Topics regarding layoffs at Bank of New York Mellon Corp.

Topics regarding layoffs at Bank of New York Mellon Corp.

Go into preparation and planning mode

I know that there are those who feel safe in their positions, but it is still much better to be prepared so that you don't end up without your personal items because everything happens very quickly. It is better to have them packed on time. And of... — read more 

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| 11350 views | | 2 replies (last January 11, 2023)
Post ID: @OP+1kCxQIL8

BNYM, or Lehman?

Technology Executives to 3-4 levels down from the CIO are heavily ex-Lehman and people picked up along the way at Barclays, BoA. FOBs as they are called. And the new CEO wonders why the Total Cost of Operating Tech is so high (hint, do some basic... — read more 

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| 13040 views | | 1 reply (January 10, 2023)
Post ID: @OP+1kBIqrjB

I see a lot of people are hoping to be laid off

Why didn't the bank offer a voluntary option before layoffs? Judging by this forum, there would be more than enough people for whatever number they have in mind. That would spare some people a mountain of pain and make others extremely happy. Why not... — read more 

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| 13630 views | | 5 replies (last January 12, 2023)
Post ID: @OP+1kBWvPp5

BNY Mellon

Subject says it all. Give your up or downvotes accordingly y’all. Let’s see which direction those votes go.

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| 14150 views | | 5 replies (last January 15, 2023)
Post ID: @OP+1kBXAArl

Millennials

In my experience the absolute worst group to enter/engage in the workforce, possibly ever. They take time off often for lame reasons, believe YOU as a manager OWE them high wages, out-of-sight bonuses, and annual promotions. They have little... — read more 

Employee Retention Contracts

Anyone else get asked to sign an employee retention contract around October? With the promise of a bonus of 10% of your annual salary. Came with a bunch of stipulations and clauses that would allow them to reduce the amount or cancel the agreement... — read more 

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| 16900 views | | 7 replies (last January 12, 2023)
Post ID: @OP+1kyshaeU

Timing of Layoffs

Timing is not ideal because it’s impossible for the Company to predict how many people plan on leaving with their bonus clears but they are required to rightsize the workforce before that occurs (early March). So, that is what creates risk for... — read more 

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| 18640 views | | 13 replies (last January 7, 2023)
Post ID: @OP+1kyai6HK

Bonus and resignation

Am I correct in assuming that I need to wait until I actually receive my bonus before putting in my resignation? Am I in any danger of having it clawed back if I give my resignation in March 1st?

Office supplies

Apparently we now have to supply our own office supplies? Can’t find pencils. Tablets, sticky notes, etc.

A place for mediocrity

Of course there are still many knowledgeable people here, not all of them have left, but it is unquestionable that this is becoming a place for mediocrity. Is it possible to make a comparison of workplace competencies a few years ago and now?... — read more 

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| 15810 views | | 6 replies (last January 6, 2023)
Post ID: @OP+1kwI1laF

It's no longer just the management

This management has ruined this company so much that the entire organization has turned toxic. I get the feeling that everyone hates each other, and there is zero sense of community. People treat each other like they're disposable and not human... — read more 

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| 15600 views | | 9 replies (last January 7, 2023)
Post ID: @OP+1kwgVuuS

Free Coffee

GS our real boss is ending free coffee. Undoubtably BNYMELLON will follow the leader, after all we’re getting 10 shares and should be all for eliminating these expensive perks B/T/W gif those who questioned TB. It came about after a town hall where... — read more 

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| 15720 views | | 4 replies (last January 6, 2023)
Post ID: @OP+1kwBhTPv

Indispensable at work

I agree that more or less everyone here is replaceable, we are just a number here, but it is not true that there aren't those who've made themselves almost indispensable. They are relatively few in number, but there are such examples. Have you... — read more 

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| 15920 views | | 3 replies (last January 7, 2023)
Post ID: @OP+1kvfj31O

The truth is, we are all replaceable

There is always somebody cheaper. Every company is looking for a way to cut costs. No matter how well you do your job, they'll find someone who can do it for less money, and they won't care about the quality of their work. So don't be surprised if... — read more 

Layoffs next week

Can anyone actually confirm layoffs next week? Please only comment if you know or you actually get RIF'd.

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| 20940 views | | 21 replies (last January 12, 2023)
Post ID: @OP+1kvek378

All these ups and downs

I've been through a lot of ups and downs here and I don't think I've ever had a worse time here than now. Do you remember any periods in the past when there was more tension and stress than now or when there were fewer reasons to stay?

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| 16340 views | | 7 replies (last January 6, 2023)
Post ID: @OP+1ku21l0l

Time to leave

If they meant to keep good employees with the change to the 401K plan, I think that plan will backfire. This could even encourage those who were thinking of staying here for a while to leave as soon as possible. Have you started sending... — read more 

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| 16670 views | | 7 replies (last January 6, 2023)
Post ID: @OP+1kueEMnM

401k idea set to minimum

Basically, some of us will make it out alive 'working' at bny mellon. While, others will not. I assume that the best approach is to reduce our 401k matching to the minimal. Is it 2% the minimal contribution to our wage/salary is the lowest that we... — read more 

Another disappointing year at BNY Mellon

I would say I hope the next one will be better, but this place has made me a jaded pessimist. I only expect the worst these days since that's what I've been getting for years.

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| 19010 views | | 2 replies (last January 6, 2023)
Post ID: @OP+1ksSVZsr

You have options

I've been thinking about all of you, and I wanted to send my prayers. I know a lot is going on right now, but it's important to remember that there is life outside of BNYM. A very good one, at that. I just want to throw out there that everyone... — read more 

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| 20460 views | | 3 replies (last January 2, 2023)
Post ID: @OP+1krRvEXY

Employee Stock Purchase Plan- Is it worth it?

I am new to the world of finance and could use some guidance from those of you who understand the game much better than I. Is contributing toward's the ESPP worthwhile, and if so- what percentage of your paycheck is good to invest? Any insight is... — read more 

Bonus Payouts

Anyone know when numbers are to be announced and paid out?

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| 22310 views | | 7 replies (last December 31, 2022)
Post ID: @OP+1kqJJshv

Pay cuts coming

Remember, any raise less than seven percent is a pay cut.

They drive the best talent out the door

I’ve seen some of the most talented system architects give up out of frustration with BNY politics. Many in senior management are threatened by people they realize have better ideas than they do. It’s hard to imagine more corporate self-defeating... — read more 

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| 19813 views | | no replies yet
Post ID: @OP+1kqlImNu

Where would you go?

If laid off, where would you start your search for a new job? I'm considering leaving the banking sector completely. Everywhere I look, it's the same cr-p, just packaged differently. I'm thinking of trying to join a much smaller bank or just look... — read more 

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| 20500 views | | 7 replies (last January 2, 2023)
Post ID: @OP+1kqpeVca

Where did all the money go, Roman?

All those new groups of people who do what, exactly? The senior hires with fat pay packages? The people being paid Silicon Valley start up wages to reduce fax volumes? A crypto platform that nobody wanted or needed, rolled out at the very moment that... — read more 

We can all agree major cuts are coming

It will most likely happen next month. What are you doing to prepare in case you are affected? I have tightened the belt in the last few months and plan to continue saving as much as I can. I have also started networking just to feel out the... — read more 

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| 32910 views | | 20 replies (last December 30, 2022)
Post ID: @OP+1kjuRJy5

Hollow holiday wishes

Anybody else tired of the canned hollow holiday wishes from the executives? They all mention supporting or RTO & other propaganda.

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| 32530 views | | 14 replies (last December 31, 2022)
Post ID: @OP+1kiEVDQG

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