Thread regarding Bank of New York Mellon Corp. layoffs

One note to follow up from prev msg, you won't get a bonus in late January as it is past the deadline for 2025.

Your bonus will be 10-15%. NYC senior associate is about 110-130. With a few years, you should have targeted VP.

GCM is an revenue driver platform, and is actually a part of the bank that will go directly under federal control, and will be sold overnight if BNY goes under. It is an essential part of the US economy that cannot stop operating, so it's a fairly safe group if you can perform at expectation.

The whole GCM senior leadership C level minus 1 chain is pretty toxic, and it drips down the chain.

That area makes the bank a lot of money. The manager works his people to the bone, but it's not the worst group to be in if you need a job. If you can get in managements good graces, you would be fairly safe from layoffs, as they usually get what they want.

Some of the newer employees love it here.

It’s not a bad area to be in. Challenging stuff.
Problem is the company itself, all the rotten policies and so on. Don’t expect any good news work-wise for as long as you work here.
This year end, 25% of us will have be rated poorly, regardless if you did a good job or not. So we are possibly looking into a 25% reductions of workforce next year.
But it’s better than having no job and no income. Take the offer and keep on looking for something else.

@OP Good luck with your decision! Do and go as your heart desires for whatever is best for you and your family. Just consider the feedback on this forum is legit as it reflects meaningful associate feedback, not the propaganda nonsense and BS rhetoric the company villains want you to hear. Wishing you the best.

sound advice from the previous poster - this indeed is a horrible company to work for, but in your case a paycheck from a garbage dump is more appealing than no paycheck at all

If you are out of work and need money, why does it matter OP? Take the job and as for location, that’s up to you. It’s almost a promise that you will not like it here after 6 months. But you need a job and money don’t you? Just work hard and follow the In office rules.