Topics regarding layoffs at Bank of New York Mellon Corp.

Topics regarding layoffs at Bank of New York Mellon Corp.

Many of us still believe that hard work pays off

That’s the problem. A normal person isn't a grifter. They derive satisfaction from professional achievement—doing their job well, growing in their field, and being fairly compensated. They expect, rightly, to be recognized as both a person and a... — read more 

No more Sub plan

Now it’s a severance meaning a one time lump payment fully taxed and we don’t qualify for unemployment. Sc--wed us again!

From Wexford and Edinburgh to Jesus and His Apostle

I do not expect to surprise you with groundbreaking insights but simply to point out the evident truths your decisions reveal. You dismiss loyal employees, gathering them into rooms to deliver scripted speeches about “strategic rationalisation.”... — read more 

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| 4490 views | | 1 reply (January 25, 2025)
Post ID: @OP+1jj590zkh

Planned office closures and headcount reductions

The bank will be taking many opportunities to reduce headcount, focussed on higher paid staff with longer tenures and located in offices away from regional HQs. Lower merit and bonus payments is one tool as is performance measurement forced on a... — read more 

Edinburgh Site

All Edinburgh staff encourage to join a call at 1pm tomorrow regarding an important site update…… Wexford call at 10:30am for their news

Wexford site

Breaking news on local radio about wexford closing. Yet staff have heard nothing.

Is this the week?

Is this the week that the first round of announcements typically happen?

Need reliable Information - Decision to be made

Last year my team got decimated in P-M. Though the title did not go away it was a demotion in role and responsibility. It just reflected in the bonus and merit increase. Effectively the NET PAY has gone down I have decently long tenure and... — read more 

More than 22% of job listings are fake.

As if things arent tough enough, it is becoming well documented that 1/5 and probably up to 1/3 of all job opportunity listings are fake. About one in five jobs posted last quarter was a “ghost job.” Researchers found that on average, up to 22% of... — read more 

Layoffs in Feb

Outside of being let go for cause, the layoffs will commence in February. Good luck to all.

Analyst

The analyst are catching on to the bullsh-t being sold. The reactions on the responses are PRICELESS. PLATFORM OPERATING MODEL will create some very large operating losses.

New Incentive and merit system

Process is broken. Meet expectations, sh-t incentive and no merit. Somehow, expect me to put extra effort in 2025? 2 years in a row, same BS. Right, keep waiting for my extra effort.

RIF'd today

Work in Finance and was let go today. I have an outstanding loan against my 401k. Will i be allowed to pay it back monthly?

Earnings Report - Line item

Did any one notice the Earnings Report and the amount of money they have allocated for Severance related litigation costs ? 4Q24 was not even big .. Results include $165 million of noninterest expense primarily related to severance and litigation... — read more 

Where did it all go wrong?

What happened to Bank of New York? 20+ years ago it was a decent place to work. Great benefits. Employees looked after to an extent. Pay wasn't fantastic compared to other places but it wasn't bad. Morale wasn't awful. Now - it's down the sh1tter... — read more 

Sh-t pay for slaving away

My total pay is going down each year since I joined 4 years ago. The base pay is going up 1-2% each year while bonus is going down 5% each year!!! I fu--ing hate this company and I am trying to leave but the job market is so a-s ive only gotten 2... — read more 

F-K BNY

Ive been here way longer than i should have been and the last few years have watched good, knowledgeable people get laid off while sh---y ones stay, sr mgmt has zero clue what goes on or what it takes to do a job but continues to make decisions being... — read more 

Do More With Less, Get Less

My department was almost halved in the last year and took on 25% more work. Lower merit and measly bonus increase. People will be leaving. So insulting to good, dedicated workers. And they expect rah rah at the clown halls…….

by
| 5120 views | | 5 replies (last January 16, 2025)
Post ID: @OP+1jhpf4mw2

Hey Robin, AI cost savings idea

Robin, Why not use AI to get rid of some of the obese bloated salaries in Tech that are duplicates and overlap? How hard are these jobs and why can’t we use AI to get what they do weekly and their human decisions formulated. Then leverage other... — read more 

Record Profits but non-existent Merits

We all need to quiet quit and not care anymore!! It doesn't matter if you work your a-s off. It means nothing to executives. If they don't give a sh-t about us and won't reward us when company makes record profits, why should we? They can shove... — read more 

Bonus Transparency

U.S. based Job Grade Level: I Current salary 72K Merit increase 3% Bonus 12K Just trying to add clarity for everyone concerned what we can expect raises to look like.

Leaving after bonus

Does anyone know if we leave within the next 30 to 45 days do we have to repay the bonus? I'm done with this place....

Bonus comp time

Are there bands for Level with regard to incentive ? Meaning if I am promoted from a K to L and I am meeting/exceeding expectations. Should I expect to get double my incentive if all things are equal ? Also do many people get RSU ?

Thank you

Just wanted to say thank you to everyone, except the trolls, for making me feel more sane and less alone. I worked at BNY for a year. A few months in, after only positive feedback, my manager suddenly told me that I was not meeting expectations. When... — read more 

I have exceptionally toxic manager

I would like to change the team, but I think they would block me. Simply as a power play. They are well aware of my dislike for them, and the feeling is mutual. Wouldn’t they prefer me to be gone elsewhere? But that would require someone rational and... — read more 

Site Closures

Has anyone heard anything about which sites will be closed next?

Do companies even look at the RTO fallout analyses?

They copy each other, and have been implementing the RTO as if it’s the smartest move in the world. In the meantime, all data points to it being a failed policy. First and foremost, it makes talent leave in droves. The only ‘success’ of the RTO is... — read more 

I came on board recently

And here I am, already thinking of leaving. This is my third bank, and it’s almost comical how the same issues repeat everywhere: passive-aggressive management, pressure to perform, unrealistic expectations, tedious processes, toxic work environment... — read more 

How do they announce office closures?

Just wondering how, historically they have announced office closures? Do they do a full office town hall and tell people in person, do they send an email etc.

Every new manager is worse than the last

We get a new manager every six months on average (which is a problem in itself), and each one is somehow worse than the one before. We're now on our fourth manager in two years, and it’s starting to feel like the only qualification for the position... — read more 

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