Topics regarding layoffs at Bank of New York Mellon Corp.

Topics regarding layoffs at Bank of New York Mellon Corp.

Above Model?

My management chain are now communicating that employees are expected to be ‘above’ model. This came via email and also mentioned on a call. When questioned we were told this is a firm-wide push. Anyone else hearing this?

Finance town hall

Besides the propaganda & massive egos on the stage what I took away from this was they were setting the stage for 5 days RTO. Much of the time was talking about the how great the buildings are and how great it is when they come into the office and... — read more 

any ideas on the next purge date?

since they will save money by waiting until February they will probably wait anyway, but curious of the dates now in feb. Also curious if any senior managers knew this was coming when they were directed to axe hard working staff or if it was a... — read more 

I can't remember a worse job market

I've been really struggling over the past six months of searching for a new job. It’s not just that there are so few opportunities, it’s also how much things have changed since the last time I interviewed. Apparently, it’s become acceptable to ghost... — read more 

Boston office closing?

Is there a timeline? I have a friend there, but haven’t been able to get hold of them and was wondering what the status was there.

Treasury Services Promotions

Shocked by several of the people promoted. Some have only been here for six months, but were promoted to senior director. Others were promoted just a year or two ago and got a promotion again. How does that happen? How could you possibly... — read more 

Deferred Comp Payout (Newport)

Does anyone have any information on how the payout works? It appears they deduct the money on Jan 1 but they do not pay the individual anywhere near that date. As of today, Jan 22, still nothing. Cannot get an answer from Newport and BK won't give... — read more 

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| 6220 views | | 1 reply (January 24, 2025)
Post ID: @OP+1jj7wa4r2

Do you also experience issues due to a crippled team?

Quiet or large-scale layoffs never lead to increased efficiency or productivity. There’s rarely any proper follow-up in terms of workload adjustments or people management. And, as a rule, several critical roles remain unfilled — without exception. At... — read more 

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| 6040 views | | no replies yet
Post ID: @OP+1jj75e0ss

Operational failure of epic proportions

I wish I could speak freely and specific on here about the detrimental impact on boarding a team from India has done to my department. You can’t tell anyone in upper management, it’s hard to discuss with peers, and the amount of extra work they have... — read more 

Caught in the middle

It’s hard to tell if I’d feel better staying or getting laid off. Shouldn’t be this torn about it, right? But here I am, stuck between the two and not sure which way I’d actually prefer to go.

Future for Cork

With the news that Wexford is closing and the focus on the new office in Dublin, is there any future for the Cork office?

This is what I was always worried about

Once they start changing the rules about what we get when laid off, all bets are off. They’ll test the new approach, and if it’s still not to their liking (let’s be real, it never will be if they’re paying anything), they’ll just keep tweaking it... — read more 

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…….

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| 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 

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