BNYM has been saying they ‘need’ to layoff employees to cut costs for several Years now. How is this still a valid/acceptable statement???
I’d LOVE to see the financial records supporting BNYMs stance to continuously layoff employees, yet have thousand of open Career Opportunities available. It is costly to hire new employees, and layoffs create a fear based environment. Why isn’t BNYM committed to Develop and Retain employees???
6 replies (most recent on top)
Greed, Plain and simple what was a coveted place to work for is no longer. Values and mission has changed.
Fastest way to cut expenses. These higher ups only stay with a company for a couple years before they leave. In order to show quick profits and get their big bonuses, they cut headcount. Its the lowest hanging fruit. They cripple the company and leave. They get to brag about how they raised the stock price to their next employer and demand a higher salary for doing so. The almighty dollar baby!
70% of the jobs here are going to be made redundant in the next half decade. If you do your job in Excel and Sharepoint, AI will replace you. Every enterprise agent is added to Eliza and there will be no need for human seat warmers. Either come up with a way to automate your peers’ jobs, start looking for a new one, or retire early. I’m going to split my time between volunteering and part time park ranger out west.
Not sure how they deem them as cost savings cause they're hiring people with less experience making far more money than those they are letting go. Sounds like bullsh-t to me
The layoff "cost savings" are so they can fully renovate 240G. As if a renovated building will do anything for this toxic culture.
Developing and retaining employees requires work.
RV doesn’t know how to make money without RIFs