Just listened to Robin shilling on CNBC from Davos. The company has kindly put this on the website. In the interview, he discusses the necessity of layoffs given the expenses increase the last two years, where layoffs were resisted because of the pandemic. Given the need to cut expenses, was a contingent of BNY Mellon staff (Robin, Roman, Akash, and Jayee, at the very least) really the best use of company funds seeing we are trying to cut expenses?
He goes on to gush about the new plan to “give” all staff shares, to make sure we are all “owners of the company.” What he neglects to mention is that this “gift” is taken from the annual bonus, and is deferred. So, instead of receiving a cash payment to reward my hard work from the previous year, you’ve now deferred my compensation, and I lose if if I leave the company. You’ve also stopped matching my 401k benefits per pay period, further minimizing my compensation. Yeah, thanks a lot Robin.
If mandating compensation in shares was suppose to incentivize me to “act like an owner of the company,” it’s only had the opposite effect. This, and your other shenanigans, has only made me want to find another job, which is perhaps your intention all along.