Thread regarding Bank of New York Mellon Corp. layoffs

Well, their new Furlough the Contractors two days with every holiday smacks of money trouble. If you're a contractor, consider whatever rate you're being pitched when converted to a yearly salary and then knock about 10-15% off that, give or take depending on what your rate is to project your true earning rate there. Especially in fall/winter holiday season, you're looking at nearly three weeks of forced time off in time for the holidays and the official paperwork from the company indicates this is the new status quo for "just a contractor." But layoff usually follow furloughs and I know they're planning to consolidate the Houston office to one floor from two. The talk is of "desk sharing" but you can bet some folks will simply be losing desks altogether.