I did not hear of any more today layoffs today. Is this round over?
36 replies (most recent on top)
Thank you for posting the CARE act here. It’s good to see that at least ONE coworker understands that BNYM took Trump money in return for no layoffs in the COVID era.
People were certainly terminated for cause in that era but there were no layoffs.
There were no layoffs this year. It was a breeze of a year.
@hcsx, you can't google something that doesn't exist. Post a link to ANYTHING showing BK got money to keep employees. Anything.
Other than a decade ago when local govts would give us real estate if we promised certain headcounts, there is zero, nada nothing.
@1lr
I’m sorry, but this post is completely unintelligible.
Allow me to guess… University of Phoenix major in Feelings?
And yet you can Google it and read it. When your beliefs contradict easily referenced facts and your mind rejects them, well… that’s clinical C.D.D.
@gxuu, I guess you don't know the definition of SPECIFIC.
BK got NOTHING from the CARES act that required us to retain employees. NOTHING. PERIOD.
The Cares Act and it’s like the only reason that your but still has a chair for you at work.
A mind is a terrible thing to waste.
The Coronavirus Aid, Relief, and Economic Security Act,[b][1] also known as the CARES Act,[2] is a $2.2 trillion economic stimulus bill passed by the 116th U.S. Congress and signed into law by President Donald Trump on March 27, 2020, in response to the economic fallout of the COVID-19 pandemic in the United States.[3][4] The spending primarily includes $300 billion in one-time cash payments to individual people who submit a tax return in America (with most single adults receiving $1,200 and families with children receiving more[5]), $260 billion in increased unemployment benefits, the creation of the Paycheck Protection Program that provides forgivable loans to small businesses with an initial $350 billion in funding (later increased to $669 billion by subsequent legislation), $500 billion in loans for corporations, and $339.8 billion to state and local governments.[6]
The original CARES Act proposal included $500 billion in direct payments to Americans, $208 billion in loans to major industry, and $300 billion in Small Business Administration loans.[7][8] As a result of bipartisan negotiations, the bill grew to $2 trillion in the version unanimously passed by the Senate on March 25, 2020.[9][10] It was passed by the House via voice vote the next day, and was signed into law by President Donald Trump on March 27. It was originally introduced in the U.S. Congress on January 24, 2019, as H.R. 748 (Middle Class Health Benefits Tax Repeal Act of 2019).[a] To comply with the Origination Clause of the Constitution,[11] the Senate then used H.R. 748 as a shell bill for the CARES Act,[12] changing the content of the bill and renaming it before passing it.[13]
@emsg, quit spewing your lies about the govt paying BK to keep employees. Cite the grant BK got or the specific tax code that dictates anything about retaining employees. You'll just be wasting your time because it doesn't exist...
It was over before it even got in gear. Perhaps a dozen employees at most were displaced. It was even smaller than even the January layoff, which was .05%.
It turns out that there is a lot of work for HR to do in displacements and it is difficult to regain that expertise.
After Charlie left after his August 2018 massacre we’ve not seen a major layoff since. It wasn’t so much Todd as it was the COVID pandemic era, the Trump tax code revisions that aided and required the U.S. to maintain employees, etc. .
The only sure thing now is micro layoffs and carefully weeding out nonperforming employees for cause.
The only way that the Bank can survive the retirement of the Boomers is with our offshore resources, mostly in Chenie.
No worries… we’ve all left or are working on it.
One Boomer outworks a team of GenX, GenZ &millennials, all while training, retraining and even more training. Zero backbench is the crux of the issue for management. .
Oh No!
All the works they were slated to do, are not completed. Either they have to catch up or it is going to be distributed
https://www.thelayoff.com/p/@2zcc+1puDaMRO
Wow. Better not layoff any boomers. Outlook nor good for millennials.
Judging by the grammar and spelling, @3ksb likely never graduated high school. But I'm sure they're a dedicated, hard worker with integrity.
People like 3ksb+1puDaMRO are very gullible. They in - fight when they should be banding together against the common enemy, which is senior management… It’s very similar to the government. They pit people against each other so we don’t revolt against the real enemy… The government
@2zcc+1puDaMRO
Boomers can leave the firm. Them leaving the firm is not going to bring down this institution. They are just another worn out part that needs to be removed and replaced with a brand new, functional, energetic part.
And YES they are the millennial who work and have integrity to provide what they are paid for. Not entitlement oriented (may be a few) , egoistical seniors (who are delusional in their thinking that this huge firm is being held together by them ).
Please leave , the firm will be still here even after your funerals
Oh no!!!!
All the work they were slated to do, are not completed.
Oh no!!!! Millennials will need to “pick up the works that are not completed!” Just as boomers have done for 40 or more years.
It it over? It never even started!
The annoying aspect of this rumor and fear mongering is the amount of time lost.
Seriously in my group most of the seniors with long tenure (as there is no clear way of volunteering but giving hint to manager) were expecting to retire with a year of SUB pay.
All the work they were slated to do, are not completed. Either they have to catch up or it is going to be distributed
They are a _bit_ unhappy because their one-year of paid vacation did not materialize and moved into quiet quitting. May be setting themselves for a layoff in the coming months.
Whoever with this sadistic pleasure of triggering anxiety and these type of work stoppage please don't.
Remember these folks are big earners and the layoffs would not have touched their 401k match or anything as they are "senior citizens" !!
Maybe they stopped so they can do it when we least expect it. You know add a bigger element of surprise smh
Yep, stopped before it even started.we’ll never know why.
So all of the HR friends were wrong. Just more proof that nobody in the know ever gives accurate layoff heads up. But we do have plenty of coworkers who feel that April Fools day should be celebrated monthly.
How could a layoff be cancelled due to a broken water main?
HR haven’t been in office for over 3 years so they must have electricity
it's not all people getting laid off. Lots of REQs including backfills are being closed and rejected to help keep from laying too many people off. this gives some cushion
Nothing quite says job security like a .05% weeding of the garden.
Well, this certainly turned out to be the mother of all 1% layoffs.
Minor weeding in the garden.
@buk
You seriously think this is how we are best for our clients??? Maybe it makes the analysts who are constantly looking for expense cuts happy. Very questionable that my department can meet end of year requirements after the most recent cuts. I don't see how that works to keep a client happy. But some number cruncher must have decided that the reduced employee cost will outweigh any penalties.
Whoever mandated the number of cuts in my department at this time of year does not understand our line of business at all. This is always crunch time for us with all hands on deck working 50 - 60+ hours per week. And now we just got hit with a 10% staffing cut. That's what happens when you are not in a "growth" center.
It’s never over. Annually we will cull out the bottom rated employees (take note that I did not say the worst performers) continually. We have done this for several years now. This is how we become the very best we can be for clients, shareholders, and ourselves.
The 20th is accurate but only for people who were supposed to be impacted but were out on vacation time. Have heard nothing about the December 31st date
Stop living in fear! Why do "you" need this company so much to constantly ask this question??
Jif is spouting horsesh-t. Pay no attention to the troll.
I’ve never heard of no bell
I didn’t hear no bell
No, till 20th Nov. In phases, final date is 31st Dec.
I heard of one today.