Thread regarding Bank of New York Mellon Corp. layoffs

@4rhv,
Exactly. I left involuntarily almost 2 years ago even though Todd's uncle says he didn't fire people. They claim my position was eliminated but all the projects I had lined up have been completed by someone doing the needful. I should have filed for extended federal unemployment since it's obvious I was replaced with offshore workers.
I have a few million between my retirement, savings and pension and I live in a low cost area so I decided to no look for new work even though I'd be paid at least $50k more and wouldn't be hassled about my physical location.
The reason I keep coming to this site is to see how management keeps messing up. I spent almost 20 years improving things and fighting the id--tic policies pushed down from above. It could have been the best job in the world but it was almost the worst.

Da---t. Had I only known that the company would be giving employees 10 shares of stock, that are not immediately vested, I would have never made the decision to leave. LOL

Keep the downvotes coming. It just makes you look id--tic for defending this company in any manner.

@3mmc+1jZzmxjL

I think there are many that have moved on but can still relate to the bitterness. Especially those that were with the company when it was Mellon. The cultures of the two companies simply were not a good fit. You can only have so many alphas in a business line, so the legacy Mellon employees that weren't pushed out decided to leave on their own. In many cases, that led to legacy BNY managers trying to lead business lines they knew nothing about. Just a big cluster fudge all the way around. I witnessed employees with 40 to 50 years of service walked out by security. Just a horrible way to treat people that put in so many years.

If you are employed there you are on the Kramer Reality Bus Tour "NO MORE QUESTIONS!"

At this point I’ve been gone for about 2 months and have found a higher paying position, but I still have very sour grapes about this place. And it’s probably because I loved my job so much and many people in it. To clarify further, things were going great until they brought in people above us at a higher level, started letting people go, and brought in more higher level people. There was a big discrepancy in responsibilities as these higher level people had far few than those that were underpaid but did more. Admittedly I hang around this forum and keep close contact with former colleagues because I long for the day that karma is given to the people that ruined my team but at the same time it’s probably not going to happen so I’m better off moving forward to greener pastures. Hopefully my new role solidifies this decision. So yeah, probably more therapeutic to post here but it won’t be enough - you should make your own destiny.

@1bap+1jZzmxjL

Congrats for getting out of there. This is the first time I've jumped on here since I left. I received several texts about the announcement so I decided I'd see what the people on here had to say about it.

I'm not much for watching local news. Did any of the stations or papers do a story about it? Any protests down there on Grant Street? I suspect the answer to both of those questions is NO.

Hopefully some will wise up and create an exit plan, but most will not. If they're not lucky enough to get laid off next month, they'll be back here complaining.

I'm sticking around for now, despite the recent 401(k) change for the worse. I'm still WFH and learned a lot of new skills over the past couple of years, and if I get laid off I'll get enough to keep me going while I look around.

I actually turned down an interesting 1099 position because the pay was just over what I make now including 401(k) match and tax benefits from maxing out my HSA account. Next time, I might make a different decision.

@tay

#FakeNews

Charlie’s last Layoff was August 2018 and there has not been a significant layoff since. It’s going to start up again but we had a nice 4 1/2 year break.

@OP is totally correct. Whining without action is useless, and whiners never take action. The quiet people examine their goals, their options, their networks and then form a plan and execute it. And we all generally have found ourselves far better off for leaving.

I come back to remind myself to never again fall into a trap like this working environment.

I totally agree with the response about the weak minded people that got vaccinated to keep their cr-p job. They're more likely to sit at their desk with a face diaper on for 8 to 12 hours than they are to protest an injustice.

Op has a point. Personally I left over the summer. Handwriting was on the wall. Truly one of the worst organizations I have worked for.

Can’t say I am pleased where I went too but when your direct quits and you are left on an island managing seven people with no help and left to my own devices. It was time to run. Even if it wasn’t to the most ideal position.

For those still there. Be wary of the new year. The targets were high for layoffs. And that was across the board I last heard. Then again, so many people have left that I can’t possibly see that stretch target being the case anymore.

In our own little world. We had ~50 and we needed to reduce by 10. No clue how in gods name they will find ten since each team was completely underwater and this 10 number was thrown around in spring 2022. Could be less now with all the turnover. Hopefully it is. I personally didn’t want to lay anyone off that were busting their shoes for me. Hence the hasty departure. Good luck all

Late 2018 was when things got really bad and continued in 2019 to go downhill as Charlie was laying people off like crazy and forcing everyone back in the office. We all earned a major reprieve in 2020 because while Todd had flaws, he didn’t shake things up too much and COVID saved us all hundreds of hours commuting. I was willing to leave in 2019 but being able to stay home 5x a week and get a promotion kept me here. But as of early 2022, a lot of that has gotten reversed - RTO is under scrutiny again and RV seems to be picking up where CS left off. Tough pill to swallow, but it’s going to get worse before it gets better. I’m glad I left when I did even if that meant forfeiting my bonus and having to commute 3x a week, but the pay bump was worth it. I loved my job and my team here, but towards the end of my days here, my manager had destroyed my team so perhaps some of these bad managers are a blessing in disguise.

I agree with the offer. And quite frankly, I am one of the people he’s talking about. This place is awful but I’m still here. Not because I haven’t been offered something else, but I’m looking for something great- in the meantime, I am coasting… And if I get let go at least here, I’ll get five months severance.

You’re also right that there’s not gonna be an uprising, unfortunately… Too many weak individuals… Say what you want, but I know a ton of people that simply got vaccinated because the company told them they had to when that wasn’t the case….

Perhaps some of us on this forum have already left, and use this forum to share our experiences, support others, or just grunge about past wrongdoings. We've moved on to new beginnings, sometimes want to touch base with old colleagues, and some are not in the US (massive surprise!!) and dont care about localised issues like 401k. We may be here next Christmas, maybe not....