It feels like older employees have once again been affected more than other age groups. I'm talking about people over fifty. Has anybody else noticed this or is this just specific to my group?
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Yes + 50 has been ongoing they have let go of close to 20 people in this category over the past 7 yrs
@4kzo, and how many people who weren't let go were under 50? Out of my group of a couple dozen people there was only one who MIGHT have been under 50 by a year or two. Other than offshore employees...
And just think of the THOUSANDS of interns Robin has already committed to bring on in 2024.
Of the people I personally know that were laid off (outside of major site closings) - ALL BUT ONE were over 50. Over a dozen people I know personally and only one was under 35.
I know of several 70 year olds who were asked to retire with SUB.
I don't see very many employees under 30 years old other than the ones in operations making $30k per year. There are even fewer boomers though, most of our older employees are actually gen x.
It’s easy to game the OWPA system. Target #1 is old white men because they’re generally the most expensive. Then mix in millennials and Gen X, but only the underperformers. Last on the list is D.E.I. hires, but only those who are truly horrible.
But make no mistake… the target is always the old white male.
They do provide the data. I had an attorney take a look at it for some statistical analysis and not surprisingly BNYM covers their bases here. Not one group was wildly targeted; they make sure to spread around the layoffs. That would be an easy lawsuit and they obviously want to avoid that. It is frustrating as it is harder to find jobs the older you are and the 2 week per year SUB pay is sort of a joke. You’re really forced into finding another job which means SUB pay ends and they haven’t really paid you 2 weeks for every year. Sadly, the house always wins.
It’s always older close to retirement. Ur they sprinkle in poor performers and others so they don’t get sued . Trust me this cr-p hole does their homework in everything
I reviewed the data when I was let go - they include the interns that are not offered full time position in the data they submit to Labor dept. Which is plain cheating - we should pool money for a lawsuit but then you dont get the Sub payment.
There should be a lawsuit for age discrimination
Even if they sprinkle a few younger employees here and there on the layoffs, older employees should get together and try to sue. It is not fair.
You don’t need a lawyer. The SUB is a very good deal.
Keep in mind that most banks give 2 weeks pay…
I’d go so far as to say that our SUB plan is the sole benefit we have that is competitive and exceeds our competitors.
It’s always been that way. They game the selection by mixing in high performing older boomers with millennial slackers. D.E.I. hires are virtually untouchable. Don’t need to RTO, don’t need to produce, get unheard of access to Senior management diversity powwows and most can’t be bothered to even attend.
You should hire a lawyer to review before signing the separation agreement.
RV has admitted he is focusing on hiring "younger" interns and new grads (to pay less. He is on record for this).
110% age discrimination. I was also fired for ageism and saw older people completely chopped before me with shocking impunity. They DO have attorneys who mix in a younger or 2 to cover illegal tracks.
Just plain evil.
It's absolutely age discrimination. They just have really good lawyers who help them stay out of legal trouble.
if you get BE rating, you're a candidate
Let’s see, I’m 64 yrs old. Not one sick day in fifteen years of service. Make under 100k a year. One of the top performers in the group and let go. Seems like it to me. Just makes no sense. Thanks for the memories.
Definitely. I haven’t actually seen anyone reach retirement age in over 10 years. They’re all forced to retire early or laid off. Makes me nervous for the future. How will I live on savings and then our cr-ppy 401K? It’s far off for me, but time goes fast.
Bullsh*t if you believe the data is showing us anything. BNYM has been getting rid of their older (higher paying) staff for years. They throwing the younger bad performers in the mix to make it appear they aren’t discriminating.
That’s pure bullsh*t.
so far anyone i know who was canned was at least 50 or older.
Older employees makes the most money so of course they want to replace their jobs with much cheaper labor
They have data on all the ages of the employees in each group and they share the data when you're let go. They aren't discriminating against age and they demonstrate that with the data. There are many possible reasons someone is chosen.