Thread regarding Bank of New York Mellon Corp. layoffs

Robin won't layoff anyone on 9/11. Even he has the decency to wait until 9/12.

9/11 Layoffs… and they say that Robin has no sense of humor.

So we all agreed on the ironic 9/11 week for the axes to fall?

@7ygp+1ogOHKNj

Who knew that the GenX Slackers would eventually become the wealthiest generation?

Luck of the draw to them.

@pgc

I don’t think anyone has called Gen X slackers since the 90/91 recession.

If anything, Gen X is picking up the slack from ready to retire boomers and millennials/zoomers with high work life balance requirements.

@6pgc
Ok, boomer. Now get off my lawn!

@6csd

That also makes a lot of sense. GenX set the standard as the weakest generation in terms of work ethic. It’s where we got the term “Slacker”. Millennials seem to need constant reassurance and encouragement to do the simplest things. Not really sure how they’ll survive as adults.

@5asb, my perceptions are based on the OWPBA documents I've seen from friends who have been fired. It's mostly genX and millennials who are fired and very few zoomers or boomers. Of course that makes sense because most BK employees are middle aged. So the confused ones are you, @4ocq and @2dvt

I heard week of 9/11. Anyone else?

@4rds

Not sure how you’re getting that perception from @4rds. Zoomers didn’t have all that great of an educational system though so we can cut you some slack on whatever it is that’s confusing you.

It’s not management who is scaring employees. Quite the opposite, it’s this board. We’ve been in a low layoff environment by any standard for quite a while… at least ever since Charlie left. There have been exactly two 1% layoffs since Charlie left.

It really doesn’t get much better than that for job security. Anyone who is productive is safe. We didn’t experience employees with this fragility during the 2000 - 2008 era of 10% layoffs per year, every year no exceptions.

@4ocq / @2dvt are being fired because of their work ethic??? I don't know a single zoomer who has been fired. Everyone I know who was canned the last 7 years have been older workers who were productive, dedicated and very competent.

@2ona

Please reread a few times and think through the last few messages. Reading comprehension can be your best friend or your worse enemy. A little logic would be a nice addition as well.

So many confused University of Phoenix Associates people here that it’s hard to understand their mental gaps… they’re just so uninformed.

Let’s make it simple. Our Bank’s ratios are out of whack… we’re paying far more money for the same things that our competitors pay far less to achieve. Most of the issue is that Roman Regelman’s various digital efforts utterly failed to deliver any automation.

All Digital initiatives have utterly failed.

So we are now made up of 80% clerica Operations staff fighting trying to compete with 32 year old BONY systems. All that we can do to even attempt to compete is to pay people as little as we can. Once you understand that you need to determine whether you are a lifer or you have enough talent and confidence to start a job search.

@2ona

It has. We’ve had three 1% layoffs this year. Recall that we also add employees in India and Europe. You people are just so linear.

Here is the big picture: anytime that a job cab be done equally well and/or cheaper elsewhere that job is moving. We want to cut costs, not necessarily employees. That’s why India is in growth mode

This place is toxic...Full stop..So glad I got out. Sane leaders, more money, remote work...BYE

@3dyz, if the 2 aisle you're talking about are 8,366 mi away, then you'd be correct.
But it still doesn't support @2dvt saying jobs are eliminated.

@2lpy

Your aisle doesn’t reflect anything about Charlie and his cuts. Two aisles away Charlie was likely adding staff. It’s called managing resources.

@2dvt, then why hasn't the number of employees gone down?

Offshoring started on the Mellon side right after Y2K, as did displacements with a package. From 2000 to 2008 we displaced 10% per year, no exceptions. Charlie was a pi--r compared to that era. Layoffs don’t always mean offshoring although the dimwits always associate them as linked.

A better, more accurate way of looking at it is that we’re moving towards an environment where all jobs must be justified and provide more value than than they cost the bank. Those who don’t provide positive value are eliminated. The horrible GenZ work ethic, educational issues and pay expectations all combine to force the Bank to move Operations jobs offshore.

Right now that means India and I don’t see that changing until GenZ is forced by life to somehow find a work ethic.

@1ygd, it's funny that my department went from 30/70 offshore to onshore to 70/30 under Charlie. And he is the typical liberal where he pushes id--tic policies such as forcing companies to provide paid menstrual leave, paid family leave, outrageous minimum wages, advertised pay ranges, forced se-ual harassments training, forced diversity training, then he offshores his labor because it's too expensive in NY.

@hie

All banks are top heavy. It’s sad but true.

That’s good, I’d just love to be displaced after Labor Day. I just can’t think of a more rewarding gift for my decades of service!

So. I’m told the 4 days in office is not across the bank - Not bank wide. So maybe it’s certain LOBs? Or I am being lied to?

I guess we’ll see

The EC is getting larger, not smaller. Don’t believe me? Look it up on MySource. And remember that one of those is equal to many many workers.

@ino, but they love to push diversity! Remember a couple years ago when one of the clowns joined our town hall? It was almost as embarrassing as Chennai Charlie saying that people saying all lives matter is like saying all cancers matter. Or the story he shared about going to the black meeting to hear stories about people introducing their kids to the cops when they moved to a white neighborhood.

How about cutting some of the EC?

Zero loss of productivity and, let’s face it, not a strategic genius among them.

After so many layoffs, I forgot all the faces of my ex coworkers. It is just too many names to remember.

Meanwhile, they’re still hiring employees that are based at home.

I don’t think they could fit everyone 4 days a week on my floor. We are now all “ hotelling “ due to lack of desks

Don’t know the count but it’s the after Labor Day and we will also be required to come in more days a week. Sites will no longer be able to use the excuse “not enough space”. Get ready for four days a week and you must work at least 6 hours in the office.
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Can you give some add’l context - where you heard this, without giving yourself away, etc

I’m asking cause I keep hearing this rumor of 4 days in office but anytime I question it they act like I’m crazy & there is no plan. Also, I heard 4 hours in office minimum? But that’s rumor - not from management.

Don’t know the count but it’s the after Labor Day and we will also be required to come in more days a week. Sites will no longer be able to use the excuse “not enough space”. Get ready for four days a week and you must work at least 6 hours in the office.

Always scaring their employees. What a terrible company this has become.

First week after Labor Day