Thread regarding Bank of New York Mellon Corp. layoffs

The coming layoffs

For this week’s layoffs, how long ago was the decision made of who is on the list? Was this pretty recent like a few days ago, or had they known for a while?

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| 11665 views | | 26 replies (last November 8, 2023) | Reply
Post ID: @OP+1pr6jD9R

26 replies (most recent on top)

@1ebu+1pr6jD9R regardless of Bipartisan covid relief, $100k is not a lot (or anything)

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Post ID: @3iec+1pr6jD9R

@1ebu+1pr6jD9R regat of Bipartisan covid relief, $100k is not a lot (or anything)

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Post ID: @3nwy+1pr6jD9R

Thanks to the response to Covid - not covid- response to Covid and the current administration, 100 K is about 50k.

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Post ID: @1ebu+1pr6jD9R

100k is nothing nowadays, but you're not necessarily wrong about that level/range being earmarked for layoff. Management would rather keep people who make half of that and happy to do so.

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Post ID: @1vpn+1pr6jD9R

@1exj+1pr6jD9R

Nope! Just slackers like you regardless of location and work arrangement. Please be on the lookout soon for the “catch up” invite

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Post ID: @1qib+1pr6jD9R

The day will come and go without incident and you will all have gotten worked up for nothing. Just breathe.

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Post ID: @1czs+1pr6jD9R

Remote workers. Closed locations.

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Post ID: @1exj+1pr6jD9R

If you make 100K or more (to quote Mr. Blutarsky) “my advice to you is to start drinking heavily.”

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Post ID: @1jmk+1pr6jD9R

Considering Dermot is getting rid of the sub pay next year, you would be fortunate to be let go this week. Next year is going to be unbelievable!

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Post ID: @1uyg+1pr6jD9R

It's super disheartening reading some of these comments. I'm sorry to those that are worried. I used to be that way myself, sick to my stomach with worry the weekend before and also during the days it was happening until we knew it was over. I had to really ingraine in myself to stop worrying about things that are out of my control and worrying would not change anything. Just made a vow to myself that I would worry when the time comes if I was chosen, but that things always have a way of working out. I hope maybe this comment will help someone. Keep your heads up and stay strong

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Post ID: @1zji+1pr6jD9R

@1xsj+1pr6jD9R with all due respect, you sound a little brainwashed. I would love to hear more about these so-called "projects" that require weekend work....

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Post ID: @1ost+1pr6jD9R

I work so hard for this company. I know the thing these days is quiet quitting but I spend my weekends and evenings working for this company because I enjoy my job and care about the projects I work on. Just like all of us, I’m also nervous going in tomorrow because the layoffs could affect anyone. It’s not very comforting knowing only 1% of us is being poached tomorrow. It’s not very comforting to know our manager has very little power to do anything that’s coming from top of the house either.

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Post ID: @1xsj+1pr6jD9R

@1tiq

Well one thing that we do know is that this is a 1% layoff so take some comfort in that.

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Post ID: @1zhu+1pr6jD9R

I’m afraid to go in tomorrow I mean I’m terrified. I have a horrible queasy feeling in my stomach. I know that I’ll be up all night worrying.

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Post ID: @1yzp+1pr6jD9R

Names are known well ahead of the layoff date, and go through HR/legal reviews.
Many direct managers try to protect their staff the best they can, but from the higher management perspective the targets are what they are, so there is practically no room for negotiation or debates. If one manager removes a person from the list, another manager will have to add a person.
Managers of course are not allowed to let impacted people know ahead of time, but there are still ways, and some managers find them.
There is no "safe" anymore just because you do your job well. If someone can do the same job in a lower cost location - your job is not safe. Some roles are simply not critical enough for the company even if people feel that they are critical - those jobs are not safe either. None of this is necessarily a reflection on people - conditions change, some roles become less important over time.
Best way to feel "safe" is having marketable skills. Opportunities to acquire them exist, but finding time/energy/discipline to use these opportunities may be a problem.
There are only so many hours in a day. Investing all of them (and more) into getting the job done is not a strategy which makes one "safe", unfortunately. Investing some of the time into upskilling is probably a better way. But this is not easy, and often involves stepping out of the comfort zone, even if comfort zone means working long hours, weekends, etc.

Logistics of layoffs are not important - how far in advance did managers know the names, whether its done remotely or in person, why percentage varies across different departments, etc. I would suggest not focusing on any of this stuff, it just doesn't matter. The only thing that matters is whether the impacted folks are prepared for separation. Financially, mentally, and skill-wise to look for new opportunities. Those who are will do well, and probably will find better jobs.

Good luck to all, hopefully this round will turn out to be smaller than some of the comments suggest.

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Post ID: @1tiq+1pr6jD9R

If we were chosen...should we see the surprise"catch up meeting" first thing in the morning?

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Post ID: @pil+1pr6jD9R

@tsa+1pr6jD9R Upper management, are those who reports directly to the ceo?

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Post ID: @eam+1pr6jD9R

If I was told I had to give BE to someone who didn’t deserve it - I’d say no.

But ….. not everyone has ba--s.

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Post ID: @bic+1pr6jD9R

@otd
I agree completely. The managers have no say in this. Just like with salary increases. Upper management decides what percentage increase is available to each department. And it is not the same across all departments. In this case, upper management is controlling the percentage of staff to be cut from each department (again not consistent across all departments). And I've seen a lot of highly respected managers let go in the past year. Nobody is safe.

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Post ID: @tsa+1pr6jD9R

You overestimate how much impact managers have. They say no and it happens anyway. These mandates come down from the very top of the house.

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Post ID: @otd+1pr6jD9R

How bout the managers get a backbone & resist & say no.

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Post ID: @ejz+1pr6jD9R

Of course it doesn't bother them to look you in the eyes for 2 months because they are heartless bStrds. Believe me, I know firsthand.

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Post ID: @yts+1pr6jD9R

It’s one of the hardest things to do for most. There are some that actually enjoy it though. And not just here but at every other place I have worked. Some build great teams that accomplish great things, others not so much but instead blame others for their shortcomings and allow the others to pay the price. I have seen it over and over again.

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Post ID: @cbr+1pr6jD9R

How do you look people in the eye for 2 months knowing what you are about to do to their family

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Post ID: @wwy+1pr6jD9R

Around two months ago we provided the names.

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Post ID: @oap+1pr6jD9R

Weeks ago. Likely your manager gave names a month ago or longer

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Post ID: @mhg+1pr6jD9R

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