This whole layoffs thing is making me want to quit on my own. I'm old enough and I've been here long enough to remember the time when this place had job security. Heaving to live constantly with the stress of potential layoffs is not healthy for any of us. Things have changed so much in the past decade...
5 replies (most recent on top)
Out of the dozen people I know who were let go in the last 4 or 5 years, NONE were BE. ZERO. In fact, most of them I would hire for my personal business in a heartbeat if I needed someone with their skillset.
Before that, every person I know who were let go were BE or likely BE.
@rth+1cnDLdkI We’ll put. Exactly how it went on my team. It’s such a tragedy for such a historically significant place, to be conducting business as they do for their clients and their employees. It’s really quite sad. At this point it would be an overwhelming effort to turn the loss of trust from the employee side around. Most clients are stuck with their decision and the poor quality as the effort to change their custodian is tremendous and a costly effort. Best wishes to those most recently let go. Hopefully in the end it will have been a good outcome for you albeit tragic and traumatic experience in many ways. Hopefully the trauma can turn to healing.
The forced rankings make the problem worse at BNY than other places.
As a manager I witnessed the demands from above to constantly find people who needed to be on the next list… whether the BE list (step one… and make no mistake, once you are ranked Below, you are done for) or the list for the next round of layoffs (step two).
Compounding matters, as our staff got smaller, people were being set up to fail and when a client wasn’t happy with the level of service, which was usually a reflection of the fact that our people were too stretched and/or junior people were saddled with too much responsibility, no one questioned why these people were failing. They just went on the list for the next round. I finally couldn’t take it anymore and quit.
It's the state of the world we're in now.
I remember at another bank, my manager was saying he missed the time when people stayed on jobs for as long as they wanted and left on their own.
Honestly, I doubt you'll go anywhere these days without seeing layoffs.
Someone I once worked with put it best. Noticing how some of us were fed up with our BNYM jobs, she said,”When you get sick of getting sick about it, you’ll do something.” Hope you find the job you want outside of BNY Mellon.