Thread regarding Bank of New York Mellon Corp. layoffs

@5bkq Is it common for BNY to extend contracts to 12 months or beyond, I was contacted about a 6 month contract by BNY, rate is good and wondering if they stick to the initial contract period or is it quite common for 6 month contracts to extend to a year.

Is it common for BNY to extend contracts to 12 months or beyond, I was contacted about a 6 month contract by BNY, rate is good and wondering if they stick to the initial contract period or is it quite common for 6 month contracts to extend to a year.

@5bjy
After you have finished a 12 month contract, there is a 3 month waiting period before you can come back.

Can you come back for another contracting role after completing a 12 month contract there?

For contractors like Wipro and TCS at this place, they may be good at renovating my kitchen but can't program or conduct a project without it being a fiasco.

@6bte+1gGMc6wv

Been there, done that. That’s an amusing glimpse into the always chaotic worlds of anything that even peripherally involves our HR.

You are much better off being out.

I accepted a temp-perm role in 2019 in IT. I was initially given a six month contract and agency and hiring manager both said it was a good chance I'd be hired on FT. Six months came and I didn't know about my status..talk about nerve wracking. Finally my manager admitting they forgot to file my extension as all hiring was put on a hold, apparently. But they liked me and still planned to bring me on FT. So a three month extension was approved. One month into this my hiring manager left the bank and then my team had a turnstile of three managers. Talk about chaotic. I had two more three-month extensions. Each extensions I was promised a FT position and "it would happen soon" or "It was on the horizon but just can't right now". While all this happened I was looking elsewhere for a FT job.

When I finally landed the FT job outside of BNY in May 2020 I put my notice in with my manager. Two hours later I get on a Teams call with them and they said when they told their manager (the Director) of my notice, the Director wanted my manager to ask me if I would accept being brought on FT now. I was speechless and and then laughed and mentioned that three weeks before I was told "it was on the horizon but just can't right now" so what changed? My manager didn't know, so I said turned down the offer. Then my manager asked "Nothing we can do to change your mind" and I said "well its too late now". and I left two weeks later

Each job situation is different for contractors. Some contractors are temp-to-perm, others are temp-to-temp.

From how I understand BNY contractor positions... you can only be in a contract role for a maximum of 12 months. At 12 months your department either hires you or lets you go.

Typically when you are hired as a contractor, you will know upfront whether you have a temp-to-perm or a temp-to-temp opportunity.

"Some" temp-to-perm opportunities may be 6-9 months in duration before a staff position will be extended.

If you are placed within BNY through a staffing agency for a temp-to-temp position with a limited time duration (4-6 months), you will be at the whims of the department and temp agency.

EXAMPLE: Lets say you agree to a 4-month temp position and you complete the agreement and the department wants to an additional 4-months... but lets say you also know the department will not convert you into permanent position. What to do?

Lets say you don't agree to the extension (after the temp agency tries to strong arm you into accepting the 4-month extension)... the agency will more than likely drop you from their roster. The agency may work with you in the future, but you will have some down time.

Just remember the departments needs or "happiness" come first. You may have a "representative" at your agency saying they are your employment ally, but really they want to keep the bank happy. If you are in a poor fit of a position, or want to see other opportunities after you complete the original agreement... no one really cares if there's a pending extension offer for you to stay where you are.

Some departments have a high turnover of contractors. These departments are set-up that way. Instead of having full-time staff for generic "processing" or "data entry" jobs, they will rotate contractors through every 6-12 months to reduce department costs.

if you want to work here, I would accept a FT position when it is offered. Remember you already have experience so TRY to negotiate higher pay. mgmt likes to cut contractors before laying off FT. less messy and no severance

contractors have a 1 year contract to start so if you have the stomach for that incase they dont extend you.