Correct me if I'm wrong, but things happen first thing here when it comes to layoffs. Which means if we haven't heard anything by now, we're good for the day.
I refuse to stress any more than I have to. I'll leave it for some other day when we actually do have layoffs.
1nly, your question “WHY are the high caliber types getting let go” is fascinating, especially when you consider that many of the high caliber types are the very “superstars” that technology and all lines want to keep. Despite ever increasing expense reductions (I.e. layoffs) over the past 12 years the Bank business model is failing dramatically in comparison to direct competitors with similar challenges. Even while riding the perpetual Trump tax cut gravy train which were spent on the bank, not employees, BONY missed guidance badly and are in an all out panic to reduce staff. The fastest route is to ignore the protected buddies at the top and sort all of the rest by salary and age. Higher paid “non diverse” people as the CEO refers to them, happen to have a great overlap with high caliber types.
I was laid off at 3 pm after working a full day
Why would anyone lie about being laid off. Was let go today and I don’t want to share my location. Just wait it out, your number will be called soon.
1nly - I wish I knew. I don’t know if it is strictly money based or what. Seems like the more years of service you have the more likely you are to get cut due to salary and benefits ... why would they want to pay someone 4 weeks vacation when there is someone only earning 2 weeks vacation and making less money? Just can’t wrap my head around it. I think the Feb layoffs were based on that since it seems the majority let go had 20ish + years in.
Question for wcl: WHY are the high caliber types getting let go? I’ve seen this mentioned many times in these threads. It seems so illogical (even in the context of BNYM). I’m leaning toward the conclusion that it’s all about the $$$ (salary plus benefits) and the other factors are merely coincidental. In fact, I heard that exact thing about one of my co-workers who was let go yesterday. BNYM is really getting desperate.
so 2k people showed up on this thread and nothing is happening?
hard to believe.
i left on my own in 2018
Hard to believe any lay-off took place today or yesterday. No one is confirming the location . I have not seen any in my building . Checked with colleagues who work at other locations and none have seen or heard anything .
tons of layoffs today - Pittsburgh, Massachusetts and Syracuse - to name a few.
If anyone still thinks they are too valuable to the company to be cut... think again. I know several people that were let go today - all outstanding performers. In the end, you are just a number. Too many years of service?? Watch out. Make too much?? Watch out. Excel at what you do?? Watch out. No one is safe. People I swore would be ‘safe’ due to their knowledge and expertise are now gone. A real eye opener.
I know of one today at 240.
I think people are lying here. No one will respond with location.
Which location are the layoffs happening?
Nope; I got laid off this morning
Still happening, just got off the phone with an Associate that was just let go.
Hr rep does not need to be present. They've been doing them over the phone for the last 2 years here
Time of day means nothing. We’ve had them right up to 5pm
As always....when you least expect it.....expect it.
It is happening
I wouldn’t make this assumption. Not everyone can be done first thing in the morning and just because you aren’t hearing about it yet doesn’t mean it’s not happening.
May I ask what location you're reporting from?
Well, hate to have to correct you, but....
You're wrong.
Think about it....when there are days/weeks with MULTIPLE layoffs, and an HR rep needs to be present at the notifications, and there are only a limited number of HR reps...it takes time.
When it happened to me last year, it was after 1 p.m.