bat at employees.
Nobody who understands Pittsburgh wants to walk up to the Hill District, despite the incredible Jazz History of Pittsburgh, and to a far lesser extent, NYC.
There is no “retirement crisis”. Many people work cash based off the books for their entire adult life, and many others fail to save because they live beyond their means or need to have a new car every other year.
Responsible people can retire.
@waou, just because you keep reposting the lie doesn't make it true.
Yes, that was Charlie Scharf who gave us the four year warning that Oriskany would be closed and all workers layed off. Charlie was a terrible CEO, but we do appreciate his warning and we all enjoyed a leisurely four years to find our ideal job.
Is it legal to fire people just before their 401K match payout? After they are extremely close to vestment? That seems criminal.
“Vestments” are Priest’s clothing. They have absolutely nothing to do with 401K payouts.
The word that you’re looking for is “vesting” or “vested” depending upon tense.
Is it legal to fire people just before their 401K match payout? After they are extremely close to vestment? That seems criminal.
- What do regulators including the FTC have to say about this? Seems like an illegal bait and switch employment tactic. If this happened to you, I suggest you report it.
Immediately.
Especially in light of the new Blackrock announced retirement crisis.
Why anyone would advocate for deceptive management is beyond me.
@6qne, right. Honesty and respect is NOT a value BNYM managers should portray.
@6bbj+1rFxIekh Not sure what manager/dept that was exactly however to be honest, I’d rather have an honest manager say that. At least that way folks have a heads up. The way (at least on my team) eliminated made zero sense. On my team it was myself and another seasoned colleague in the department leaving just 2 new trainees…zero sense. My previous department that I spent most of my time in, most work has been moved to India. I personally trained over 10 people between the 2 department. In my new (now former) department, I trained one (just got done) and was mid way thru training a 2nd one and was let go at that point….setting up the team for failure I suppose so then it’s more “convenient” to move the work elsewhere…best of luck to you!
@6rtn+1rFxIekh - which mgr is telling staff that because that is not the message that should be sent regardless of if it’s true or not. Upper mgmt has completely destroyed this company, loyal staff and moral. Its sickening to be honest
I knew lay off at the end of Q1 is traditional. Since RV been here, it is no longer valid. BNY lay off MONTHLY, especially by Dec 31 before 401K match to save cost.
Don't walk, RUN!!!
Good luck to you! Did your team have groups in other locations? You are correct about the future of former Oriskany employees because a person who gave us information on this site a day before MW came to Oriskany last year to announce the closure also mentioned that 80% of jobs in this location would be eliminated within 2 years.
I put in my 2 weeks notice on Monday and I will be moving to NC after 16 years @ BNYM. Good luck to everyone remaining in CNY!
The WARN Act applies to private businesses with 50 or more full-time employees in New York State. It covers: Closings affecting 25 or more employees. Mass layoffs involving 25 or more full-time employees (if the 25 or more employees make up at least 33% of all the employees at the site)
NYS WARN Act is 60 days, not 90. As someone who was let go effective 3/25/24 from Oriskany, I (and others) were not given 60 days notice and when companies do that, they have to pay 60 days salary+benefits in lieu of the 60 days. There is no severance, only sub pay, 2 weeks per year of employment. Since Oriskany no longer has a physical office for the RTO standards, it’s pretty safe to say, throughout this rest of the year, staff will be eliminated. A manager in one department already told his staff “you won’t have jobs by the end of the year”.
But typical of bank only Ross St parking garage will be available. Grant st parking will disappear. They said at Town Hall recently the number of parking places will not increase. Correct they are actually being reduced.
They are moving all staff from Grant St to Ross St. ‘cross to Ross’ !!
@4ept+1rFxIekh - first off …relax! We’re aware what they claim about Oriskany and hiring. And you’re beyond wrong about hiring in those locations only. Take a look at the reqs out there cause it’s a lot of various locations including all over NYc oddly enough . And sorry not sorry, NYC and PA need to go. Very high costly places and not a lot of intelligence coming from either
Firstly, they are not filling any positions in a Oriskany the building is gone --it's a wrap. Secondly, even though New York City is expensive that is our main location and I'm sure we have an agreement with the city to keep staff there, as it supports the local businesses around it. Thirdly, any open Reqs will be filled in India, Lake Mary, or Pittsburgh. The "growth" sites. So when they cite ECONOMIC reasons, that's what they mean. Cheaper labor elsewhere...
How can their letter site “economic” for the layoff reason when most teams there have open reqs they’re trying to fill? Go close your unnecessary 2nd Pittsburgh office sitting half empty. Or NY location where you’re paying higher real estate taxes and wages to folks who have no clue what’s happening in their role . Desperate for money BNY? you can clearly save right there without impacting a whole other location
@3tdf+1rFxIekh - I said same thing earlier . Haven’t heard about anyone like the notice and news stated
Very quiet here in oriskany so far
Anyone hear anything about anyone being let go today
The number of people following WARN filings (which, truthfully, I never heard of before) is alarming - if you're truly that paranoid about losing a BNYM job, then good luck. No seriously, you need this job and, therefore, rightfully worried.
You may also be entitled to extended benefits under the federal TAA program
https://www.dol.gov/agencies/eta/tradeact/petitioners/petitions?company=mellon&items_per_page=20
@1ply Incorrect. NYS is 25 or more employees affected. Federal guidelines are 50. Also, the notice is location specific, ie, Oriskany, not statewide.
https://dol.ny.gov/warn-worker-adjustment-and-retraining-notification
1ypq+1rFxIekh - stop acting like you don’t know people who shouldn’t be here still! People who don’t do cr-p or cannot do their job and yet you think they should continue to get paid for doing what exactly? Please enlighten the rest of us who deal with this in their team daily . I cannot wait to hear your reasons
I lost my BNYM job last year when they relocated our team to India. WARN Act in NY state requires businesses to notify state before a layoff of 50 or more employees or 33% of their workforce in the state. 30 employees in Oriskany wouldn’t be enough to require a WARN submission because number is 50. Law requires notification of local governments and school districts where impacted employees live. If 30 employees in Oriskany are affected, then at least 20 or more employees elsewhere in NY state will be affected too. Good luck next week if you live in New York state and work for BNYM!
@1ivj there’s a word for the consequences on oneself for wishing ill will towards others. As a rule of thumb, it usually comes back two fold.
The WARN notice posted in the thread is not for NYC, its for Oriskany. @OP where are you getting NYC from? Oriskany is 250 miles north of 240 Greenwich St NYC Lol
@pbv Look at the document posted below... 600 employees at the Oriskany location and 30 are getting laid off.
I can think of a few that should be on the layoff list.
@hys Where are you getting 5% from?
So 5%... Wonder if across the bank
Dam already did my goals, wish fire me before did them.
Not just Oriskany
It will be a rough few weeks in Wellesley
The notice states 3/25. Nys requires a 90 day notification. Does this mean 30 people will be informed they’ll be terminated 6/25?
Is this separate from the WARN notice for upstate?
https://dol.ny.gov/system/files/documents/2024/03/warn-mohawk-valley-the-bank-of-new-york-mellon-corporation-dba-bny-mellon-3.11.24-2023-0282.pdf
30- oriskany