Thread regarding Bank of New York Mellon Corp. layoffs

BNY = State Street

The only reason BNY won't allow voluntary resignations to get SUB payments is because State Street tried that years ago and had way too many volunteers. Both bloated custody banks that are slowly dying. At least State Street at one point raised some money for ETFs. Digital world doesn't need employees to calculate NAVs.

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| 4652 views | | 1 reply (January 17, 2023) | Reply
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Well, to be more specific, State Street discovered what employers always do in those situations: those who are quick to raise their hands for package tend to be the best/most employable of their people.

Why would any employer want to hand out incentives for their employees to move on?

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