People are already talking about the target groups for the January layoffs. No one ever knows for sure who will be the target, but what I have noticed during the last rounds of layoffs is that the targets are always some of the best people. Of course, the target might also become someone who did not live up to expectations, but I would say that they prefer to cut the best. Maybe this is in line with the general impression that BNY Mellon doesn’t need the best people, but only the average ones?
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Never assume.
In recent years, those 'best' people were able to negotiate to be laid off because they are close to retirement and were able to get a years SUB pay (one week for every 2 years of service up to a year SUB (like severance, but handled differently by the IRS and is really like supplemental unemployment, thus the name: SUB).
True, they are likely expensive and so letting them go, everyone wins, but they could also lay people off outride as they did in recent recessions, and not let people volunteer to be cut.
Some of them were close to retiring on their own anyway, so financially, it's a poor decision by the company, but kudos to those managers that were able to take care of their valued employees and secure for them up to a years SUB/severance.
Akash does that because talented people threaten him.
It’s because the best people are getting paid more…obviously
It is all about costs. BNY Mellon would prefer to get by on cheaper labor, which often means average, less experienced employees.
The more you give to the company the worse you will be treated in the way out.