So much for a soft landing: Nearly 40% of companies are still expecting layoffs in 2024
2023 saw the job market slow as well as the rise of the “quiet job cut” (counterpart to quiet quitting). And now, as 2024 rolls in, business leaders are expecting to see more layoffs and hiring freezes.
https://www.fastcompany.com/90999059/40-percent-of-companies-still-expecting-layoffs-in-2024
Great news for those looking to move to better companies in January.
Don’t be a lifer and don’t let your negative worries define you..
We are in the hottest job market in four years. anyone with skills can name your price. Read the article and take advantage of it.
https://www.bls.gov/charts/employment-situation/civilian-unemployment-rate.htm
@3tos, I buy things all the time that are more expensive. Either because I wanted better quality, it was less involved, it was safer, etc, etc.
As I said, “The only work that gets shifted to India are jobs that Americans won’t do.”
Part of a job is the value of the job. Americans generally will not work jobs that pay as low as offshore workers. But Americans with solid skill sets will always make far more money than offshore. You must bring a lot more value to the table to ensure that your position is justified.
You wouldn’t buy something at quadruple the price when you can get it cheaper would you? So why would you expect that the Bank would.
Wow are you ever a b-m rap.
Boomers aren’t doing a disservice. We worked hard and tried to pass our work ethic on to future generations. And for those who have no work ethic, which now sadly appears to be GenX on down, we’re patient and caring mentors and role models.
Boomers created technology. Invented UNIX in the early 1960s in San Francisco, Carnegie Mellon and M.I.T. while the teachers and defense industry learned at our feet. Yes, we were hard workers but we were obsessed with creation, not money, but we did make money and made everyone in the world more wealthy. We weathered the 1960s and 1970s in the worst economic era post WWII tough economic times.
Boomers tirelessly educate and help pass on the info to the later generations so that you can support, enjoy and pass on our work. No boomer would ever discourage a hard working younger generation to make their wealth, achieve their American dream. Quite the opposite… we’re largely frustrated that you’re holding back for some reason… and that reason is likely that we gave you too much. We were hungry and perhaps we forgot that aspect.
It seems that you believe that Boomers were simply issued a million dollar home in the suburbs? We don’t have a million dollar house in the suburbs… not even close.
But we do have several children who each received a $250,000 college education with no loans. And that my friend is how you should repay your debt to us, by living for your own children.
Such a wonderful post from a millennial who truly gets it. I hope that this was one of our children and it may well be. We raised them to be independent, but as with most all boomers we covered their entire college costs.
I’ll believe that millennials are the future and can run the bank when I stop seeing them call in sick every time their cats toss hairballs.
@1lcp telling people to "lay off" on layoff.com. That's classic.
Dude, it’s been a drop off in layoffs for the whole freaking year!
Where have you been?
Perhaps our clients wouldn’t be seeing a decline in BNYM professionalism and quality of work if slackers who refuse to even come into the office forces the Bank to move duties to India where they have an actual work ethic.
@1lc
I agree.. It is amazing how often boomer retirees are often told to stop posting at work. Anybody who knows boomers understands that the very last thing they’re going to do is to post anywhere while they’re working.
Having worked for the bank, competed with the Bank, out negotiated the bank’s lawyers when they needed my products and worked with every level from clerical to knowing two CEOs well (not the fake CEOs), and even presenting to the board of directors.
After all of that of course I’m interested in following the Bank’s whiners here, as it is as astounding as it is hilarious. I can see why the bank is falling apart.
And I should qualify that with I'm GLAD younger generations have it better. But they should be pretty careful before they start complaining like SOME do.
@1uba, I'm an older genx and feel lucky that I had is so much better than my parents and grandparents. The younger generations complain about the price of homes that are mansions compared to what we had. And can you imagine what younger generations would think if we had a draft or mandatory military service today? Or if cars only lasted 80k miles and didn't start half the time it was below freezing? They can go their whole life without changing a flat tire and have never seen a muffler shop.
What strikes me is that Boomers generally created their own jobs. We grew up post war, were free, and virtually everything needed to be invented or improved. Most all of my friends, me included, started businesses. Everybody tinkered on ideas in their parent’s garage. To this day most all of my grade school friends are well known names in their cities or industries.
We also all worked multiple jobs. Inflation was crazy at 21% in the 1970s and everybody worked multiple jobs, were blue collar or had huge school loans to pay. Everybody had multiple occupations as well. I created and ran a small tech business for over a decade while working full time at the bank. 40 hour weeks for me and 37.5 hours for the Bank, and it was just the way that it was.
Somehow now there is an attitude of dependence with no concept that you can create your own job, and also career.
Today we see an attitude of complete dependence… particularly after GenX on down.
To those who responded,
Boomers, please leave . We are the future and we know how to hold this firm. You can cash out.
@1ihl is lecturing us about quiet quitting while posting on company time. Instead of worrying about what boomers and other people are doing, how about you take a deep look into your own actions. Or heck, even a basic glance of what you're doing...
Believe me, there is no need to tell today’s workers to enjoy your hobbies, free time, family & friends. Never seen a generation that was so allergic to work. It is stunning to consider how bad the future of America is going to be.
If there is possibly a less coherent post in this forum, I for one would love to see it. The educational system has absolutely failed GenX on down.
LOL…. boomers owning the million dollar house in the suburbs LOL.
Children, we don’t own a million dollar home in the suburbs because 90% of us paid your entire college education including the “college experience”.
Layoffs are virtually nonexistent… what are you even complaining about? Companies are in hiring mode and unemployment is super low. If you’re not happy it is a great time to find a better job at a nice pay jump.
Quiet quitting is actually not helping. It further aggravates. It makes the management decision to shift the task to Poland or India easy. You are just helping them to justify their decision. You may be doing it out of spite and recommend it but it is not helping the American worker, especially the new arrivals.
Boomers who dominate this forum are doing a disservice. Yes, they were hard workers and made their share of the wealth. They weathered some tough economic times. But why discourage the hard working younger generation to make their wealth, achieve their American dream? Why can't we own the million dollar home in the suburbs?
I am not batting for the bank or management. But the entire attitude of ("do not do anything beyond your job description") minimal work is not helping the individual.
And the overwhelming applause that it gets is pretty shocking even with the disgruntled group here. End of the day, you made your living here and learnt "something" here and moved on.
If you are quiet quitter you are really wasting your life away in the bank. If you are visiting this site like me you are worried about lay offs. Tool yourself with whatever training the bank throws at you and seek greener pastures. Sometimes going beyond your job description provides you that learning experience. It may not yield the promotion you are looking for or the bonus or the job guarantee. But the knowledge stays with you and that is being selfish.
Sorry had to post this.
The stock price crossed 50$ and my "generous RSU gift" went up in value. How many more RSUs will I get this bonus cycle? I am eagerly waiting
“The only work that gets shifted to India are jobs that Americans won’t do.”
Wrong. Americans were doing these jobs until they got moved specifically to reduce cost. No one in management hides it.
It's a shame that our clients are the ones that are seeing a decline in BNYM professionalism and quality of work as more duties shift to India.
The only work that gets shifted to India are jobs that Americans won’t do.
Agree. Enjoy your hobbies, free time, family & friends.
My boss received a meets expectations rating - the dude works weekends, while on vacation, etc. it’s not worth it
2024 layoff numbers have already been provided to teams. Most of the work will shift to India. They will be keeping minimal staff in the USA as possible. Don’t stay overtime, don’t do anything that is not in your job description.