The scuttlebutt is these are people who were set to be out on Tuesday. Partially mets, all of them. Bonuses were 50% or less. 30 days. Good luck on Tuesday folks!
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These are grandiose speculations. Come Tuesday and when the folks who are let-go can narrate their "true" stories than the "imagined" one and fake ones here we can all know
- What is the severance like
- If the 60-day rule (those who get the PIP package ) is really implemented as speculated.
I believe it will be take the PIP or severance. Speculation from my end.
Old timers,, long tenured folks will (and must) opt for the severance and break away - for the short timers ,, who need the job and 60 day PIP is a gamble than taking the 12 week (or less ?) severance until K grade. Sometimes we are hopeful that we can retain the job than be in this lousy market. Landing a job in 12 weeks is really difficult now.
I will take the 12 week and run (3 year tenure) than take the PIP if offered.
We will all know that by Tuesday. Until then none of the posts here is providing any value
If they lay you off normally, then the old SUB, now Severance applies (note, they have yet to release the policy other than a two page teaser that was buried in a W-2 email.
HOWEVER, if they knock you down for performance, then they only owe you 30 days, rumors say maybe 60.
Some people they knocked down on performance even though they were top performers, and now are trying to cheat them of the severance with a bogus performance rating. seeing it myself first hand with others.
It’s obvious that Robber V. And his henchmen are scraping the barrel to pay for Carol W’s innovative 7 figure salary. Anyone notice that Carol bears a strong resemblence to the S. D. Kluger cartoon character from ‘Santa Claus is comin’ to town’ ?
@d5+1jm3fbtay
There is no ‘sub’ pay any more. The company now issues severance pay as of Feb. 1. And the amount of severance still goes 2 weeks per each year of service maxing out at 1 year total. These people who are getting the 30 days are being unfairly scre-wed as below level performers and we all know 95% of them are not below standard.
I thought the sub pay is based on years in the company. 2 weeks per 1 year.
Are you saying everyone will get the sub pay only 30 or 60 days even though you are with company for 20 years?
The cowards that made the decision to terminate with 30 or 60 days pay are hiding behind the line managers. I feel bad for the staff but also the managers that have to deliver the messaging on Tuesday. It’s not good for anyone’s mental or physical health but BNY only cares about boosting their bottom line by any means necessary. We are a horrible company.
has anyone laid off been given the full new severance benefit posted?
BNY really scamming people?
30 days instead of the severance they earned/ deserved is such BS.
If they got partially meets then mgmt chose to release vs put them on a development plan or mgmt was given a head count reduction which is also happening and since they had performance issues they were selected. Partials dont mean termination necessarily