Thread regarding Bank of New York Mellon Corp. layoffs

@16d Even when they're firing for cause (like a fake performance rating), they're generally giving three months lump sum. Not sure if they're giving anything for RTO.

If he had been riffed, he probably would have been entitled to a year's salary and health. That's why they're pinning performance problems on long-timers, so they don't have to pay. Even though challenges to those cases are the most likely to be won by a decent employment attorney, too few people are doing that.

If he qualified for a pension, perhaps the terms might change if fired for cause. Don't know.

They don't pay severance if you're fired. So there's a lie here somewhere. Also if he received severance he should consider it a gift because they don't give you sh..t for retirement in terms of compensation so he would have left 6 months from now with nothing

Eliza is The Panacea.

Not defending this company at all but in this case, if 6 months from actual retirement and they paid severance - who cares? Great for whomever this was. As for the rest of us, I wish you all the best. Dealing with the most unethical company in the industry at the moment.

@bx, if you had clients calling your personal cell phone, you should have been fired LONG ago.

If you’re speaking of Frayman, he sure was lucky. He took the package and immediately accepted a role replacing Newman on Seinfeld. Talk about incompetence paying off.

Fired 6 months before retiring with severance I hope is like the best thing that could’ve happened for this employee. Like a gift!

He is super lucky!! He will get his severance and then retire and get that! I’m happy for him!

When I left they had no replacement ready… I literally got a dozen urgent “ fire drill “ type calls a day from large RIA clients when I was gone, like I normally would when I was there…they had absolutely no idea I was gone, and these d-mb shts didn’t think this through and had no plan in place upon my departure….client calls kept coming to my cell after I left for nine or ten months… fck them…!

I guarantee the “new manager” isnt the one who pushed to fire them. They are continuing to terminate and layoff for bullsh-t reasons and bny has been playing games for many years even with people close to retirement. It has become one of the most vile employers ever

Congratulations to your coworker!!!

I heard a tale from an associate that a department SME was terminated at BNY without a back-up in place. Meaning not only did this department lose knowledge immediately, but they also lost a warm body without replacement.

So, this terminated employee had their work redistributed among the staff that remained, but the remaining staff and leadership did not know what to do with it.

Thank goodness for Eliza. :-)

They did him a favor.