Are more people being laid off today? Anyone knows how long this is going to be for?

It would be helpful to know what department you are working at if you were laid off.

Does anyone know when/how long ago management was told they have to pick the people they are going to get rid of? I feel like I've been set up. I took a lateral move in August but the entire time i was there especially in the training process I felt... — read more 

I was laid off. Three months prior to being let go we were instructed to watch expenses. I spoke to my manager and said "you know what happens next? First its cut expenses, then its letting people go. He said don't worry that's not happening in this... — read more 

If additional people leave on their own due to the stress and awful conditions, then that’s addition reduction without having to pay out a package. Doesn’t matter who it is. Anyone can be replaced. Experience and knowledge are meaningless. I think... — read more 

Check out the puff piece published a few days back. Pay attention to number 6 https://moneyinc.com/bank-of-new-york-mellon-ceo-charles-scharf/

The escort out of the building by security is appalling. I think they are treating the newly released employee as a criminal. Let the person say goodbye to their co-workers. In many cases they have spent years working together. I think it makes the... — read more 

Sadly, in financial service companies the culture makes heroes out of those who cut costs, improve margins, and boost dividend payouts. Their Boards are populated by the 1%, who push for and readily approve the “corporate initiatives” to grow profits... — read more 

Just in case I'm among those affected in this - what seems to be endless - round of layoffs, does anybody know how long it takes to receive severance payment? In addition, what happens to medical coverage? Are we covered until the end of the month or... — read more 

I don't see anyone mentioning when this will be over, at least regarding this wave of cuts. Can we expect to find out whatćs the time frame for this wave or at least what numbers are they planning to hit, or maybe we are destined to always live in... — read more 

Similar thing happened here at India in October 2018. We're worried a second wave will start starting tomorrow. Tough times.

I am 58 years old, a manager for the last 12 years, and was recently laid off. This is the first time in my 25-year banking career I’ve ever been let go. Still in shock. I didn’t even get to say goodbye to my team.

It's the sad reality. Adding to it, ones job is now on the mercy of their Management and higher ups, which leads to higher bureaucracy. You do not have any right to have an opinion, just keep your mouth shut and do what's asked "So more with Less"... — read more 

Do we know for sure there will be more layoffs today?

Another sleepless night thanks to BNYM. Kept tossing and turning, worrying about even more cuts when I get to the office today. I hate that we have so little info on this whole process. Why can't they tell us: yes there will be layoffs, we'll lay off... — read more 

A Japanese company and a North American company decided to have a canoe race on the St. Lawrence River. Both teams practiced long and hard to reach their peak performance before the race. On the big day, the Japanese won by a mile. The North... — read more 

Let's start with why we need to build the wall-- to stop the exportation of BNY Mellon jobs overseas! We have shipped thousands of jobs to India and now we are going to expand that further and focus more on Poland. These layoffs are part of the... — read more 

At first I was given a meets target, then was told they needed 10% to be below target, but was assured this would not affect my raise or bonus. As my manager says "s..t flows down hill and there I was. I let them lie on my review and accepted it like... — read more 

https://www.post-gazette.com/business/career-workplace/2019/01/15/BNY-Mellon-cuts-staff-layoffs-bank/stories/201901150162

I've worked at the Bank for almost 10 years. I can honestly say that the company does have A LOT of dead weight. There are too many departments and too many "floaters". But the biggest problem are there are too many under qualified managers. And just... — read more 

It's good to see the media caught wind of this, however the only article I saw looked like it was written by a grade school student in about 5 minutes. Hopefully more news outlets will pick this story up and put some time and effort into reporting... — read more 

The cuts are expected to continue through Wednesday as part of a loger term Initiative on cost reduction and multiple product exits. Salaries at BK are typically low - 70,000 to 115,000 for senior sales and 60,000 to 100,000 for product management... — read more 

We continue to optimize our global business structure to increase efficiency, enable faster decision-making and better serve our clients. As a result of these strategic actions, periodic staff reductions may occur. Source:... — read more 

I am hearing the numbers will be in the thousands, NOT "just" the hundreds; the day after MLK day and into February

https://www.post-gazette.com/business/career-workplace/2019/01/15/BNY-Mellon-cuts-staff-layoffs-bank/stories/201901150162?utm

Was in fund accounting since 2000. Left last year. Constant offshoring of work to India and Poland. Constant system issues. Zero input into system prioritization even though there were weekly calls where the business had "input". Weekends, 60 hours a... — read more 

Anyone noticed things to be a bit skewed towards laying off older folks. I know several folks who got cut this week and all of them are 45+ Just curious what others are observing? We may have a class action brewing up? Right?

People who have devoted 15 to 25 years of their working lives to this company, worked their way up, and contributed so much, are being walked out with no goodbyes. Everyone is afraid. They cut tons of people in Offices including Pittsburgh, New York... — read more 

Hearing layoffs all week then round 2 in February. But who really knows. Maybe all year it goes on

BNY is a sad place to be. As someone who was laid off on 1/14, I can tell you they were forcing managers to put employees into "below expectations" categories on annual reviews to cut the merit budget. They were taking perks away left and right. Such... — read more 

Any idea when they will be done and the worrying can be over?

In the IT, multiple people were let go, including 2 I know very well

Don’t sweat your mental state, lots of us in the same boat. Second time for me in 3 years. Even though I was expecting it, and didn’t really like my new position, anyway, it very stressful. You’re in fight or flight mode all day and nothing you can... — read more 

When I went through this board I saw there were some folks that were affected by these cuts on this board. I would appreciate if someone posted their actual experience regarding their layoff. Don’t want to get into any details but I got some... — read more 

I want to be realistic here, so I’m going to say it: we all had the opportunity to see this coming unless we chose to look the other way in order to feel more comfortable. BNYM is a dinosaur company, with uninterested management and outdated... — read more 

I left in 2016. Is it true they are discontinuing WFH program? Please let me know.

With cuts and internal shuffle so large, why don't we see at least some media reports?

For new folks here, there is an "ACTIVE" button right above the first thread - you can use it to see what posts had recent replies. That's all from me. Anyhow, I hope this helps someone. Good luck all...

BNYM is the epitome of what is wrong in the world. Instead of growing with revenue, they cut employees to be "more efficient", or the easy way out to drive margins. Management is awful and can't manage their way out of a paper bag. The former... — read more 

https://twitter.com/TheLayoff/status/1084939286695346180