Thread regarding Bank of New York Mellon Corp. layoffs

Let’s try some common sense.

If we actually had a business model beyond continuing to do exactly the same things that we’ve been doing without change for 15 years, then wouldn’t leadership reveal and communicate it?

If leadership cannot or does not lead then shouldn’t we be cutting jobs at the top? There are phenomenal savings in cutting at the top and no downside.

Bnym business plan

Execs reap all the rewards & leave after a few years. The rest are hamsters on the wheel fighting for a crumb.

@iljk Well obviously you should be checking the Income statement for that information.

University of Phoenix grad?

That’s not fair… at least we have an idea for a business plan. WOW points for anyone who can find the Organic Growth powerpoint on MySource!

Keep paying Buffet 3.35% yield and employees sub 2% raises. I have checked the balance sheet they actually dont spend money on hiring the right people or real growth initiatives.
So if somehow they are expecting a miracle that would benefit only our bank and the asset servicing fees go from below 1% to 10% - we all win!. Keep praying for a miracle.!

We have a business model? Hahahaha

It is true that all senior leadership is extracting all of the compensation that they can before we are sliced up as a “parts bank” for Fintechs. There is no management strategy, no growth plan and no real interest in seeking out plans to get the Bank back on track.

24 years with a virtually unchanged stock price. Considering that the dollar is worth about half of what it was worth 24 years ago, our lack of management talent has cost us half of our valuation after factoring in inflation.

What does this all mean? No competent CEO or ExCO for the last quarter century.

BNYMellon business model simple. Keeping the top fat with Goldman Sachs and JPMorgan castoffs. Fleece the worker bees. Repeat every 5 years. 🤪

No worries… I predict that we are going to go on a massive 20 year year run of horizontal stock performance. We’ve proven that we can and only the naysayers don’t believe that we can do it again.

So you couldn't see it coming?

https://www.highereducationinquirer.org/2020/05/lets-all-pretend-we-couldnt-see-it.html

Asset Servicing is in a bad spot. We aren’t seeing a spike in NIR from increased interest rates and RR is blowing the budget on failed initiatives. Our only option is to raise fees significantly but the market still considers us a low cost provider. And operations has been gutted to the extreme. One bad service issue is enough to make a client walk or at least go to RFP