@5tql, THAT explains it. You see, Mellon was bought by BK and so while YOUR severance may have changed, it's been consistent over the years for us BK employees.
And BK layoffs while substantially accumulative, never came close to 10%.
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Mellon existed j@ckj@ss, and layed off 10% a year from 2000 to 2008 each and every year, no exceptions.
@2khu, BNY Mellon did not exist 30 years ago. My advice is to complain about those hoodlum kids on your lawn instead of non-existent cuts in the SUB plan.
- were these cut and when, someone recently with with 15yrs of service received 30 wks of sub pay just this past sept? 2wks/per year tenure is what expected
Again, you’re only succeeded, once again, as outing yourself as a newbie. You cannot have been here for 30 years because you know so little of our Sub Plan cuts. My advice is to pay attention to the tenure of the poster.
@1obc, no, there was NOT additional months of SUB based upon title. There is has only been a minimum based upon pay grade and that's what it still is today.
You’ve simply only outed yourself as a Johnny come lately. There used to be additional months of SUB based upon title (AVP, VP and up) and 2 to 12 months based upon tenure and all of those were all cut.
40 year career in banking at four institutions, my own company, working for, with and in competition to the Bank including negotiating a contract with their lawyers to sell them CMO accounting software. I walked and they came back to beg me to come back, which I did on my terms.
Add yourself to the list of those who don't know squat. I have an impacted employee who is indeed getting a very ample amount of sub pay.
@1lzr, the SUB plan hasn't changed in decades. Name ONE part of it that has changed.
Layoffs are next week, not this week.
Excellent. I’ll come in my new Grim Reaper Halloween outfit.
Nobody on this board knows squat. I can tell you that the Sub will be cut. I’ve been here through five or six cuts in SUB and it’s become a favorite expense savings target because nobody knows how much money they will get and few displacees bother to tell anyone their deal.
It was once a very cushy benefit, but those days are gone.
Any idea of which divisions or groups will suffer layoffs?
Also heard Nov 6. Might be a few senior people announcing their last day this week, as they have been told.
I heard November 6th, but we usually let Senior people go the week prior. Matt “water hole in ground” s was let go last week.
Please provide us more information why you think it’s this week? Do you have insider information? If so it explains why open enrollment wasn’t rolled out last week. If it’s 10% layoff they probably need it done this week and next just to give HR time to contact so many laid off employees
November 6-this is Halloween week. 🤦♂️
This week? I’ve only been hearing mid-November. Curious if anyone else is hearing about layoffs this week and knows who might get hit the hardest.
I thought it was Nov 6