I can't seem to figure out what method did they use when performing these layoff. From what I hear and see on this board people from all around the company say they’ 've been cut. Does anyone know what departments were affected the most and was there any specific goal to cut more in some departments, or was there no system and they made the cuts in every corner of the company?
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It appears that the BE rating affected layers 6 through 11mostly.Why did layers 2 through 5 not have an equal proportion of BE ratings as well? Did my managers manager name 1 in 5 as an underperformer as well?
@Xa6dNJQ-2udu: Wrong! At BONY, S Levels are NOT about business relationships, they are big-time brown nosers, but they could not close a sale if their life depended on it. Instead, they are very good at polishing d....s and kissing a--, they might do some other things but lets keep this p.c.
S-Levels are overpaid, not necessarily Charlie's fault, he got handed those losers from his predecessors. What remains to be seen is how much house-cleaning he really does. If he really wants to change the culture of the company - S is where he needs to clean up, and not just 1 or 2 here and there, ALL of them need to go....... then you can rebuild or not.
Business is about relationships. High chances S level have those relationships that bring business in, think partners in an LLP. L levels and below are more like 5th 4th etc year law associates. No one can BS their way to S w/o an army of business relationships
"Tuna" ... I like that :)
The analysts should ask Tuna specifically for a list of all S rated employees that have been shown the door. The answer is not many, not many at all. Those who've been let go are those who are L and below. Those fat paychecks - they sit at the S level, the same clucks walking around trying to look busy, banging on keyboards as they race to see who can type the loudest and using those clear glass team rooms when they are the only ones in there with the door closed.
Talent Refresh = "rank-and-yank"
Cuts were/are being made in every corner of the company with the exception of incompetent management. Incompetence is rewarded at The Bank of New York Mellon Corporation. Beginning on the 15th Floor of 240G and through all 11 layers. Yes, those 11 layers that Tuna talks about is not management, it's the rank and file who actually do the work while incompetent managers squawk like the chickens they are as they cluck around the floor trying to look busy.