That's what it feels like to me, with the unrealistically increased workloads and constant bullying we have to go through every day. Are we too expensive to lay off so they want to get rid of us this way before we can retire? Call me paranoid, but this definitely feels intentional.
35 replies (most recent on top)
I agree with you, but not your assessment of the labor market. It’s been a really hot job market for the past three years. Everybody with a decent skillset and not afraid of conducting a job search is really getting highly rewarded.
Please, tell us about your lawsuit and the legal theory, how it went down, etc.
It's obvious downsizing would affect mostly older people when your employees are mostly older people. BTW, there aren't very many boomers here anymore, they're mostly genx.
@@redt+1tP3OXfn
Shows your level (of information ?) comprehension ..
The post's gist is simple
You never signed your soul to the bank nor they did. It is a hire-n-fire environment. And you joined the firm with both your eyes OPEN.
It does not matter whether after 20 years you make 200 or 20. You are a cost. And if the CEO can reduce the cost he/she will. They most-likely never touch the teams that BRING IN the money.
“ https://www.thelayoff.com/post/@mnpz+1tP3OXfn
What is your point You have been a loyal worker for 20+ (say) years. You make in the 200s (say). And your work can be done by a school kid (you may deny it but unfortunately you will be wrong) with some training and automation for 1/3 salary in US and may be 1/10 salary in India.”.
I’m sorry, but this is hilarious. Far less than 1% of employees will ever make in “the $200 thousands”. Banks are operations intensive and pay is very top heavy.
This could well be the most uninformed post ever.
Lease
https://www.thelayoff.com/post/@mnpz+1tP3OXfn
What is your point You have been a loyal worker for 20+ (say) years. You make in the 200s (say). And your work can be done by a school kid (you may deny it but unfortunately you will be wrong) with some training and automation for 1/3 salary in US and may be 1/10 salary in India.
As a CEO , answerable to the share holders, cost cutting is one tool. And if he uses effectively (and you are at the receiving end) why is it wrong?
Did anyone from the bank sign a note that they will keep you employed until you declare retirement ? No
Did you sign off your soul saying if a better opportunity shows up you will not desert the Bank ? No
Unfortunately you skill set did not land you the cozy job at competing banks and now you are dispensable.
Are you wiling to work for 1/10 or even 1/3 of the salary ? No
Give me one reason why the bank should retain you ?
This is REALITY ! Keep up the skill and be in demand or fade away .. The choice is yours.
Not all locations have a lot of open positions available. The longer someone works the more they’re looking for - salary, time off etc. To insinuate that people are lazy and not trying to find work is insulting to say the least. Your situation is not the only situation.
So… what keeps you from job searching?
Self assess honestly, correct any deficiencies and find a great job. It has been very easy to find a good high paying job for the last three years. Everybody winds up better in a new job outside of BNYM.
It’s been a great few years for a job search. Lots of positions and employers have to pay up due to inflation for anyone with a solid skillset. If you’re still at the Bank why haven’t you initiate a job search?
Not true. The Bank never treated employees of any age very well. It’s always been “What have you done for me lately?”.
And that starts the very next day after any major deliverable.
Managers in CNY who can’t manage people because they’re so rotten are now managing projects. Why not start with this bunch of employees?
Sad fact is that cheap young labor is where it’s at for corporations now. It’s virtually impossible for someone in their 50s to get a comparable job once they’re laid off. Thanks BNY sh*t show.
OCAPS are as useful as HR and C-suite executives.
Will they ever be taken to account or the ageism I and several others experienced there?
Is this just a vent board or is there a class action attorney / regulator taking names and experiences at BNYM?
i heard they may offer packages if your over 60 making 175+ by end of year
Yeah as a recent layoff I find all of the social media around the interns gross. Celebrate your employees half as much and maybe it would be a better workplace.
——
💯
Yeah as a recent layoff I find all of the social media around the interns gross. Celebrate your employees half as much and maybe it would be a better workplace.
@2jxz and 3anu
I am referring to those older employees who have no life outside of work and continue to work only because they wouldn’t know what to do if they retired. They have worked many years and have smartly saved for retirement, but have no hobbies or friends. Get a life and retire and allow a younger person to begin their journey.
Let’s just put it this way:
There NEVER was “comfortable days of excellent, loyal veteran company men and women who dedicate their careers to knowing this place and its operation are over.”
This place was always a sweat shop and layoffs were far deeper, far more often and wide ranging than our current era. Lifers had to grind it out big time with 60 or more hours a week for damn near everyone.
OCAPs - "The Operations Campus Analyst Program seeks to recruit and develop highly talented university graduates, from any academic field, that are eager to begin their careers within BNY Mellon’s Operations department."
What are OCAPs?
@ghl+1tP3OXfn - thats because they think the OCAPs are their savior and much smart than us. My mgr continued to go behind everyone's back and pushing for extra money, raises and a sr title for the last one we had. Now smart she was, but she didnt see much of the process so how tf do you push her pay higher than staff who have been here far longer and doing way more. Its just more grimy bs
@2kwb This is the most entitled statement I've ever read. Also, read the room, no one is riding it out at BNY for the sheer Joy of it.
If you’re continuing to work when you’re financially set and have medical insurance outside of employment benefits, and you’re working because your only friends are co-workers and you somehow have no hobbies, then you are taking away a job opportunity from a younger individual. Retire already.
Nobody hates the Bank more than 42.
@1blc+1tP3OXfn your current role was most likely posted as an opening; however external and qualified candidates are deemed too expensive and you were then presented with this amazing career mobility opportunity. This is a newish tactic for BNY. They post to stay "legal" but have no intentions of ever hiring from the outside.
In order to appear to not target older employees, younger employees are also terminated. This is why lawyers are involved in every layoff as well as why Jolene was our last Hr guru.
Yes. Ageism is rampant at BNY. I guarantee those who get laid off in Sept won’t be under 45.
I've been here a long time. I was moved to a new department against my will, doing work that is not all that close to what I was doing before.
I'm now working 12 hour days just to stay afloat because they don't staff projects appropriately, only to be constantly told I'm failing.
All of this is to set me up to fail. It is destroying my mental health and the job market being so sh---y right now has me trapped.
No Dermhead, my severance is not a charity as you claim. It's about 30 years of dedication and service to this company. You have no right to force rank and not pay me my full year severance.
You want older people out, show respect an pay you MF.
This is absolutely happening, it's such bullsh-t.
Robin and puppet Dermot.
After 2 years of exceeds expectations ratings I was moved to a new manager and all of a sudden I was a problem. Reviews were "below expectations for 4 years and my bonus cut in half for each of those years. Finally they gave me a severance package with 26 weeks after the pandemic. It was brutal, but I called it as I saw it and refused to go away quietly.
Let’s just put it this way: the days of excellent, loyal veteran company men and women who dedicate their careers to knowing this place and it’s operation are over. Why? The new management does not want 10, 20, 30, 40 year lifers. They are too expensive to keep and maintain and too neanderthal and threatening for the DEI taste. The top likes cheap disposables and also the latest trendy, pop and glitz fads (AI, agile, Mckinsey etc etc)
Yes.
I won my harassment case against bnym. I am a younger employee that has been at bnym for about 5 years. bnym doesn’t even want US employees (younger or older) especially at all it seems. They are offshoring because they want cheaper sustainable labor with less regulations to treat them however they want.
Yes I think so but I don't know if this is just exclusive to older employees. It now seems like everyone I speak to is that their absolute wits' end.
The funny part is how much they cater to the interns and OCAPs, but even they are starting to see through the BS.