Thoughts? Any Bank of New York Mellon Layoffs in 2019?
246 replies (most recent on top)
You know what's funny, inability to adapt, obsolete skills, negative attitude, and blames others for circumstances were all demerits in the scoring system. This board is surely putting these anti-skills on full display.
Westborough Ma Asset Servicing has been laying people off every three months or the last 5 years. Heard 50 people were let go this week. Walked out by security. The place is like A ghost town. Rows and rows of empty seats. Morale is non existent. People are anxious and worried. Terrible atmosphere to work in. Most work has been moved to India. Just a few people in each dept left. Just waiting for the rest of it to be moved. I’m sure they have a plan to shut it down eventually. Everyone is just waiting for their name to be called. Very difficult to work this way.....
Any wealth people in the csu—- how can they possibly need all the csu managers? And what about mortgage? That team is never busy. Always surfing the internet, slouched in their chairs, watching YouTube.....
Anymore layoffs today?
Here is something interesting
More IT people being hired in the client service center. Hmmm. So they cut jobs and hire more?
I need to invest in Brie futures. Not enough Cheese in all France to go with this Whine.
Any layoffs today?
Did not mean to include "!"
What about the HR paperwork thats has to be done?!
I was called to my bosses off when I was told I no longer had a job and not allowed to retrieve my items
What floor are they using in the Grant Building to perform these layoffs?
Well someone needs to look at floor 6 in the client service center. My area lost two good managers. The two teams near us have a lot of dead weight. They are all out the door by 4. Take long breaks. Spend half the day gabbing. Why doesnt hr see it?
So many vendors are coming in bnym to replace the work after layoff,
It seems bnym going to on-board venders/third party companies as they don’t want people on their payroll,
Even if bnym brand value decreases it doesn’t matter to them as vendors are ready to replace workforce,
Its a bad business strategy which is now changed in many product based companies,
Until they fall on their face they will not realise,
Best of luck for the team layoff
People who get layoff they will definitely get the new job for sure
and meanwhile, they continue to keep the way overpaid IT mo--ns who have nothing to do but surf the internet all day, go get coffee 10x a day, take walks every half hour.
Does no one see this?
as soon as I was let go Monday I contacted the post gazette, wpxi, wtae, etc
More people need to be contacting the local news. This is c-ap what they are doing to people, then they have the balls to sit there making a mockery of it in today's meeting???
A--holes.
Not that it will matter much, but all of us should alert the local papers about this travesty that is affecting hundreds, if not thousands, of New Yorkers. The layoffs made the paper in Pittsburgh.
https://www.post-gazette.com/business/career-workplace/2019/01/15/BNY-Mellon-cuts-staff-layoffs-bank/stories/201901150162
what a bunch of asses. Glad I was cut. Who wants to work for jagoffs like these?
I'm glad I was cut in the first phase. I feel sorry for those left waiting for the call to HR.
In today's episode of Choo-Choo Charlie's the meeting starts off with Hee-Haw! music played by the Executive Committee, on the fiddle is Mitch, stroking the banjo is Bridget, Mike played the mandolin and last but not least, Charlie was on the harmonica!
Following the Hee-Haw serenade, Charlie came right to the point: The layoffs are necessary to
1) improve efficiency (codespeak for a sharp reduction in customer service)
2) reduce layers (codespeak for fire people en masse)
3) make up for reductions in revenue (codespeak for accelerating revenue decline)
Following his brief talk, Charlie got back to doing what he does best blowing his hot air into his harmonica!
Charlie's diversity plan ~ bring over Lester from JPM Chase, so he can point out how BNYM is proactive in having a diverse workforce. Lester's first improvement is to change the name of Client Service Delivery to Operations. What a masterful stroke of genius! It only cost the shareholders how much for that? Lester starts work in 2 weeks, make no mistake on what he's been tasked with........there will lots of practicing for the choir sessions in Mr. Tuna's chamber of horrors.....the apartment that he wishes he never signed a contract on.
Don't think enough has been said of upper management and how they completely caved to the brass (and HR). A gutless bunch for certain. Imagine sharing a foxhole with the feckless characters? They're all basically a chip off the ol' Tuna. What a sorry bunch.
Any word on what lies Charlie spewed today at the all hands meeting? Anyone>
Forced Ranking, reviews edited.... Morale through the floor, so many people preparing resumes and this is just the start.
Global sites in Europe and India are still waiting to be hit (starts 18/1) and continues next week and the coming months.
Even people achieving expectations are now vvv.
Have a look at the numbers below :
https://www.bloomberg.com/research/stocks/people/person.asp?personId=170452&privcapId=135506
https://www1.salary.com/Bridget-E-Engle-Salary-Bonus-Stock-Options-for-BANK-OF-NEW-YORK-MELLON-CORP.html
You have to ask are the right people getting cut.
What will our clients think, when people they knew and trusted simply vanish. Does Charlie (daddy gave me my first job), really think this will fool anyone?
Short sighted in the extreme, this is the continue downward spiral.
For shame
If this is call talent refreshment then higher managers should refresh their talent first.
Seems you mean misusing instead of missing.... Yep you are right mate FM's should be fired first.
Layoff in India will be on next week. The number is huge. Thanks to the manager politics who are missing there powers to fire who cannot please them. FM and their directs should be fired first.
Left a perfectly good job 9 months ago that I spend 15 years at to move to BNY. I was called to the 30th floor and told that my position is being eliminated. Why the f..ck did you hire me for a full time job if you couldn't predict this going to be gone in 9 months. It could have been worst. I have until until May to get a new job.
I don't know. I was an EE and got 2 weeks for each year in their package they call not severance. But not able to get a job of it cancels all together stinks. For those of you still there, you can keep your second job if you get one before they let you go.
An all hands meeting on Thursday? Really? Why? So Charlie the tuna can lie to those remaining and spew more lies? Someone still there please post details on what was said
To answer someone’s question about severance
It depends on job grade. I was there less than five years and am being paid for 17 weeks.
Are they still giving 2 weeks pay for a year of service? Someone was saying it maybe capped with 26 weeks now. I hope this is not true...
If you wonder why you can't reach anyone in Human Resources, well, it's because there is NO ONE in Human Resources. Monique has been firing people in human resources left and right, she is playing catch-up to Charlie's firing line. Yep, that's right, for those who remain they will have a hell of a time trying to get a live human to pick up the phone. Good Luck using HR4U.
How many senior managers in ADR's were fired? Looks like LaSalla is still running the business. Is he really worth another $54 million? He must have alot of dirt on senior management, if it were anyone else they would have been gone before the settlement was announced.
charlie has his minions working overtime to keep rating these posts as negative
Whats the matter Charlie? Afraid your true colors will be seen?
Clearly Ebeneezer, I mean, Charlie Scrooge has not paid heed to the visits of Christmas past or Christmas present. Alas, all poor Charlie has to look forward to is that of Christmas future. Looking into the future, Charlie will be remembered as well as a famous figure of the past, Aaron Burr. Mr. Burr was once a bright and promising politician, who let his ego get the best of him and watched his career go down in a heap of flames after he snuffed out the life of Alexander Hamilton. Such is the future of Charlie as he follows the same path in his quest to break the back of The Bank of New York Mellon, demanding that the spirit and culture of a company 230 years in the making yield to him in the span of just 18 months. Alas, Charlie Scrooge has not learned from his predecessors in banking who are now looked upon with such disdain that no one dare mentions their names in public or private. Even old Jacob Morley has not been able to sway him, chains and all. Tsk...tsk.....apparently the lightbulb is just not that bright!
Senior management needs to beware because karma can be a real b--ch.
Charlie charlie what a man
Stinks as bad as a tuna can
Year after year. Hundreds of courses. "Protecting our reputation." Charlie's PR nightmare has just begun. Go BNYM employees! Make a stink and make it a strong one because what they've done to us smells like the c-ap it is.
We've lost a staggering 20% of our team...with no warning, no bad reviews, no goodbyes. I heard this is what happened when Charlie ruled Visa. We've been taught customers first and lived by it. Now we line pockets of the high and mighty. How can you deliver quality customer service when there's nobody there to do it?
Charlie will look to sell Wealth Management in 2020. Confidentially of course. They still need people to handle the clients and get the maximum bid for the business. Catherine was brought in to do this. This is why all the executives in wealth bailed immediately last year. They know the deal. They have too much class and integrity to stick around for the sale. Between now and then Charlie has to say he likes Wealth and wants to grow it. Maybe the new owners will keep me.
Walked out like a trial defendant. That sums it up. I was escorted to a conference room and expected to absorb everything in five minutes. Like one can really absorb it. Shock. The hr chick was a total b--ch. May their stock price continue to tank
I no longer work at BNYM, I left about a year and a half ago, but continued to work in the financial industry. I still have a few friends there (some not as of late). It seems from them that once Heberle departed, WM became a runaway train that has now derailed off a bridge. My condolences to all dealing with this hard time. Better things to come.