For the locations that are reducing in size…. Are you getting a new office?
I heard in Edinburgh they are getting a new office, which is basically in a WeWork and has something like a 18 month lease.
@f4+1jrez6v7k Not necessarily. Quite a few teams expected to move to Manchester where there is zero knowledge and staff being made redundant being the ones to train.
Zero trustee and depositary knowledge in Manchester, so unlikely
Most of the Edinburgh office is moving to Manchester, UK. I suspect an 18 month short term let will enable the remainder (Trustee and Depositary) to move to Manchester once the new building opens in Q3 2026.
If your site is not one of the growth centers, it is being looked at for possible closure. They are looking to cut costs any way possible. Closing sites and forcing people to relocate or lose their job without severance is part of the BNY playbook.
@dc+1jrez6v7k I thought I heard the new building in Pune is leased not owned and Those I work with in Pune seemed to have been hit hard by layoffs recently too. If this is true I wonder if they’ll be feeling the impacts of AI too. Hope so since our footprint shrunk tons to offshoring. Hope they feel what they did to us too.
In Wilmington DE we went from 2 full buildings BNY owned plus a floor of another building they rented to 1 building that looks full from the parking lot, but somehow there’s never anyone inside. My floor is empty. I have no idea where everyone is hiding! Plus BNY has us in the older cr-ppy building of the two since they’re trying to sell them and lease back one. They claim they’ve invested in the building by making improvements. They actually put a new BNY sign on the building and we got new sink faucets that still don’t work and they changed some storage rooms into lunch break rooms wow!!! #insertsarcasticsnark
Keeping people around short term because they need people to do the work while they figure out replacement strategy. Pune has a nice, brand new office because the Bank is committed long-term to the location. If they were committed, you wouldn’t be put up in some temporary and shoddy We-Work office.
Boston isn’t a growth location but we have been told they will be renovating the office. Seems a-s backwards.
I heard that in most cases, if you do not relocate to a growth location, you are essentially quitting your job.
Well, it had to happen sometime… Robin is even coming up with ways to eliminate free coffee. WeWork- you are on your way out and no coffee for you!
Shame