Thread regarding Bank of New York Mellon Corp. layoffs

Is severance officially maxed out at 4 weeks?

I know a few people that were recently let go in Boston. Rumored be part of the initial phase of the Lake Mary relocation (they relayed to their manager that they had no interest in moving to Florida and that feedback was cascaded up).

All of them here 10+ years.

3 or 4 years ago they would have been given 6+ months. I think the maximum used to be 52 weeks.

I am hearing they each received full pay to the end of the pay period plus another 4 weeks.

Is this the new policy? Is a quality severance for people with 20+ years officially now gone? Has anyone heard of anyone let go in the last few months that was given a more substantial package?


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| 8011 views | | 10 replies (last February 4) | Reply
Post ID: @OP+1kg58m4m8

10 replies (most recent on top)

@gt yes give me your phone #

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Post ID: @12f+1kg58m4m8

This is deemed as a voluntary resignation by the company. They're lucky they got the 4 weeks because usually that would get you nothing. By design you cannot collect if you quit.. they no longer offer lay offs for a situation like this

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Post ID: @119+1kg58m4m8

@g6 I would love to know more about who you contacted for council and how you went about the process. I'm in my 50 and have been here a long time. I expect to be in this position sooner or later, and all I want is my 52 weeks. I think I've earned that. No negative reviews ever. No violations of RTO ever. But the only "protected" class I could possibly be a part of is age.

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Post ID: @h4+1kg58m4m8

@g6 anyway you can refer me to your lawyer? Been there for 15 + years and they just pulled the same situation on me as well.

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Post ID: @gt+1kg58m4m8

Their policy states 2 weeks per year worked there but normally they try to give only a couple months. I speak from experience. Long term former employee. They offered me 3 months. I did not sign, engaged an attorney and they ended up paying me for a year. Did not go to court and they didn’t fight hard given most of BNYs internal counsel let go as well. If RTO violation or something of that nature they can probably get away with firing for cause but that was not the case with me. Their bogus ‘performance’ reviews not technically illegal either although would look bad if ever litigated. As I’ve learned, need to pursue ‘protected class’ type of issue - age, race, s-x, retaliation, etc. all of which is illegal and will result in them quickly writing a check. No need for hard evidence. They cave quickly.

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Post ID: @g6+1kg58m4m8

Likely since they declined to relocate HR classed them as terminated for cause (the cause being not reporting to work in location assigned to them). So not really the layoff/severance situation that gives you 2 weeks per year served up to maximum. Su-ks, but this is how BNY is keeping the share price up by sc--wing over long time employees.

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Post ID: @bv+1kg58m4m8

Knew someone who was here 12 years and cut last year. They got one week per year.

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Post ID: @ah+1kg58m4m8

I got laid off in 2020, after only working for a year and I got 3 months bro.

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Post ID: @a8+1kg58m4m8

It sounds more like they were marker below, paid during the notice period which is 30 days but kept in total as an employee for 60 days

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Post ID: @a3+1kg58m4m8

No i know people who got 2 weeks for each year of service.

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Post ID: @a2+1kg58m4m8

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