For the last 6 months, I've seen so many people getting fired and all very senior management too. Like just boss is not fired. 3 people above them got fired. And the whole team is now getting renamed and all that. The new people even don't know the product and capabilities.
Some people were really great leaders and they were like in BNY for 18 years and so.
I don't think they're firing people in lower level but feeling nervous.
3 replies (most recent on top)
@ag it has nothing to do with jigh cost locations when they have abandoned low cost areas always prime locations where processes have moved. Buildings they own sit empty and staffed forced wfh in those locations are being terminated because theyre wfh. Makes zero sense. RV thinks success will be PA, FL and india where new employees coming in are awful and existing staff don’t know sh-t
They are offshoring to India and Philippines. They literally want to shut down most of the sites in north eastern US states as they are high cost. It’s just not SVPs. It’s anyone they can find and get rid off. In my case they they offshored my position to a junior resource in India.
They aren't just targeting people in the higher levels. They are getting rid of everyone they can and for any reason they can find. They're offshoring roles cause india is priority over americans having jobs apparently . And theyre avoidng paying severance if they can terminate you.. They have no new customers coming in and people are saying several big clients have left. The only way RV can show any results that appear to be increasing stock or whatever is by cost savings hes doing by taking out employees. Hes been doing it and its disgusting