As part of the economic relief package that was approved there is an opportunity for BNYM to accept the "employee retention” tax credit that's estimated to provide $50 billion to companies who retain employees on payroll and cover 50% of workers' paychecks. Companies would also be able to defer payment of the 6.2% Social Security payroll tax.
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OP here back to say "told you so"
It’s time to vote is it gonna happen by 11:59 p.m. as you say the the layoffs are gonna conTinue and the vote pays the bill
They will take the money and invest it in technology and developers and engineers. So they will replace the dead wood with more technology. Layoffs will continue as soon as the pandemonium subsides
Correct, they'll take the money and lay you off early next year. Now employees will truly add value to the company
I was already using masks before coronavirus hit - I used one every time I had to do the needful in the 14 floor mens room at NYC.
BNY has ALREADY laid off people this year. Before coronavirus hit.
This stimulus package you're talking about is to keep businesses that were healthy before COVID-19 from laying employees off, not miraculously save businesses that were hemorrhaging cash before the economy crash.
Forget about 6 miles, former employee will throw up just thinking about this place and co workers.
Layoffs are a form of social distancing ... forcing the ex-employee to stay at least 6 miles away from their former desk, permanently.
Lay-off are happening, banks are planning to complete any layoffs which are already in process, no emotional distress in the current environment! Good luck under way for many banks!
Bad luck for many, lay-off actually is good thing, market knows that BNY lay-off smart people and keep those who help sink, some of the people got lay-off are shining in big tech companies making 45k plus more than they make at BNY.
If you know what you are doing, don’t be sad, get out or start preparing yourself. You will become smarter working with smart people.
Say, I see "Weekend at Bernie's" is on TCM this afternoon. How about we all ditch work (make sure you set your status to 'in a meeting') and watch it?
Pollyanna