I understand that this board provides a channel to vent and criticize senior management and their methods.
At the same time, this is to provide any information / rumors (that has legs) about impending layoffs. Of late, I do not see any news here?
Are we entering a period of no layoffs as this is a message that is widely spread in one particular platform consisting mostly of employees from a major subsidy
More will be laid off on 6/30
5,000 set to go in May
@bc Not sure what office you're at, but it certainly ain't the same one I'm at. People in my office are angry and miserable, but they work their as--s off. Either due to fear, or simply because they are experienced, professional, long tenured employees who have excellent work ethics. It's a tribute to these people that they have survived this long, and have help the company survive this long, under some really lousy, challenging, and disheartening circumstances.
Is a "weak" millionaire like Thurston on Gilligan's Island?
@be 50k is the new 30k
People get a clue
You work for a systemically important Bank & you have absolutely no idea what that means. How in he-l did you get hired?
Post ID: @b1+1kmt70t6q
Good God what a friggin id--t. WHO even hired you?
@bg Looks like the People Team is busy again creating agitation and trying to distract from the core issues that BNY associates are most concerned about. What a sad and sorry statement on how this team spends their time.
BNYM is a great place to work. I worked 42 years here, retired, three and am a weak millionaire.
If you worked here for at least 42 years and are not at least a weak millionaire then you truly are clueless about banking, finance and accounting.
It’s unfortunate to see the People Team actively trying to attack the comments and credibility of this forum by clapping back. Your time would be better spent addressing these concerns instead of moisturizing those who above you.
Layoffs are rare. We have so little talent now that any rando with a resume’ can make $50K
It’s nearly impossible to be layed off here. I see more people sleeping out cold snoring in their cubicles than those actually working. This is exactly why heads need to roll…
Some of the more agitating comments here are likely coming from our beloved People Team. There seems to be a deliberate effort by them to discredit this forum, suggesting there is no layoff news and implying that conversations here are simply rants or vents. I believe there is an overwhelming majority on this site that use this forum as a space for genuine discussion and information sharing.
@b1 Funny, why are there so many lawsuits against BNY for wrongful termination?
@ar that’s funny. If not a joke, you can’t possibly work there.
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.
There are no layoffs here. Just people terminated due to poor performance.
@OP there is news and related commentary if you scroll down the posts a bit. Layoffs a given at BNY. I suppose there are some at any company but what BNY is doing is something different and beyond unethical.