Lots of “good excuses” but we know how layoffs and disorganization have affected morale and productivity.
And maybe some KARMA going on!
Hey you “capitalists” out there: looks like a BAD investment, getting even worse!
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The sad thing is that BONY took out its crown jewel, Mellon. It took 13 years to drain it of all value... sure coulda been different.
Get ready, this pretty much confirms more layoffs are coming this year. And the blame is being placed on the software developers above all else. Management recently stated that less than 30% of developers do any development. I can see the tension already building up in my area as our managers are not happy with the speed of development and trying to find ways to increase productivity in the past few weeks.
Down 9% today
The cookie.is.crumblin.. the cracks are appearing .. make the money$$$$$ and run out capitalism 101..
Don't mention the name Aladin to Trumpie he will not like it !!####
What are Buffet s view on his investment in BNY ?
No idea on merger but on the conference call, the CEO highlighted that the most likely path to growth was through Blackrock Aladdin integration for clients.
Everyone keeps talking about Goldman or Jp takeover. I don't know for sure. But im betting more on Black Rock. Our industry is changing very rapidly and our revenue sales are not keeping up with the pace. I would bet on something like 5,000 people layoff this next month or so . Then it will all be prep to merge .
Test 2
They are getting what they deserve and continue to show they have no idea what they are doing. All they have done is ruin many people's lives with their heartless layoffs. I can only wonder what their pressure stockholders will think of this. What a mess BNY Mellon has become.
Or it will result in Bigger Giant like Goldman taking over our esteemed organization...
Remember when BK “invested for growth?”. Where is the growth? Instead sales are negative? How does this happen?
Absolutely agree - the morale at BNY and its boutiques are at an absolute low.
Death spiral: bad results will justify more layoffs and disorganization.