- Some really big and jaw-dropping clients have now left BNY. The end is imminent (unless there is a merger, but even that is a short-term fix that will still be bad for employees).
- Offshoring to India is rampant and widespread. The goal is to make BNY America a satellite for BNY India: much cheaper cost of living and labor. Any and all mistakes they make are mitigated by the profit margin and low-risk overall point of view.
16 replies (most recent on top)
@v7
Yeah… does anyone believe that the latest venture with Google Gemini 3 being integrated with Eliza is going to be an instant efficiency for Employees? Nope. Sarthak and Robin are looking at this as an excuse to efficiently expel employees. And if it doesnt work Out of the gate? Just hire Indians and go ‘Indian express’
This place is looking to reduce by 20% next year. India excluded.
We're getting a lot more AI in 2026...Additional Indians....
Don’t worry. We have P-M and AI. Everything is great!
@f7
You are a regular Di-k Cavett contributer here..
Minus the Cavett…
More "adult" conversation.
Good riddance
@bc exactly and its beyond disgusting. A US company who is more for India and other countries having jobs than americans. It shouldn’t be allowed
Offshoring. You got that right! 36% of employees are in India. That’s quite a lot in one location considering we are a US company formed by two of the oldest banks in the country.
Good luck. No tellers or drive thru tubes at my bank. Just a big copy machine and a security guard. Used to have 8-10 people. Now just a guard.
@ay
Tellers? ‘Banks’? Online?
You are a complete hine hole.
Go bob for brown apples in the john and never come back here….
Brick and mortar banks are all online now. No extra fees charged like before. Ba bye! My teller is now in India or Manila. I don't know or care
I know some top tier Pershing RIA and IBD clients were pulling custody and cleaning business to GS and Schwab… Most Pershing relationship managers have quit and many that were there were fired… servicing beyond horrific - not what you want for your HNW clients… a few of these client names you see on TV every day… Pershing and BNY management know but “ the emperor has no clothes “…. These clients contribute enormous amount of revenue to the bottom line… of course, they will tell any peer RIA or IBD to stay as far away from this sht whole as possible….
Who left?
@a1 which big clients have left
It is a law of physics…..
Remove energy from a system and the amount of work also gets removed thus, energy out is removed….
And when you add inferior and non working particles, you increase entropy and disorder.
Robin and the board are destroying this company with their India and AI entropy chaos.
The Fed really has got to take a look at the elevated risks posed to the US clearing system by these cannibalistic imbeciles running BNY.
I was about to comment "in other news, water is wet" until I reread the first part. Wow- I have heard several colleagues tell me this and I looked up one client and they are gone! WTF?!