Under “Looking Ahead to 2023”:
“We are reducing a small percentage of roles in order to redeploy savings into investment areas and to fuel development opportunities for employees.” I read that as “you’ll be taking on more work since we’re laying off your colleagues.”
10 replies (most recent on top)
Well the clueless Bony bought Mellon, the crown jewel of custody, laid off the brains starting in 2008 and kept the fools in NY and dragged us back 20 years. For a long time the higher you looked up the chain, the less education, knowledge and career achievements you find. That’s how the brain drain in Pittsburgh started…
Just dont go woke otherwise you go broke.
@suy usually execs or subjects of articles get a heads up before news hits because the journos will reach out for comment
Laying off 1500 yet the bank has 2800 job openings posted ...
Clearly Robin got a heads up about the WSJ article.
- 5 billion is still a lot of money…
If you read the earnings release, BNY is in poor shape. The CEO mentions the "adjusted revenue" and "adjusted income" numbers - since there are notable items they want to exclude. It's hard to find what those notable items are that they want to exclude.
Bottom line - 2021 net income was $3.7 billion.
2022 net income is $2.5 billion.
our profits are down $1.2 billion. that is very bad.
Efficiency efficiency efficiency
Expenses expenses expenses
Resilience resiliency resilience
Ownership ownership ownership
🤮🤮🤮🤮
🚜🚜🚜🚜
Investment areas = executives comp package
What a lying ignorant arrogant sack of sh*t.