Thread regarding Bank of New York Mellon Corp. layoffs

I just had a bowl of prunes for breakfast. I'll volunteer for that assignment.

I'm not normally confrontational, but I'd pinch a loaf in Todd's morning coffee if I had the chance.

No, don’t have a BNYM shirt with TIS across the back... not even sure what that is. Just a fan of anyone who dedicates an entire career to one company, humbly working his way up and learning the organization. That’s so refreshing in an era of job hopping Senior Management temps.

There will be automation and cuts for survival. Todd may well have the background to make wiser cuts than his predecessors. You should give him a shot as a human being. If he fails your test you can always wallow in beer and baseball.

A Todd fan? Haha. Do you have a BNYM shirt with TIS name across the back that you wear. I’ve Heard everything now. Being a fan of a CEO that makes tens of millions of dollars a year while continuing to lay people off and give bogus reviews.

Some people are just too gullible

Well, we can debate about pro athletes - I agree they're way overpaid. Respect for him? No way. How about he make amends for the BE that cost me and many others their jobs and careers. I just turned 59 and it's pretty much the end of the line for me.

Yes, I am a Todd fan and also a fan of trying to survive with my family. He deserves a lot more respect for attaining his level in this industry than any pro athlete being paid a fortune for a child’s game. Get some perspective.

You're a Todd fan? I'm a fan of trying to survive with my family. Once baseball comes back I'll be a Mets fan again. He and anyone else at that level in an organization such as this deserve no admiration.

I’m a Todd fan. Sure would like to see him whip the 2 year old well staffed Digital team into gear for some action. Certainly they were directionless and under tasked by B.E. and C.S. Year 3 of digital cannot be another year of no deliverables.

Bny mellons leadership team is nothing but a bunch of scumbags. Zero accountability for anything. They don’t care if anything makes any sense or not, as long as it looks good and gives the impression that it’s good. That’s all that matters. Everything is about them and not the business. No concept whatsoever on how to maximize efficiencies or productivity, or how to grow an organization. No clue about how to properly rate someone based on their actual performance. If something goes wrong then just pass the blame onto someone else then go cry to the government for a bailout. The culture is absolutely disgusting when you think that this is a reflection of the American financial industry. It all just makes me sick.

The jury is still out. We'll see.

Congrats to Charlie Scharf 2.0. Expect more of the same strategy only accelerated by Corona.

No CEO wanna take the spot at BNY, Mr C.S left without sending a single note to employees proves it all. Digital sector is very bad, people with ZERO knowledge in IT are there to make decisions, look at all these LOB heads😀.
1) Dirty Middle management - who wants to work here.
2) No money no honey - BNY is struggling and try save every penny it could.

Don’t give me this who would you name instead Nonsense. Thousands Of employees at this bank could do with the CEO does. And talk about a bunch of garbage, his message out to the employees about “us all being in this together”. Barf. As soon as he can he’ll continue the layoffs and he’ll raking tens of millions- AGAIN.

Give the dude a chance. Decisions are made by the executive committee. Put a cat in the CEO chair and the company does the same. So is rather irrelevant.

As I’ve said in prior threads Todd is basically clipping coupons at BNYM. He was the safety blanket when Charlie was made CEO. He was the obvious choice when Charlie left. Also who else would want to join a sinking ship at this point ?

Given the current business environment, what else was going to happen?????? There was no other choice.

To the prior respondent: Look Mrs. Gibbons, I'm sure he pleases you in many ways to no end, but as far as I am concerned he is part of the problem, not the solution.

You ignored my business-related reasons for why I think this is a good decision. If you’re miserable, then go get a job better suited for you. And if you’re laid off, then I’m sorry to hear, but then his appointment as CEO doesn’t have any bearing on you given that you’re not working at the bank. I hope you find new work as soon as possible.

His humility and family ties are relevant to your grievances in that he knows the area around Pittsburgh and has a positive view of it in his mind. It is good for employees who work in ops in Pittsburgh, who are often the hardest hit with layoffs, to have a CEO with a positive view of operations employees and the places they hail from. There are many Wall Street executives who do not think kindly of the type of people who work in ops in a flyover state.

Many of his positions at BNY over his career have been in some of the less glamorous, “support” type groups. Operations is consistently the least desirable part of financial services to work. His exposure to the less prestigious parts of what we do likely gives him an appreciation for operations, and type of people who do this necessary work.

Will he double your salary or prevent a layoff from ever occurring in the future? Doubtful. These are inevitabilities in ops and tech roles, regardless of bank or industry. I’d be willing to bet, however, that you’re better off with a CEO who is committed to modernization and the partnership agenda we’ve been pushing, while still being cognizant of the lifestyles and experiences of the employees who work in our operations sites. It’s also day one for him, I’d personally like to give him some time to see how he fares. I’m optimistic about him.

Humble? Great decision? Are you delusional or something? How are his family ties and humility helping the rest of us who are miserable or have been laid off?

BNY has never wanted to grow or be better a company. That's why you need to leave. More likely than not a financial crisis is coming from this corona situation and BNY is not strong enough to survive.

I quite like him. He’s a humble man, has family ties to Western PA as he grew up in West Virginia, and has made great management decisions in appointing Roman as head of both Digital and Asset Servicing (therefore streamlining Roman’s efforts to implement the digital strategies he and his Dogital team have developed in the last 18 months) and in putting Akash Shah as head of both Client Management and Corporate Strategy. This allows the right people to have the tools at their disposal to accelerate change. He’s also held every position there is at this bank, and knows operations very well. I’m happy to see how he will move forward, I think this was a great decision.

The brown nosing on the mysource social site is sickening. People falling all over themselves to congratulate him