Thread regarding Bank of New York Mellon Corp. layoffs

As these layoffs continue this situation looks to me more and more like running the company to the ground then like an organized and strategic reduction of workforce. I mean, we were a dinosaur company as it is, and it’s clear, even to a college grad that arrived recently at the company, that without changing the outdated ways in which we do business there is no light at the end of the tunnel. Instead, they are reducing the workforce left and right, without any plan of a functional reorganization. Seems to me like the leadership made peace with the fact that the company is in downfall and that they are intentionally trimming bit by bit to buy time and get more money out of the company.