I work in the Piccadilly Gardens office and have been made redundant. Basically they asked management to select people to let go, then worked with HR to put things in place to ensure it was done in a 'legal' fashion. In my case my end of year review was changed at the 11th hour and I was moved from having had a solid year to under performing in all areas. They then used that as their leverage to justify my redundancy. What's worse is their decision is based on the feedback of one individual, who provided no one to ones all year and provided no support or guidance until the week before Christmas. However even then it was only so that he could comment that he had to 'step in' to save the day. My mid year was on track with no concerns raised all year.
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Well I was terminated a couple of weeks ago and I'm finding it possible to secure a job now. There's almost nothing out there and what I do apply for I just get rejection emails. Safe to say BNYM have literally ruined my life.
Isn't it curious that two of the top stockholders at BNY Mellon, SsGA, and Berkshire Hathaway are potentially competition driving BNY Mellon to ruin? It doesn't even seem reasonable that this is legal.
Thanks for sharing, I would not mind to be impacted. Working conditions the last 3 years have been very toxic: no support/arrogance from management, every year multiple layoff cycles, every week emails about mental health but pushing a workload that is too high...
Hi, when I was offered redundancy when the Leeds office closed it was 2 weeks pay per year's service + statutory pay. You had to sign a non-disclosure agreement to get this and you could claim £500 for solicitor fees. Hope this helps. I presume it would be the same now since this was only 2 years ago.
AMA = Ask Me Anything
They are offering 2 weeks salary for every year completed, with the minimum being 6 weeks pay. To get it you have to sign a settlement agreement which prohibits you from taking legal action against them and prohibits you from working for them for 6 months. You need a lawyer to complete the agreement and bnym will contribute £500 towards this.
They will also let you cash in unused holidays. You are still entitled to your bonus if you were going to get one originally.
Apologies I can't share my length of service or department as I don't want to be identified.
I have no intention of staying. The company is completely toxic from the top levels of management all the way to the bottom. It seems they breed a mentality of stand on top of others to get ahead yourself. It's not something I'm comfortable with.
Sorry that happened to you. They have a criteria and if you fit it then it's your time to go regardless of what your PMP might say. Seems like no one is safe.
What were you offered as part of your redundancy package? I understand you wanted to stay but many of us want out. It's just a toxic place.
Would you mind explaining what department that you work in?
I am also based in OPG. Can you advise what you were offered as part of your redundancy package? How many weeks pay per year? How long have you worked at the Bank?
AMA??
I always thought a person would be safe as long as the ongoing feedback throughout the year, including the midyear review, was positive. I guess that's not the case.
It doesn't matter what your review was unless you were grossly insubordinate which might affect your unemployment. They can fire their best employee if they want.
Get a lawyer. As part of your redundancy process you must hire a lawyer to review the reasons for your selection and package. This is law in the UK..and the bank must pay/contribute to your legal bills.