It’s a sad state of affairs at all levels unless you’re on the EC, then it’s all working out amazingly. In the past 60 days we’ve lost talent that dedicated multi decades of hard work to the firm. Strong minded, intelligent people that really contributed to shared goals every day. Up to the time when shared goals became a blur of corporate kool aid, McKinsey projects, revolving door of leadership. Never did I think it would come to this but I’m at the end of my pain tolerance. Very sad. Is Wealth growing or shrinking? Can margins grow out of the bottom gutter? Is Jose doing anything to make change besides firing,hiring, cashing checks, selling shares? So sad. The range of firings has been like a sn---r attack in a classroom. Best to dress like the plebes or be targeted. Last thought - does RV look unhealthy to any of you??
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Things to keep in mind. For 2026, companies are blowing their yearly AI budget before EOY. BNY is no different. Also, there is no ROI for this AI build-out. This firm is sunk. The offshoring to Pune could be of continued benefit to BNY, but their AI initiative is a failure. Question is: When does the AI failure impact stock price?
Remember: BNY is not a growing business with new clients. Their quarterly revenue spikes are from timed layoffs, location closures, real estate sales, off-shoring, with pump-and-dump style pressers of exciting growth.
What goes around comes around
@ae and BOTH “AI’s” make constant errors. Its a disaster.
These town halls are pathetic: all the su*k-ups want everyone to be excited about AI. Meanwhile, it is geared to take human jobs away. Factor in outsourcing and “insourcing” and AI may also mean “All India.”
@OP I can’t agree more with this post. Its a sad state of affairs and I also am finally starting to realize they dont want humans here they want everything done by robots.
Ive witnessed so many changes over the years but this seems like the end of it all.