Thread regarding Bank of New York Mellon Corp. layoffs

No need for executives - you can eliminate all CAO’s, all Chief Operating Officers, all Directors. After all, just what are they directing? Those overpaid RM’s? If they aren’t on the road actually selling product - also ripe for compensation reductions. Ever wonder how they remain employed when organic revenues are literally non-existent? Why aren’t the sales managers out on the road pounding the pavement?

Oh goody! Does that mean no more wasteful meetings every week to hear the same ole same ole?

Productivity should actually rise for once!

We need to be together to be able to collaborate. Ask our cfo.

Huge riddance of paper intensive processes and people cut with those

WFH data being collected now and when restrictions relax will be used to organize permanent WFH

Between 30-50% of people will work from home permanently and go in once per week or even less

Raises will take WFH into account at least next year and year after WFH lower cost lower raise

No raises next year to make up for this year's technology spend

10% headcount reduction at least next year

New hiring for almost every position will require some working with data background

Be it tableau or SQL or something similar

Pass out the gas masks again - I have to use the men's room on 14 when we go back.

No managers are required in new working model. People who do the actual work and deliver it to Clients are much needed at this moment unless they are replaced with Bots .Say another 10-20 years when 5G controlled bots are in place lol . Supervisor is required to monitor the work . Manager + 1 +2 + 3 and hierarchy would abolish .

The think the major outcome from this 'new' work model is — less employees.