Reorganization is coming in 2019 because of the layoffs. Managers will now be required to have a minimum of 10 direct reports or lose their management title. Severance package is being capped. Work from home is still being considered for elimination. Employees are miserable. Expect lots of talent to interview elsewhere and exit in the new year. Many people in Treasury Services feel certain Charles has delivered a clear message that our business line is about to be eliminated.
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Under water or what ??
Has anyone heard of layoffs in Management . I bet that ain't happening ! And they want remaining employees to do more work ! Do they even use their brains in Management or they have none ! The place has become a joke !
pls post up more details of legal case so we all know how CS being overthrown!!!!
It is laughable, now we lost people management comes up with there is a lot that needs to be done! Just get it done people no matter how many more hours you need to work! But you can’t do it from home... just sleep at your desk!
i sit in a row by myself as the rest were already laid off- i collaborate with no one other than people in other offices or india. My managers sit amongst themselves away from the group so i message them as well, but still i was phased out from work from home. I have 10 hours of work i try to do in an 8 hour day (also because short staff) so there is no slacking. i don't break for lunch at home either because of the time and constant questions and messages from india, but when i'm in the office I get to hear all the senior managers talking about where they are going for lunch that day. it's just a ploy to make people unhappy and leave on their own.
When did working get confused with “working from home” bs? Face time in the office cannot be replaced by conf calls or videos. All you people b--ching about not being able to sleep in late, have no commute and sip your coffee in your jammies while “working from home “ are pathetic. Get your a-- into the office or someone else will be glad to take your job when your leave because you can’t lounge around all day on a Friday, “working from home”
Lazy. So glad they are getting rid of WFH and good riddance to all the butt hurt employees who can’t handle a 5 day work week.
These licenses are not applicable to many units of the organization.
What about all management including VP and Directors that do not hold the proper licensing i.e Series 7, 24, 27,63. In those instances it's who you know not what you know.
The post by username ending in "Yvhd" is correct. Charles Scharf has made BNYM a terrible place. The work from home option was a huge selling point to many people. BNYM will lose much of its top talent if they eliminate WFH. His priority is automation and cutting the work force as much as possible. I'm an employee in the Northeast US. Layoffs aplenty in Pennsylvania and Massachusetts. Most lower level jobs are filled by staffing agencies and people are brought on as contractors. Over the last 5 years I've survived many layoffs at my location. Most departments and functions in the transfer agency were moved to India. Those of us who are left get to clean up the mess & deal with the fallout on a daily basis.
They lay people off after age 50 because if you’re over 50, you cost more to insure and usually by age 50, you have a few health issues. Younger hires are healthier, less or no kids and they are cheaper to insure. Simpel cost cutting. And age discrimination is next to impossible to prove.
There is no way you can prove age discrimination theses days. They will pull every email off the server and find something you did on company time as a violation of company policy. Save your $$$ on hiring an attorney, as you will wind up owing 70% of what you’re severance or settlement was after your lawyer rapes you. And yes, your lawyer will tell you that you have a case and that they will fight for you. Wrong, you got to pay lawyer up front and there is no guarantee they get you anything more than the severance you were offered. Then the lawyer loses case and takes mor3 than half of your severance as their fee.
The system is not set up to help you. Never forget that. You’re all just slaves.
Dear "Gladnotthere"...
Sounds like you had a "better" experience than I did... "Their computer infrastructure and support was garbage."
"Garbage" would have been an upgrade based my experience.
Love, "Charlie"
Please tell me more about age discrimination lawsuit you are going to file. I will join. They seem to target people in over 50 age group, predominantly. At least in US. They seem to perceive employees in this age group deadwood.
Just to clarify, managers are required to have at least 7 direct reports. They are working towards a merger with JP MORGAN. there has been an influx of managers from JP MORGAN to help facilitate this. They are also working to totally eliminate supplemental income. This is expected to take place eoy. I am working to being forward a class action suit for age discrimination. I will provide info on how you can join. Charlie is a scumbag. The board is beginning to grow tired of him. He has done nothing in his time here.
Totally agree, everyone there is scared of termination. It’s always a factor. Who wants to work under those conditions?
I lost my job with these clowns last year and had to retire early. In 38 years working in corporate America they were the worst, most belligerent, badly managed company I ever worked for. I went in with my eyes open knowing they had a bad reputation and lots of layoffs but I had five years to retirement and thought I would have a decent manager and make it. Barely lasted 3 years and management was awful. Their computer infrastructure and support was garbage.