Thread regarding Bank of New York Mellon Corp. layoffs

Next round - December or January

November has come and almost gone.

Wave 3 is slated for March 2025. Jan 6 is the beginning of the PI Planning. They need to carve out the structure before that. With lean December - with tons of employees on vacation schedule and the 2 weeks refreshing window - there is not going to be too many meetings unless the management is over-working (in my dreams!)
HR has to be working overtime to produce those lists and coordinate them to deliver a XMas gift - again something that is day-dreaming

With the above reasoning December will also be a lean period in lay offs (my guess) with Jan coming in (Jan 6 - another ominous day?) back with a roar.

Your guess on these query..

If one is knocked off on Jan 6th week - with the Bonus and merit increase ( ha ha ) declared Jan 2nd / 3rd week will the person see anything as far as Bonus goes ? Any prior experience as a guidance. From a colleague who was LO'd last year she got the Bonus prorated based on the prior year bonus. With the market doing so good with respect to the stock price, that may be a significant amount that one may end up losing

What are the chances that one can be hired back as a consultant due to her/his experience to keep the ship afloat while they train the new analysts - even figure out whether the biggest disruption will pan out?

The chances are I may be let go as my management may not have a strong voice but to keep the department and processes running they really do not have the know-how. As long as it works they are good when there is a client query - no one has a clue.

Wondering whether I can/should come back as a consultant. Risk is I will lose SUB payments which may be significant too.

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Post ID: @OP+1vvK6hCp

5 replies (most recent on top)

Would there be a big January wave and then March? Doing RIFs for BAH employees I’m hearing (in areas where office has closed)

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Post ID: @5krp+1vvK6hCp

There have been layoffs in the beginning of December for probably the last 4-5 years at least. Were they significant numbers for BNY overall? No, but for certain locations they were.

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Post ID: @icx+1vvK6hCp

January third week. It’s also when frozen reqs will be re-released for India. That’s a hint and a half. India job market is not as hot right now so HR figures these roles will get filled PDQ. And yes efz+1vvK6hCp this place is completely rotten.

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Post ID: @ady+1vvK6hCp

Don't do it! Don't let them fool you... you're better off this way, trust me.

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Post ID: @efz+1vvK6hCp

@OP

Do not come back. You are not going to save the firm.

Simple math : Your contract and take home must be 200% of your total SUB. Please note SUB also includes unemployment money

Put some premium on your paid (!) time off. Good luck

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Post ID: @ujo+1vvK6hCp

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