This way it’s just death by a thousand cuts. I don’t see anyone that benefits from this situation, where we’re in a state of constant restructure and constant layoffs, but nothing other than that is happening.
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Charlie hasn’t sold it because the parts he wants to well— asset management —- have no bidders at the price he needs.
They would have done better to offer early retirement rather than the BE BS. I would have taken it. Plus it's easier to explain if you have to go on interviews. As it is, I'm in that "too young to retire, too old to job hunt" position. Who wants to hire a 60 year old? If I can't get hired, I may be able to qualify for disability, but that's my situation. What about those who aren't in my position? And disability certainly won't replace a full time salary. I know our jobs aren't guaranteed, but it s—s when you lose control over your career this late in life.
I was thinking the same thing. It’s daily stress for all employees. I’m too old to change jobs, so I’m stuck here till they show me the door. I need a job. People are actually physically getting sick over this place and all the stress. When I was on vacation I felt so good, relaxed and happy. The minute I walked into BNY I felt sick to my stomach. It hit me just how toxic this place is. I wish they would just tell us the plan. Westborough MA is a ghost town. Hundreds and hundreds of people let go, it’s a big empty building. Makes no sense to me at all.......
Ugh this really is a third world company no other way to explain it. Sad.
We shall see after next wave of layoffs Dec 2.
Our competitors are watching with glee. They are using the missteps of BNYM as a strong selling point to grab business away from them. Can’t wait for the next quarterly earnings announcement! How much longer are they going to keep this buffoon?
I think they get a kick out of making people suffer.
I feel that same way.
Also, they could ask for volunteers, like other companies that offer “early retirement”.
BNY just not handling this in a good way, however you view it.