Thread regarding Bank of New York Mellon Corp. layoffs

@hs

The intentional devaluation of the dollar isn't helping, either.
See silver's rise, for proof: https://www.apmex.com/silver-price

I want everyone on this thread to take a pause. You are all not fully correct or wrong. What they have been successful is keeping all those here sedated with all these nuances as they continue filling their pockets with millions $. Stay focused y’all. A lot of smoke and mirrors at BNY these people have accomplished including having us all talk semantics.

Reddit moment.

Capitalism isn't what's sending jobs to India, it's government overreach and socialism that's causing it. The funny thing is it's the pompous CEO's that support those crazy policies then export the jobs because it's too expensive to hire in the US.

Clueless.
Wages have outpaced inflation this year.
Healthcare costs would be lower if there was much less government involved but it's still pretty cheap. Less than 100 bucks to go to the doctors and even a stint in the ICU is less than a couple grand per day.
Unemployment is low and falling.
Nobody has 50% of their paycheck taken.

@a2 I RTO as much as required, no more. I do not spend any money in the city when I RTO, except for parking. If we all refused to spend anything when in the office, what would happen?

I remember when Venezuela reached late stage capitalism. It was right before they turned into the Utopia they are right now

Don’t forget the fact you are lucky to get a 2pct raise if you don’t get laid off. Meanwhile 2026 SS COLA is 2.8pct, and prior years as follows, 2.5pct, 3.2pct, 8.7pct, 5.9pct. We are literally working for less money every year. And that doesn’t include the additional cost of parking and commuting with the in office mandates.

the king has gone mad, fitting giving the state of everything

Sedition.

Treason.

make no mistake, we are all collateral damage in our CEO's ego games he is playing with his former employer - classic small man syndrome.

He could have forged his own path and uplifted the employees, instead he showed his true malicious nature and the result is... 95% of the crew would toss this captain overboard without a second thought.

RV and his cult members have every ability to make this a better place to work; they made a choice to turn this into the most known exporter of toxicity in the industry.

These devils were forged in the depths of psychopathy at Goldman, and there is little human left to them. The have no introspective ability to examine the human condition, anyone that has looked into RV's sullen de*d eyes knows this.

Capitalism doesn't necessitate their behavior, their choosing of greed above the human condition does. They could stop this behavior tomorrow but they wont, this is a death cul*t and average Americans are the victims.

Now go get your madeup AI certification that nobody in the industry gives a sh-t about to show you're loyal to the blo*d sacrifice.

@af monitoring this thread as my wife was released by BNY. But rest assured you aren't in this alone. White collar is getting smacked by multiple angles; economic turmoil due to current admin, impact of encroaching Ai, etc. I work for FIS and feel we've had even more layoffs than bny and its far from over.

@OP Honestly, is not like BNY anywhere else I’ve seen although I’m sure there may be another example or several I’m not aware of. BNY is beyond unethical but there are plenty of other opportunities that aren’t. Are you suggesting the US should transform to socialism or communism? History tells us that doesn’t work. Is always an option for you to move to somewhere like that if is personal preference.

OP
Your incorrect point here - The cost of living—housing, healthcare, and insurance—has gone through the roof. The government takes50% of your income before you even see your paycheck.
This has NOTHING to do with capitalism and EVERYTHING to do with socialized programs. Banks are appendages of Govt now. And Govt is all about tax and spend and socialized programs for people who don’t or can’t advance. Like Social security which is a complete farce and ripoff. The govt cares about my retirement??? Give me that money. I can do a 500% better job of investing it. As for ACA good luck getting care at all there. Instead we have Somalis that get rich off us. So, it isnt capitalism. It’s reforms needed to preserve capitalism and jobs. And that isnt socialist chants of ‘Get the rich!’ Either.

@a7 sounds like you need to find another job. Just saying. Or start your own with all your knowledge and work ethnic

@a5+1keqzmdne That sounds wonderful. I wish I could work 9-5 and be done. I’m normally not done till 7-7:30 and it’s not like I can just clock out. If our wonderful system breaks I have to stay on till it’s fixed at a moments notice too. I’ve been in till midnight even 2 am from this happening. And now it sounds like they will be mandating a 12 hour rotation with no extra pay. Why? Because they laid just about everyone off lol. Dumpster fire of a company yet they gaslight everyone into thinking it’s some amazing AI firm! All while not allowing anyone to get anything better than an average review and forcing someone one the team to get a low review, and then giving out a 1.5% raise. Which I’ve heard nothing about this year so far.

I agree with this post 100%. I studied economics and organizational leadership, and I have given this topic also a great deal of thought. I analyzed this post-capitalism stage trickled down to micro symptoms in the labor force - affecting the oldest and youngest of the workforce pyramid.

Look at those recent asset servicing MDs announcements leaving for other financial institutions (non-bank) and others announcing end of year retirements (do a quick search internally for those names). Perform your own analysis answering the question: What did they each really accomplish?

An “eyes wide shut” dynamic is in place here. What did those people really accomplish? New revenue YoY? (Real new $) No. Maintain (albeit disastrously) existing clients? Maybe. Manage the narrative as needed? You are getting warmer. Avoid serious lawsuits for the firm? You are getting closer and closer to the truth.

I was hired in 2023 and let go a year later. Since day 1 I felt a twisted undercurrent between my boss and I. Fortunately, I have been studying organizational psychology formally and informally to understand this is not personal - it’s systemic. I was the youngest in my team to be let go. After a year. With a highly competitive severance. Only woman. A few other men pushed out, fired and/ or laid off. But, guess what? I knew this was coming since day 1. I predicted day 1 I was going to be let go with a serious severance because they were trying to layoff these folks in my group (20+ years at BNY) in order to mask the game. I was being given smoke-and-mirrors tasks / projects that were dead end. I felt people’s anxieties. I saw grown adults have panic of their bosses in the middle of meetings. I would analyze body uneasiness, stuttering by multiple folks, lack of eye contact, and people looked sleep deprived and mentally worsening. No trust amongst anyone. I made notes every day of what I was observing. In an intense exchange between my boss and our admin, she described him as a “tyrant”. And she wasn’t wrong. The authority abuse I witnessed was startling. In any case, a near year later I got my severance package to the full extent of my title plus bonus. To this day, I am convinced my boss thought I was crazier than they are. Probably. I am single. No kids. No debt. FU money available. If things got hostile directly with me, I was ready to defend myself with lawyers, the press and starting real internal, employee chaos. Nothing to lose.

All this to say - as a former employee and given my academic and professional training, my evaluation is that the culture at BNY is dangerous for the collective’s mental health. Take care of yourself - as many have mentioned here - see a therapist, have an emergency fund, and strategically search for your next chapter. And don’t let anyone there get in your head. Do your tasks and disassociate during working hours. DO NOT DRINK THE KOOL AID. (Or only pretend you are by repeating words like client-obsessed and AI, but make sure you sp-t out the medication before heading home.)

For working in the office, dude, WTF… It's like we have AC, but we’re not allowed to use it during the summer time.
We are perfectly able to work from home without any issues. For me, I am the only one in the US — but still, no.
If we don’t go to the office, who will pay for the MTA? Who will buy lunches from the restaurants? The value of those commercial buildings is going to collapse if we stop going to the office…
We are just numbers to them.