Did I get this right? There will be no more layoffs at least until November?
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My job was eliminated back in 2017. At that time I hated my job and was absolutely miserable after 20 plus years. In my mind and heart I felt like quitting almost every day. A lot of it had to do with our senior manager who was not a nice person. In 2017 I was let go and my life got so much better. There will be an initial two week period of shock and anger. But it will wear off. Life will go on . One word of advice PLEASE make strong connections outside of BNYM because it will help you land another job. I now work for a smaller company and life is absolutely wonderful. I will NEVER work for a large financial firm ever again. BTW my former not so nice senior manager was canned a year later. Karma......
7our... unless you are politically connected, you’ll never know if you are on the list... that’s the beauty of it from a senior management perspective...
You ask because you are stressed, facing uncertainties on how to make life decisions from buying a home to stretching for college costs for your children or simply even making the rent or replacing the old car to get to work. This stress will build. Anxiety will build. Ten to Twenty thousand beaten down employees stress on this every day. Some significant portion of them mange to pick themselves up and find new jobs,
Mission Accomplished!
Paying a severance or a “Sub” package to a displaced employee is infinitely more expensive than getting you to leave of your own accord. As senior management has often stated, attrition goals have not been met. In English this means “We were counting on more people leaving... this is really too expensive to pay their displacement costs. Can we make people miserable enough to leave for free?”
How do you know if you're on the list?
Thanks for the heads up date for Dec. 2nd. I'm anticipating I will be on the list this time, and not soon enough.
Get me out of my misery! How can i get on the list and be packaged out???
That bunch in alternatives are actually disturbed, it's crazy the little things these crowd micro manage, can't delegate, just bully every person under them and make these crazy rules
There are a bunch 20 plus md/vp's in New York alternatives, don't see them going anywhere. They hold on tight to the work/decisions. All of them have the worst case of micromanaging, I've ever seen.
The package is a lifesaver and bnym is the sinking ship.
Layoffs can happen any day. I wasn’t laid off on a major day like most.
Chuck is not done yet - next round in December.
When are they chucking chuck?
My MD said layoffs can happen any day if senior management thinks so. Confirmed that Dec 2 is the next company wide wave. I was told that BNY MD’s & VP’s are targets if been there 20yrs or more. Make room for new blood or CEO friends. Good Luck to everyone
Depends on geography. Pittsburgh's next round across business lines is confirmed week of Dec 2.
Revenue stagnation forecast for next 4 years. So only other option is to slash expenses. Share price is 20% below acceptable expectation. So that means significant cuts. Chuckie may walk out that door and keep walking....he is a complete failure on all levels. PS...he can bring his clowns with him.
There are always more people than you think who know something and are willing to share. I was laid off in January and I was ready for it thanks to the posts on this forum. Hopefully, somebody heard something again and will share for the OP and others who'd like to know.
Anyone who knows for sure is not going to be posting out here.
I could use some time to regroup before having to stress again...