Thoughts? Any Bank of New York Mellon Layoffs in 2019?
246 replies (most recent on top)
I was let go on Monday. I can't say I'm really surprised, I overheard talk here and there over the past few weeks of people sounding uneasy and just throwing off a certain persona. I would've liked a warning to organize my desk & various pending work items. I'd imagine it's going to be pretty tough to connect the dots on peoples' work if they're just uprooted suddenly, which I imagine will set back efficiency for a period of time. They might have shot themselves in the foot with that approach. It's not a court room, I found it bizarre that I was walked out like a defendant at trial.
So when is the class action suit being filed?
and again, someone keeps negatively marking posts. LOLOL. Probably one of Charlie's minions. Truth hurts, dont it Charlie Barlie ramalama dingdong?
I'm sorry to all those impacted by the layoffs at BNY Mellon. I too was laid off two years ago and was not surprised by it but hurt at the way they did it. I was there for eight years and it truly is the worst company I ever worked for in my 28 year career. The back stabbing management and the lying on performance reviews, I know it all too well and am shocked that it'd still going on. But it was a blessing that they let me go because I found something better, and pays much better too! Hang in there all of you. This is a blessing in disguise #
oh lucky me, I am getting all of my personal effects at my home tomorrow. How nice of my jackass of a boss to send them to me so promptly.
Trust me, WM isn't a good place. The people there, absolutely. I made friendships that I will treasure for a lifetime. But to me, being let go was a Godsend. Now I can sit on my a--, collect my separation plus unemployment and find something better. Plus I'll sign up for outplacement just so BNY gets charged for it. My own personal F U to them.
So sad to read all of these comments about WM. It used to be a good branch of BNY to work in.
I left there almost 2 years ago and sounds like I made the right choice.
Well the manager I was under was a total a--. Thinks he knows it all, very smug and condescending. Let's see him handle my team now that I am gone. My team lead will chew him up and spit him out like a gutted deer in a heartbeat.
This whole week has been a nightmare. People are so upset, crying in the office. Is this really what Mr Tuna wants for his workforce? Upset, unhappy people who dont want to be there?
Gee, wonder who is giving all of these comments negative reviews? Could it be Charlie the Tuna himself? Trying to make it look like his company isnt sinking faster than the Titanic?
Welcome to the board Charlie.....
or maybe its Monique, the overpaid head of HR?
I was let go Monday and I already have leads with other companies. Taking it as a sign that something better is coming and BNY was meant to be left in the dust.
Should've seen the storm clouds coming when Don Heberle stepped away. :(
It feels terrible to see many great collegues from US that we had worked with till yesterday, become vvv today. Not even a chance to say goodbye.
There were layoffs in India in October. Next round happens next week and is rumoured to be repeated after three months. Morale is at all time low and all people talk about is layoffs. The attrition rates are going to soar and more and more people here will leave in anticipation of being next.
I just hope management knows what it is doing. If there is a method behind this madness, it is not apparent at all.
How does Senior Management sleep at night? Seriously....
Good posting on the "downsizing" of the graying population at BNYM! Looking for a better life after BNYM. :) Please share you success story in finding a new position.
In india technology centre there was layoff in October last year and again it’s going to happen again in this week or next week for sure
Its all over in bnym
Its hard time for BNY Mellon employees 🙁
Sad to see great organisation changes
In India as well, a lot of employees are going to get terminated next week. The number is around 700.
Yes people who had met expectations were let go. I was a manager who never had a bad review and i got it. So did several other managers in wealth. So now i get the joy of starting over at almost 52 while i sit here waiting for bny to mail me my personal effects from my office that i wasnt allowed to retrieve before i was released.
They offer outplacement and to anyone reading this who got let go — sign up for it becuase bny gets charged for it. Even if you dont go. Make them pay....
Are people being laid off from BNYM with meet expectations grade?
What’s sad is employees have to take those stupid ethics tests but the bank still gets fined 54 million dollars because of mishandling ADR’s. Have to make up that money at the employees expenses.
Was anyone from Florida laid off?
I'm 59 and got the bolt too. It's our age. They are to cheep to pay for us to retire.
I am 58 years old, a manager for the last 12 years, and was recently laid off. This is the first time in my 25-year banking career I’ve ever been let go. Still in shock. I didn’t even get to say goodbye to my team.
Well, well, well. For the first time in my career with BK (or any organization) I received a below expectations on my performance review. At 57 years of age I know why. There was no forewarning nor was there any suggestion, at mid-year or otherwise, that this was something that I should be prepared for or that I needed to address in any way. One can only conclude that this was a forced ranking to prep for a separation. Unfortunately I, like many others that have yet to be fired, can only wait to get the inexplicable meeting with the boss, set up as a conference call as HR needs to join the conversation. A bit like being on death row...just waiting. As a professional you need or feel comepelled to stay engaged but recognize that the death march is under way. Sad and revealing how much senior management has no solutions short of cutting long lived, loyal and hard working devotees of the organization to wring more margin from the business. A shortsighted and cynical management style cast by Jamie Dimon and his acolytes. No vision for the Bank founded by Alexander Hamilton. Our Executive committee is populated by noble but young and inexperienced executives that seem to think that this is some kind of academic exercise but no credit is given to the collective experience or context that I and my soon to be exited peers bring to the table in a daily basis. Now we have to figure out how to support our loved ones and attempt to recalibrate our lives thanks to Charlie and his band of merry men and women. Good luck and thanks for showing all of us that stand to be laid off or have been laid off the next and better chapter of our lives. BK has embarked on a dark path that will not benefit its shareholders. Until Charlie leaves all BK employees will have to live with an eye over their shoulders.
I worked for BNY for 33 years and got the boot today. I used to eork 109% remote and I think that maybe why I was targeted. It’s a shame. I feel for the people that are let there. SMH
They let one guy go from my department today! Another of my friends from another department with his coworker as well, gone!
Shocked, who’s next, we don’t know...
We received an email for a conference call with our boss, gave us news and more cuts to come...
Well, time to start looking elsewhere, don’t want to stay here too long anyway
My group lost around 10 people today - most of them smart and professional people what were responsible and hard working
It’s a shame
12K views on this post, it's amazing how quickly bad news travels. I left in 2011 and I wish you all the best. I've spent almost 20 years at the company and the people I worked with were some of the best professionals I've ever crossed paths with. This is truly a sad story and a sign of an ultimate management neglect that could have been avoided.
I am just going to leave this here:
https://www.facebook.com/TheLayoff/posts/2011646818931764
the moral to the story is: NO COMPANY cares about you in any way, shape or form. You, on the other hand, have to take all those stupid annual tests and play the game + tow the line...it's all about $$$
You know it’s bad when you start to miss Bob Kelly.
I am hearing the numbers will be in the thousands, NOT "just" the hundreds; the day after MLK day and into February
I was laid off yesterday as-well. Year end review was likely the cause along with Charlie influences. Company is wreck.
Severance or SUB? I heard they did not offer severance?
I got laid off today after being employed at BNYM for 20+ years. I am in my 50s. Got 40 weeks of severence pay which I am happy about. I had a fear of being terminated after getting a below average review (first in 20 years). I had so much anxiety from that place that I barely ate. I got to say goodbye to one co-worker.
Bnym did cut employees in India too in Oct, they are doing it again next week.
I was let go yesterday and was given a list of the job titles, grades and ages of those impacted
And its mainly 50-66 with a few 30somethings and 40somethigs. I feel like they are so unethical in how they handle things anymore. Forcing managers to give employees c-appy reviews. Forcing unattainable goals onto employees. Its a joke. I am glad i am out of there. Those still there- save yourselves. Or as someone stated below get the severance and bleed the b--tards dry.....
They have not terminated anyone in India and have not seen any in previous terminations. India remains an outsourcing provider due to the significant cost savings that the Bank achieves. It seems like they do not look before they leap.
Charlie Scharf will run the company to the ground, take his golden parachute in a couple of years and leave. A great company had been destroyed.