Thread regarding Bank of New York Mellon Corp. layoffs

PA Public-Private Partnership or Let's Play Political Hardball?

If you had to guess how the negotiations went down, you might imagine something like this: BNY Mellon strolling into town with the confidence of a Fortune 500 landlord who knows exactly how many jobs, leases, and tax dollars the state would prefer not to lose. And poor Gov. Shapiro — or rather, the Office of the Governor — suddenly finding itself in the awkward position of “strategically cooperating” while BNY casually unrolls a PowerPoint titled “Incentives We Expect, In the Spirit of Partnership.”

Because let’s be honest:
BNY Mellon didn’t walk into that meeting hoping for tax credits.
They walked in expecting them — the way a cat expects you to move when it wants your chair.
So yes, it’s entirely plausible that the conversation included a polite but unmistakable corporate nudge along the lines of:

“It would be a shame if all these jobs… relocated themselves to Pune.”

And voilà — multi‑year tax credits, workforce incentives, and a fresh coat of paint for Ross Street magically appear.

BNY wasn’t negotiating.
They were playing political hardball with home‑field advantage, a loaded bench, and the scoreboard operator already on their payroll.

In the end, the state got to announce “investment in local jobs,” BNY got its incentives, and everyone pretended this was a balanced partnership rather than a masterclass in corporate leverage. RV's smile says it all! #Life@BNY


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| 1 view | | 4 replies (last April 2) | Reply
Post ID: @OP+1kn2vqqxp

4 replies (most recent on top)

@OP Well-written and well played. This is exactly how this went down. RV and his goon squad are playing this leverage card everywhere on the planet to negotiate favorable tax credits, real estate deals and workplace incentives.

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Post ID: @hq+1kn2vqqxp

Love this.

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Post ID: @cv+1kn2vqqxp

@a2 Absolutely! This game strategy is already in progress. They are taking lessons from the Lake Mary experience. The experienced higher cost resources and those servicing back-office functions from all locations are still the ones being squeezed out in droves and replaced by Pune.

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Post ID: @a4+1kn2vqqxp

Except layoffs in Pittsburgh will continue unencumbered in droves being replaced by Pune or former JPM

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Post ID: @a2+1kn2vqqxp

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