Thread regarding Bank of New York Mellon Corp. layoffs

The entire basis of BNY culture is cutting staff, look up constructive termination and see the lazy marketing they have wallpapered over the idea.
Your bank is being eaten from the inside by a parasite that will eventually destroy the host on the way to its next victim. You think the bloated compensation they are doling out came from new business and AI savings (ha!) ? It doesnt

Staff will be back to 5 days week by the end of the year. Some senior staff will have to come back to 5 days around June/July

@fk Our illustrious CEO has $49 million reasons in 2025 to afford Dollar Shave Club and his Rolex Panda Watch. The rest of us should be so fortunate to wear blue jeans purchased from Goodwill or a second hand thrift store after all our merit increases and bonuses are tallied. This indeed is a highly professional outfit; one that ‘steals’ from the rank and file in order to afford lavish EC bonuses! Board certified and approved.

@fh the problems that exist in finance exist in every industry with a profit motive

You need to come into the office to build agents.

If you build an agent poorly then you will be terminated for cause without severance.

If you build an agent well then it will replace you and you will be let go with 90 days pay.

Professional wardrobe? Our EC members have been appearing TV wearing t shirts and leather jackets.

@c3 gas was the same price as now in 2023, 2024 and part of 2025. It only went down when Trump got elected. Gas prices always fluctuate due global events and human fear. Everything is tied to fear, our entire lives are wrapped in fear. Maybe we should stop being afraid of tomorrow and just live for the now. I’m not thrilled about my work even though it’s actually interesting and challenging and I like my team, but I’m just tired of the general bank culture and I know eventually the global financial industry will change drastically. Systems in place will no longer exist. We may have a few years, but I’m getting out early next year. I set my goal of around 10 to 11 months from now. Luckily I can retire early and maybe do some local part time or freelance work as needed. If you are early in your career I would move away from financial industry and it’s imminent collapse.

@ek there are people in the lake mary site that commute like 2 hours to get there.. its insane .

You guys don’t get it. It has nothing to do with culture and productivity and everything to do with real estate. They own these big buildings and NO ONE was in them. They make money with you in the office!

But I agree. Suspend RTO or go back to 2-3 days a week in office. 4 isn’t hybrid. It’s a regular schedule with the ability to wfh on Fridays. The people who have to commute 4 days a week and spend hundreds per month — it would help them on these awful salaries.

RTO is just an attempt to get people to quit. We all come in just to sit in the same teams meetings with people on other continents. There's no actual benefit to productivity

@OP

Please do vent. We all need channels to do that and take some mental agony out of our way.

But, the fact is unless you are a valuable resource, not replaceable that too easily, you are not going to win this argument. It is a question of supply and demand.

As someone posted elsewhere, see this as an opportunity to train yourself at BNY expense (at the work site) and make yourself valuable.

If you are valuable, you are not impacted by RTO - Please trust me on this, there are departments that are not doing RTO in a truthful way. Not coffee badging either. There are many ways to do 2 days at office if you are in the engineering side.

You have to make yourself important.

Could you commute to work under whoever was running the country under Biden and inflation was near 10% per year?

Dear BNY Management - Can we please suspend RTO? With the increase in gas prices due to Trump’s Iran war, I can no longer afford, on my paltry BNY salary, to commute to the office 4 days a week. Thanks in advance.

You forgot the generous reward package that’s part of the massive RTO initiative - sizeable base salary increase in the 0-2% range plus last year’s incentive at best, but could be (a lot) lower as a bonus…complete joke

@OP there is no benefit. If staff is showing they can work from home just like pre covid there shouldn’t be an issue. And the ones who cant either need to go in office or be let go. Its control from robin and his dipsh-ts. All ex GS fools setting themselves up to bring in more GS pals by firing as many as they can. Im even seeing positions created bringing them in board and promoting them after a couple months here. Like wtf. Robin also gets to go on LinkedIn and other platforms and fluff numbers and cost savings by doing so.