I'm a Gen X'er who has been here over 20 years. With a few exceptions, almost every person who I have ever been on a team or worked closely with, has been laid off. Some are doing well, others are still out of work. Some have retired. Some had to change careers entirely. And yes, some are back here. Many different paths. But somehow, I am still here. I must be doing something right, or be in just the right sweet spot to have remained employed through all of this. Or perhaps it's been just sh1t luck. I may never know for sure. But I really have no incentive to look for another job right now. First off, this industry is dying in the U.S. Good and safe financial services jobs are getting hard to come by. Secondly, with sub-pay and unemployment, I'll get nearly an entire year off paid if I do get cut. So really, I just continue to come in here and do the best I can with the hand they've dealt us, and let the chips fall where they may. Am I as motivated as I was say 10 years ago? No - absolutely not. But I still try to do the best I can to make things work. It's not always easy, but as long as they continue to pay me, I'll produce and perform as best I can (within reason of course - my days of working extra hours on a regular basis are over).
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Worst run company I ever worked for. New Jersey mgmt were useless. Co-workers were di-ks. Major long time goldbricks worked the system.
I’ve heard a lot of rumors about sub pay getting cut in 2025. Some from mgt who are leaving as a result. Is this legit?
Displaced employee here - last day was Wednesday . Gen X and received paperwork to attest to the fact that everyone was a boomer or gen X with one slightly younger.
I don’t think a lot of people understand what a “Boomer” really is. There are not many Boomers left in the workforce at this point. The ones on the brink of Gen X are around 60 years old right now. Most of the more experienced work force in the company are Gen X. Even most of the EC are either very young Boomer or Gen X.
My whole team of 10 people, all 30’s & 40’s
@1jvy+1ufxyV8y - where do you mo--ns get your facts. 75% were boomers or oh this was all boomers. No tf it wasnt. There were many out of my locations let go who werent “boomers” as your d-mb a-s states it. Stop spewing bullsh-t
2gue+1ufxyV8y - wtf are you talking about? Maybe boomers in your location got hit this round, but not where I'm from. Alot of younger people with many years of knowledge and experience were let go. And for what? India teams to take over when they cant tie their shoes without repeatedly being told how. Gtfoh. This place has become a joke and painful to stay at
It’s only a lot of boomers this round because the last couple years have been mostly about laying off staff I and 2 after training Pune to take over. After staff was let go only the supervisors were left to monitor pune’s progress. Once BNY realized they needed more supervisors in Pune they decided to get rid of all US supervisors and move those positions to India. Most of what I saw in the last couple years was supervisors being let go until there were none. And of course there was a round of layoffs sprinkled in for middle managers since there were too many managers in the US since staff are gone. So of course as the lower levels are chipped away all that’s left is for the boomers to take the hit so it finally caught up to them. As time goes on they’ll just be more layoffs until only growth centers are left. I mean who would relocate for this company? I would have to give up my low interest low principal home loan to buy a more expensive home for the same stinking salary. Doesn’t make sense to be house poor for a company that doesn’t care about me.
@1mwm 100% NAILED IT!!!!
Wow… hyperbole much?
What if perhaps you didn’t spend all day every business day on this board while you’re “working”, good things could happen for you as well? I’d posit that good things would inevitably come to you.
1dym+1ufxyV8y
You are a silly son of a b. Is this age grouping nastiness how you get personal fulfillment each day? Your family must all have restraining orders against you.
This entire thread is a heartbreaking primal millennial scream for the fast return of their boomers.
I just love it. No generation ever received this much guidance and tutoring.
Now tell me… who but Senior Management didn’t see this coming.
If you know that the layoff was 75% Boomers, then you know how many in total and what the breakout was. By all means, enlighten us. We'll wait...
Nieve is on the show Catfish. Were you thinking instead about how naive that you are?
The Bank has never cared about its employees.
And this is new to you?
Attention recently displaced boomers….
You can now literally name your place. Take advantage of Senior Management’s clueless displacements. Name your price and be ready to walk. You have the power now.
Oh no! Where are our Boomers? What do we do now?
No, of course it wasn’t all boomers. But boomers did represent over 75% of this layoff… and let’s be honest here. This is exactly why the last 4 cohorts are in a tizzy.
Time to rise and shine children. Show us what you can do.
The “Everyone is dispensable” mentality has always been true here. I’m truly sorry to break that news to you.
Wow. Maybe look up the word "sarcasm" before you go making yourself look like a fool.
@1qkp+1ufxyV8y - another example of why bny su-ks. A nieve ta-d. Oh yes you’ll be a million. Ugh huh. Right. Mo--n
@1koo
You actually think only Boomers were displaced?? OMG. First it was "there are no layoffs" and now that there was one big enough that you couldn't ignore it, you try to say that it was just Boomers. Put down your martyr cross and GTFO!! There were hardly any left BEFORE this week. It's about location and salary, jacka**!
Stop making this about generations. I am Gen X and know I will be laid off. Age doesn’t matter when they are wiping out entire offices.
How are you going to find work life balance when you aren’t engaged in a job search?
If any of you would work the same amount of hours as you spend on this board I’d bet that you would be promoted.
Who cares about what you all feel? BK is reaching new high almost everyday. That’s all matters to the people at the top. And, with our ownership of 4 BK shares, I will be a millionaire soon and will be happy as well!
How can you say that, didn’t you hear RV in the CNBC interview bragging that they give us free coffee?? He legit thought that was a huge thing to present. And he said culture was more important than compensation …I encourage all to watch it.
To the plethora of new college hires, leave as soon as something better comes along. This is no place you want to be. If you’re interested in selling your soul, go somewhere that they pay better.
Sad when this entire post is spot on.
Yes this place is horrible. Everyday I work it gets worse and worse. I have no motivation or care about anything as I know they will get rid of me. As far as our replacements they are horrible. The ship is sinking fast and they are clueless. We are getting further and further behind on our work. It is just so frustrating and mentally and physically exhausting. Can't wait for it to be over.
Sorry team we laid off one of your most knowledgeable teamates but dont worry we have gotten approval for a new temp. So although you are raw and not fully trained we have yet another temp for you to train while you are under water on your desk.
they really think college grads are the future. they all leave after 1 year anyway
Beggingforthepackage
Your post really hits home. You apparently come from the same era as I do. Where you were thrilled and honored to be a member of BNY. You remember how it was…… when the company was run by gentlemen and ladies who knew and CARED where their strength came from: Us. And now, the bottom of the gutter has come to power. It is a sorry end this place is heading to. Honestly, if you were an investor or client knowing what you know here, would you invest your money here? This current team is not interested in tradition or company value. Only inflating the stock price. Things are not good.
Every day I go to work I treat like it’s my last day on the job. Zero care. Why would I care? I cared for far too long and quite frankly it hurts to be treated so inhumane. I would work every weekend as a salaried employee for scraps for years, why? Because I was dedicated to our clients. I respected my management and I wanted to do the best job I could. For what pray tell? Nothing. I concede, the place su-ks. Imagine working somewhere where not ONE SINGLE one of your colleagues is happy and they hate the place? Run run far away from this place you college interns…
@1jlm That policy where Pune can’t contact the client will change as more training is done and more US employees are let go. That was our policy too several years ago. But as our team shrank, the do not contact the client changed to they are now allowed to contact them. There aren’t enough people left to be able to contact the client on every inquiry.
You can tell quite alot about an organization that abuses it’s people by keeping them in a constant state of fear, chaos and instability. It is only a matter of time before clients and business partnerships get the exact same treatment. Employees keep hoping it stops and goes away. But clients once treated this way, know better and look for new providers.
Train Pune, interesting as they currently do not allow these widget pushers to communicate directly with clients. This poses serious concerns for a "Client Obsessed" mantra. Things that make you go hmmmm. College Grads, what college grad in their right mind would apply to this company knowing that they are on a chopping block at any given moment.
These people in the comments are not only training " new people to take the place of my coworkers" They are also training their replacement.
Step 1: train Pune to take over work. Step 2: lay off all the people that trained them. Step 3: fill in lower level US job gap created from layoffs with hiring lots of college grads. Train those new hires. Step 4: layoff next level/ lowest level of remaining managers that trained them. Step 5: pretend layoffs didn’t happen.