Thread regarding Bank of New York Mellon Corp. layoffs

@kedw, Syracuse was toast before Robin even left GS. Your hero Todd is the one who closed it after it was decimated by CEO's who don't remember 9/11 and Hurricane Sandy. Or, they're just more interested in short term profits rather than minimizing risk and having our pick of a diverse workforce.

@jkao

Truer words were never spoken:

“Nope. Todd displaced no one in his two years as CEO.”.

@kedw

I agree… Robin is the anti-Todd. We are already missing him terribly. His wise, thoughtful and skillful leadership was a blessing to the Bank while we had him but unfortunately he was the last of a kind here.

I hope to speak with him soon and get his thoughts on his legacy.

@ktro

Well, have you ever heard of our current CEO Robin?

He’s the anti-Todd.

@jkao, then how come we have 800 workers in East Syracuse when Todd became CEO and now we have zero?

@1prf

Nope. They were all before or after Todd.

Todd displaced no one in his two years as CEO.

Fortunately a very small layoff indeed.

Apparently Robin has learned something from his predecessor, Todd Gibbons, and is attempting to be less draconian. Personally I’m hoping that employees band together in a “Draft Todd for C.E.O” movement.

Todd proved hat we don’t need layoffs and we don’t need Robin.

@OP

“For how long are we safe?”

The good news is that this appears to have been a relatively small layoff. It’s nothing like the 2000-2010 era of 10% per year laid off and the massive offshoring of jobs. This one has the feel of a small careful pruning.

Could it be that the Bank has finally found a balance between contractors, H-1B employees and permanent workers? Most likely we are now right sized and that’s a good thing for all of us.

The next era is going to focus even harder on benefits reductions.

March, July, September, December

We’ve finally had our first real layoff since Scharf’s August massacre 4 1/2 years ago. It was a long welcome break thanks to Todd, and we miss him and his leadership every day.

Unfortunately this heralds a new era of layoffs as well as some devilish benefits cuts. It really is time to leave.

Next layoffs are March. Supposedly all business, no technology.

@1jtk

Just keep trying to scare us older people.

We’re all praying to be laid off.

There are more in Q1. I was in a meeting where a manager spoke about it not realizing everyone was not in the loop. Contractors + more . I thought we were done for now. Guess not.

Next round of layoffs is in March. You should not chill. The lowest performers aren't the the ones laid off. The older ones, earning decent money are the ones laid off, to be replaced with a younger person making half the pay. Good luck to you. No knows how the products work and it takes nearly 2 years to figure out what's going on.

Tech has had layoffs every year for the last few years. I heard the next rounds will be in March and May.

February

Generally we are living in a very low layoff environment and it was a no layoff environment under Todd. People here seem to have PTSD from layoffs but it’s been 4 1/2 years since we’ve had a major layoff. People chill…

It’s much healthier to worry about real issues here. If you want to obsess on a real issue for a change make a list of our endless benefits cuts and maybe look into a spouse carrying benefits, etc.

But endlessly fixating on virtually nonexistent layoffs is twisting your brains into pretzels.

We're never safe...

If this round is even over yet, that is.