In Corp Engineering, there is a new trend instituted by guys from GS. Give bad ratings to older employees and use that as a basis for termination. Now it is no longer a layoff! It is termination due to poor performance. One of my collegues worked for 35 years and was let go. This was the first time she was given a bad rating - all of us i.e co-workers were told that she will be gone, so take over. This is really nasty and borders on criminality - Finance Engineering from GS is deserves a spot in he-l
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NO IDEA how I’m still here if this is so
Every employee should save all of performance-related documentation.
If you have years of positive reviews, you will have legal leverage and they typically will settle rather than fight it.
Obviously Robin, legal and HR have gone over this with no holds barred. They are of the opinion that the policy by and for BNY management (not the employees) can withstand anything since they are an at will employer. What a sl--e pit this has become. All about share price not doing a good job or doing the right thing. Karma please come true
@ax+1jrwpd92t please consider consulting a few attorneys before signing anything.
This was done to me as well by the same GS guy from Finance Engineering. I was rated Exceed 4 of the 5 prior years then he sc--wed me over.
@at+1jrwpd92t I’m sorry it happened to you too. Check out some of the other threads on here, there’s helpful info from others who have been through the same thing.
It is company wide. 20% have to be rated Partial/Below. In the past those rated Below were still given severance. Rockin’ Robin et al, decided “why pay severance to low performers?” Hence the change in the severance policy. Anyone let go is not eligible for severance if their previous rating was anything other than Meets or above. Even if you survive the PIP, you are still not eligible due to your prior rating. It is not clear if being On Track at mid year will save you. I have also seen very good managers very recently subjected to this. I for one do not feel the need to fight and claw to keep my job. It is not worth the stress.
This happened to me. I was just terminated yesterday
It sounds like others are exploring legal options
Someone else recently posted about this too
https://www.thelayoff.com/post/@OP+1jr8tqmq5
Not just in Engineering…happening in Investments too……. Why would anyone ever want to work here….. morale is rock bottom