This seems like a clear move to lay off more people especially at the VP level
12 replies (most recent on top)
Sorry folks, but the truth is that BNY’s So-called SVP (level ‘L’ ) is a junior person. Only the S and T (MD) have something of a seniority’. Now L’s are about to be most sc--wed by this.
This company keeps sc--wing everyone, it's never going to stop!
@e1 layoffs. Whoever is on the PIP Aug 18th is their last day.
@dy what happens August 18??
@de @de+1k2327r8k
Blah blah blah… it just means that no matter how much icing and candles you put on it, a t-urd is still a t-urd.
August 18th is all that matters now- for the lucky ones
I wonder which consulting firm and how much it was paid to come up with this title strategy? I assume this was not the result of Peakon Survey comment.
Post ID: @a9+1k2327r8k
It means that job grade Ks have greater responsibility based on the way career path was handled. Many of whom have to manage.
It means that people in job grade J who have less responsibility are now on the same level but not held to the same goals or targets such as KPIs.
It means job grade Js can now jump to SVP when other people have had to be in their grade K for many years.
In the end, those in grade K will now jump to an individual contributor role (former grade J) for an easier job because there’s nothing to gain for job grade K especially those having to deal with the stress of managing teams.
Make no mistake… Any changes made within the bank is not for the benefit of the employee-
@a9 it removes the opportunity for promotion for a lot of staff. Now all J and K are just VPs. No promotion within the VO grades means less wage uplifts and more money for shareholders! Yay!
How do you find out what letter you are?
I don’t follow. J and K were VP anyway. What does consolidating then even do?
Ofc it's done to lay of VPS, you'd have to be insane to believe it's for the benefit of career opportunities