Robin invited McKinsey in to redesign the way the bank works. He and Dermot are sitting back and watching how the chips fall. No care at all for the careers they destroy along the way. We’re only lines in a spreadsheet to them.
Maybe they’ll succeed in turning BK into the next Goodman Sachs, but really do our clients or regulators want that? Maybe the shareholders do, but no one else.
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It’s funny because it’s true!
https://www.instagram.com/reel/Cy8B5alLorZ/
Google John Oliver & McKinsey. Then head for the hills
Robin retired and was solicited by headhunters to run BK.
I’m no fan of Robin but he was never “a CEO from the outside who wasn't good enough to stay at his previous company.”
Anonymously trashing an accomplished leader says a lot about you.
This is the third time that we’ve had McKinsey in to rearrange the deck furniture on the Titanic so to speak. We’ll have forms to describe our jobs, skillsets, education and goals. The children from McKinsey in their crisp new suits on their first consulting job experience will then decide who stays and who goes.
Enjoy the holidays try to de-stress, get good physical exercise and sleep well. If you’re lucky enough to get a bonus, don’t spend it. Unlike the relaxing and layoff free 2023, there will be massive layoffs every month in 2024 and I do mean EVERY month.
" Brits are very good at divide and rule." This comment has been stolen from Fish bowl .
Actually BNYM pays the same as GS for equivalent talent. People who are grunts will be paid as grunts. Stars will be paid as stars. Any remaining salary differential is easily explained by regional pricing.
I know we want to complain about pay but we are equivalent for our regions.
We’ll try any and all goofy project management fads before we simply hire competent PMs. BONY Agile means that an SME spends nine months teaching the PMs what needs to be done and three months working like h3ll to complete it while constantly being asked “is it done yet?”
They can't make BNY like GS, the premise is already flawed. GS would never hire a CEO from the outside who wasn't good enough to stay at his previous company.
@1qik
I also had a meeting about using PODs in my area. No explanation of what a POD is, why is it important or beneficial. Just "We're marching on a new music now".
And yes, one architect that will also work as a liaison with 5 other LOBs. That guy is already pulling his hair out now.
SMH.
Had our first formal planning meeting to discuss arranging into the “pod” model. Was a total disaster, management was unable to answer basic questions.
We are to group into pods of 7-10 which include scrum master, devs, SME and testing. There will be one manager, one product manager and one architect per application no matter how large the application. There will be no division of responsibility and testing will sign off to SME in the pod. Half the group was defacto demoted in the group meeting.
Will be interesting.
@1lez+1pPygu24
I resigned months ago. I talked briefly to CIO. It went the exact same as meeting with Bob’s in office space, and I never saw the movie until recently. I even told him I answered to multiple different bosses, hearing if I sc--w up I hear it from each of them, and wished CIO well with their November layoffs.
I can’t wait to meet with the Bobs and wish them well with the layoffs.
this was already done 6 years ago. Different Management firm. (EY ?)They told us to cut layers. we normalized from 12 layers to 8 now. 'fake promotions' by putting people managers or they quit, so the layers go up again. A real promotion is supposed to make someone go up the ladder not build more ladder beneath.
If they do make this company into next GS, it would be the Wish version for sure. Ifykyk
If we can’t attract and pay talent like GS, we can’t turn profits like GS, and vice-versa.