Do you predict that there will be Bank of New York Mellon layoffs? Any chatter, news or rumors?
22 replies (most recent on top)
Nope, there turned out to be no layoffs once again.
Yes, and in other news the sky is blue and water is wet
I don’t think so. I imagine that the older workers understand that they’ll get SUB and will enjoy the transition.
If they do discontinue the 401k Plan, they will not need to do routine layoffs anymore. Employees will leave on their own. If they decide they want them to leave even faster, they could cut or eliminate our subpay. That would most certainly send people running for the exits in large numbers - especially the older ones with larger paychecks and most experience.
Layoffs are bound to be heavy in 2024 as they were sparse and small in 2002-2023. ExCo was more focused on grabbing employee 401K contributions.
Pro Trip: Start your job search networking now. You’ll be the among the first applicants and even if you aren’t displaced your networking will get you to a much better place.
That was the failed layoff. Nobody knows why it stopped before it even started.
It will likely always be a mystery.
I love seeing all the propagandists fabricating info about the layoffs. I have first-hand knowledge that these layoffs are, in fact, occurring quite regularly. The January '23 was quite significant, despite what the RV sympathizers would have you think.
1500 is likely the upper bound of what HR can handle in a single layoff due to incompetence and tech debt
@4ehe, nobody in the last 3 decades thinks they are guaranteed a job so quit spewing the clichés drilled into your head by idi0ts. What we DO expect is to be treated fair and honestly and BNYM falls far short of that.
@4dwg, closing Oriskany is a 180 degree turn from what we were led to believe. You could see a slight decrease in the number of employees the last few years but even Charlie told them how impressed he was with their location. Same goes for Syracuse. They were always told that they were going to double the size of their building but instead they closed it. I understand that new "leaders" have new plans but there's a much more ethical way to deal with changes.
Does it really matter if Oriskany was warned or not. It has been so obvious. I could tell it was going to happen. Management has been known to keep secrets to the last minute anyway. The writing is on the wall and now just waiting for the layoffs to start.
Thank god that someone else remembers all of the old Oriskany threads. I took sh1t every time that I noted it and it all came true to a T.
“I’d like to remind you that prior to the announcement of the Oriskany office closing, someone on here posted when this would happen and who would be making the formal communication. Sure enough, it happened exactly as he or she said. Furthermore, in the same post they said the plan is for all of these employees to be let go in the coming year.
Same with the Jersey office when it was shared prior to a formal announcement.
Your comment is ignorant.”
So to all of he naysayers… read better.
No. All of the constant warnings of layoffs all last year long were exactly the boy who called wolf fable come true.
I stood alone pointing out that 2023 was the lowest level of layoffs in 40 years while all others were panicking and stressing from these pranksters. You pranksters destroyed your coworkers’ mental health and that’s a sickening thing to do to people.
I pointed out all last year that layoffs were rarer in 2023 any year in the last 40 years, and that Robin and ExCo were d focused on benefits cuts first, particularly your 401K match,
You kind of need people to still be around to steal their match. After that, back to quarterly layoffs.
Don’t forget… I’ve predicted all through 2023, the lowest layoff year in 40 years, that after the 401K matches are taken that, 2024 will be marked by major layoffs year long.
Were there layoffs in JC? Is that why they have room for WP employees to move there?
Are you saying closing the Jersey office means everyone may be let go this year? Or is there any rumors about WP office. So far I hear closing the office is not affecting jobs people just have to report to another office
@3pza I’d like to remind you that prior to the announcement of the Oriskany office closing, someone on here posted when this would happen and who would be making the formal communication. Sure enough, it happened exactly as he or she said. Furthermore, in the same post they said the plan is for all of these employees to be let go in the coming year.
Same with the Jersey office when it was shared prior to a formal announcement.
Your comment is ignorant.
No one here knows anything. This is worse than a gossiping forum. It used to be a bit informative now it has become garbage.
All the predictions made here, last year, never happened. It just made a lot of people stress about it.
Still I do visit it hoping there will be some information on lay offs. There are folks like me.
Also market is not that hot as it was a year back.
A person in our group left for a startup, base more than doubled but was let-go in less than six months. Now she is stuck as she cannot lower her ask. Out of work for nearly 4 months. Just one sample but scary.
That was the January layoff that failed and wound up as a 0.05% layoff.
At the time an HR connected person talked about cancelling because of a water main break. But it was a fail
2023 was about cutting benefits and stealing from employees.
2024 is going to be all layoff oriented.
It’s devilish when you think about it, but the thinking seems to be to steal our 401K matches one last time, then eliminate the plan and terminate employees
There will be layoffs for the foreseeable future. The only question is how many.
Yes we have layoffs every month. This has been a thing here for a long time and will continue to be a thing well after 2024.
Yes there are more in January. I heard it from my sr mgr but they didn’t say what % there would be . Based on what I’ve seen it could be week of the 8th
Yes they did lay off 1500. Why does everyone think this did not happen? The bank is big. 1500 or 15, it is likely a su---r punch to those who were impacted.
What happened to the 1500 headcount layoff they announced January of 2023.. did they actually end up getting rid of that many..? Rumors are they didn’t actually go through with it and might make good on it this January .. my guess is, ppl that arent complying with the 3 day in office policy are the first to get the axe