Thread regarding Bank of New York Mellon Corp. layoffs

Get rid of those close to the top

I hop many overpaid and do-nothing executive managers, senior group managers, and managing directors get fired and their big $$$$ salaries partially saved and partially used to properly compensate and retain real hardworking employees. This would be more financially effective than saving peanuts $ by laying off hardworking US employees and outsourcing their jobs to Chennai and Pune. look up on mysource how many do-nothing “executive managers” and “senior group managers” are Based at Home doing close to nothing, perhaps except for posting and reacting on LinkedIn during work hours, while low paid and hourly employees are forced to RTO. Not sure if executive managers who aren’t classified as based at home are ever tracked to see how often they go to office when the are not traveling the US and the globe on the company’s dime! Aren’t we sick and tired of seeing executive managers posting pictures on mysource and LinkedIn about their useless and wasteful visits within the US and to UK, India, ….? They should start using Teams for video meetings just like the rest of us, instead of taking vacations disguised as bank business!

@odb+1iODPW1c makes a great point!

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| 76494 views | | 7 replies (last October 5, 2022) | Reply
Post ID: @OP+1iRIZP7p

7 replies (most recent on top)

I learned a lot about Robin's European tour from LinkedIn.

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Post ID: @cyqp+1iRIZP7p

@OP IHOPs is a great idea! Distracts the managers so they do less harm.

I like your thinking.

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Post ID: @cdlo+1iRIZP7p

Most BNYM leaders who use buzzwords like “agile” have no idea what those words mean in a practical sense. Therefore you get a$$ backwards implementations. Just because a higher up says it’s agile doesn’t make it so.

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Post ID: @7yae+1iRIZP7p

Heard they actually got rid of a bunch of PM's in the last week. I know a couple that got tossed deservedly as they had inflated salaries and no real contributions

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Post ID: @6vhz+1iRIZP7p

When project managers first outnumbered SMEs long ago it was clear that we were dysfunctional. Worse, our “Agile” implementation has made the bloat worse every year. We have more leaders than doers. PMs burn months asking SMEs what to do, and then tell them to do it and measure it… how dysfunctional! Cut 2/3 of PMs and get more done.. So many projects have more leads than doers. If we cut PMs by 2/3 we would be really efficient.

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Post ID: @6igy+1iRIZP7p

There are very real cost savings in outsourcing jobs to Chennai, Pune, Poland and elsewhere. If it helps the Bank’s numbers it helps all of us.

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Post ID: @4gmh+1iRIZP7p

How many unnecessary project managers do we have? They can’t cut it as supervisors of 30 so they make them project managers of 3 and they do nothing but change the way we do things on a see saw level. Back and forth…

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Post ID: @4gtw+1iRIZP7p

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