word is there are over 800 PMs and bank is planning on cutting almost 500 thanks to P-M. anyone confirm?
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The CTOC was the worst overspending that I’ve ever witnessed.
Post ID: @dht+1s3QUPP5
Never gonna reserect anything with the platform goofiness.
What an id--t. Bony bought Mellon because their pension was over funded, BONY bought Mellon because Mellon was over funded as the Pittsburgh ERISA bank after the rust belt crash in 1982.
It will actually be another 3% layoff. We haven’t had a significant layoff in 42 years.
Actually we have no talent to retain…
It’s typical bad spend.
How about the CTOC? Has anybody ever seen such pure wasteful spending?
Unlikely. We’re in the lowest level of layoffs in over 42 years.
The Bank has no talent to retain.
You haven’t been here long enough to have an opinion. Not long enough to have an
If so why did BONY need to raid the Mellon pension plan to make their own plan solvent?
Mmmmmm……
@1fip - hopefully this was a prank post. Mellon is the root cause of our problems . Look at what’s happening in Pittsburgh where the same ancient 25 MDs rule the roost. These legacy problems won’t go away until these guys retire.
The Bank has no talent to retain.
There is essentially no talent to retain. Virtually anyone with a current skill set has left the Bank.
RTEs are supposed to replace Program Managers
@iwza+
Translation won't help, you need to 'comprehend' the gibberish for which there is no tool. seek help from colleagues.
Breaking News… it’s been at least five years since BNYN had any remaining talent to retain.
Really sad to see the Bank getting run into the ground after BONY acquired Mellon and promptly began to drag us back to the Stone Age. Don’t see any future for BNYM now that Mellon technology and ingenuity was steadily destroyed.
We are now only a parts Bank for FinTechs looking to fill in gaps.
Guaranteed that there is no BNYM as we knew it in five years. So sad that Mellon got acquired and destroyed by these stone age fools.
Last one out please turn off the lights.
So, it turns out that the Bank is utterly unable to roll out new projects without our Boomers. Who didn’t see this coming for the past 20 years…
Pretty sure that all of our real talent has already left the Bank…
Been a long time since we’ve been able to even attempt a serious project.
Can anybody interpret this complete gibberish post? Can we please have a translator?
All acronyms are made-up dude. Just that they were made up by folks with higher IQ than thou. You will find yourself on the other side soon enough to distinguish gibberish from reality. What is gibberish right now is what is occuring in the company.. ha.
Easy to see coming. Most of the US based PMs are BAH, nowhere near an office. Not a good fit when all the SMEs you’re interacting with are in office.
What is PM?
From made up acronyms like “CxO” to gibberish such as “need to have owned” to “the com” this post is complete gibberish…. And will hit staff” …
Move right along, nothing to see here…
If true, good luck herding all the cats that are needed to do something simple...some projects involve 10 ARTS..I would love to be a fly on the wall to see how those projects will be managed going forward....
why have the CxO leaders paid millions for a luxury consulting co. for work that they need to have owned ? now they have splurged on this fancy consulting , they have to prove that it works. Unfortunately the collateral damage caused is full on destruction both for the com., the staff and will hit clients too.
The Bank has virtually no talent to retain. Pretty much all of our talented and effective employees have voted to leave with their feet.
Should be no brainer to eliminate traditional waterfall PMs that couldn’t adapt to Agile.
What’s comical is when the higher-ups aren’t around, nobody has anything good to say about this new model. But when the head of ECRSO asked how it’s going, everybody’s too scared to tell the truth.
Only one that this new model made sense for is the consultant that sold it
You heard it right - 70% cut in the next 12 months. this bank doesn’t know how to retain talent
This platform model is not going to give them any benefit - they will spend more on wrong things. very very bad culture - I used to work for the bank last year