This site is loaded with comments of actual and observed layoff behaviors. Check the new and active discussions if you are new to this site. BNY does not announce layoffs since their goal is to circumvent federal and state WARN Act notification requirements and to avoid employer payments to State Unemploument Insurance (sUI) in the event layoffs are publicized. BNY is very unusual and would never admit to layoffs. Instead layoffs are referred to as strategic realignments. They are continuous, systematic and calculated to support cost reduction and location target goals, eliminating experienced workers without severance, sending non-client facing jobs offshore. BNY also “we-ponizes” RTO policies and uses mandatory performance rating targets and forced below expectation ratings to expunge workers using PIPs. To add insult to injury, the company now has flatter or-a, changed the VP/SVP/Director pay structures, capped annual wage and merit increases (with 0 to 2 percent increases being the norm), created labor pipelines with state colleges and universities to maximize state and local tax credits, closed real estate holdings, increased the number of days required in office, and accelerated the reduction of all work from home associates. While these behaviors are not technically considered layoffs, they are designed to promote voluntary attrition. This company has created a place where there is a toxic culture and no psychological safety for anyone to speak up. Senior leadership and EC is highly scripted and does not promote an environment of openness, trust and transparency. Sure there are posts on LinkedIn from EC and chapped lips supporters singing praises, but that’s mostly to protect their positions and personal brands on social media as “hands on leaders” or “emerging leader wannabees.” Again, if you are new to this site, suggest you read through the comments to learn more about the layoff topics and comment history. The picture very clearly describes what’s going on here. The EC goes out of their way to create false optics of rainbows and unicorns. This site is for truth telling in a psychologically safe environment that the EC has intentionally, consistently failed to develop and maintain.
This deserves its own thread. OP: @ar+1kmt70t6q