Thread regarding Bank of New York Mellon Corp. layoffs

@5iha+153hUTKF Wow! While I’m still here, I’d love to join your group! It sounds like a far more enjoyable world.

Yes, kids and pets and other interruptions happens and it is ok. That’s why happens when everyone is at home. I am sad to see that no one here has supportive managers. Not the case where I am.

@2jzr+153hUTKF News alert. That excuse has been played out and doesn't even hold truth. We see what management does and it's barely one job, let alone two jobs for which you all try taking credit. Also, it hasn't been management that's been laid off, but we hope Todd will make good on that long overdue promise and see it come to fruition in 2021.

We are all critical of our managers. They neglect us and we think we could do a better job. Then we get the “opportunity” to manage, and find out it’s nothing that we thought.

Management at BNY is directed to carry out policies and quotas from above, and then ask for upward feedback from “below”. Talk about a thankless job. Even when those policies conflict with the abundance of management courses that we are required to take. Even when we push back.

And we get to do that while retaining our former job, which we were really good at so got a change at management too. Peter Principle for sure.

Eventually someone doesn’t like you and you are let go. Or eventually you cannot stand it any more, and quit. Little has anything to do with our concept of true management.

You know that because you’ve seen it all.

Spot on! Peter Principle is In place a lot here it seems like!...so if managers aren’t effective...what is their use?

Hey, that was my former manager to a T.
Was the poorest one I had the misfortune to report to. No engagement, except when I breathed the wrong way. We both got our wish in the end. I got laid off, and the former manager had the convenient cover. Said manager is still there, while I have moved on looking forward to my next adventure elsewhere in a new field.

News Alert. Many managers inherited that job and kept their old job too, and were told to only spend 10 to 20% of their time on any management tasks. That includes management required training and administration, leaving little time for personal interaction with their direct reports. Some didn’t even get a manager title because in case you didn’t hear, mid-managers were a main target of layoffs during the past few years. Flattening the organization, they called it. But workers still expect some TLC from their managers, and become very disappointed with what they are not getting. Add to that the requirement to have 10+ direct reports, so some managers are not even knowledgeable about the jobs done by their people. Hopefully the recent changes in upper management will help remedy this situation that has never worked for these “managers” or their teams.

From Goldman to BNY? Talk about moving from the penthouse to the outhouse.

So many managers with NO knowledge of anything. Many jobs posted for us though. Any no revenue generator jobs should go. So many positions that have no value add. Why so many directors? Tech has so many sh1t people no risk managers it was way better at goldman what a mistake I made here. Todd needs to go, too old. Need a progressive person who wants to make changes that get rid of any bulls1t positions. Biggest joke is the tech risk team. We have the worst people working for them. Ever had one of there bilullc-ap meetings? Allc-ap ex chase people why did they leave chase and come here. Why because chase thought they were c-ap. My friend was let go all they did was the right thing. If you want to survive here shut up and collect. If you are smart you wouldn't have joined. Wells is hiring if you want id–t charlie as your role model go there. Watch him f0ck that place up too. I just found out we have MRAs for sh1t risk. What's that about?

@1asj+153hUTKF It's called the Peter Principle. A person in an organization will rise past the level of their expertise to the level of their incompetence, where they get stuck.

This is funny, my manager posted cash to our accounts and the amounts would be off by millions. She used to say "It's just best practices." WTF? She also helped in forging documents so PWC couldn't find out about some possible clerical errors. I received EE 5 years in a row in that group. Guess who got laid off? Me.

be now the managers in asset servicing technology guys useless are they

My manager f’d up AGAIN today and as a result costing time and $ for several days of rework and then he asks how long to redo. He of course doesn’t like the answer and declares it needs to be done sooner. He creates SO many headaches for so many teams & groups. It makes no sense to me how he got to be where he is. He is infuriatingly incompetent.

Managers at BNYM have never really been necessary, except to be the ones to lay people off and assign them BE ratings. Mine is way in over his head - he doesn't know how to do many of the basic, required risk, control, finance and HR tasks. What a useless waste of corporate assets!

Speaking of dogs, I wish he would lift his leg on some of our management (virtually of course).

@Busy Manager:

1. If you meet with your staff daily on video, you are clearly not in the area of the company I work for. I know of not one person who does this. I’m glad you do that, perhaps your area is different. What do you do if dogs or kids hone in on your meeting time? How do you handle it? Do you sternly tell the person/people to go to another room and close the door and mute the phone as my PO or scrum does on the phone. On video you can’t necessarily get away as easily when that happens.

2 - 5. Do you really do this? Isn’t that the job of a scrum master, project manager or product owner, client relations person and someone from finance? Is your job really necessary or is it a little redundant to those who actually do the work?

Again, you sound like you are in a different area of the company than I am, so perhaps you do have a little more relevance.

Busy Manager, yes, please tell us more about your productivity (SIGH)

Agree with OP. Todd should look into trimming headcount in 2021 by eliminating many of the level L and M managers.

1). Meet with their staff on video daily
2). Manage and oversee all projects
3). Track revenue trends
4). Manage client expectations
5). Manage tech resources
6). Work on keeping morale up

Shall I continue??