I am one of the Operations senior managers from Pittsburgh. I heard there will be 76 Managing Directors from Engineering will be laid off by the end of April
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“Been a bloodbath so far…”. ??? I haven’t heard a peep.
I was told that 76 is a low end estimate. It's been a bloodbath so far
All of you know this is made up by some low level person in India
New technology head will be Mike from Pittsburgh office
In an old banking house not far from the sea,
Lived 76 Directors, as proper as can be.
They managed the money, they counted the gold,
Till one fateful day, a tale to be told
Till one fateful day, without a clue,
They heard the news, oh what to do?
Laid off they were, no longer desired,
Their banking dreams now all but retired.
Their offices, once bustling and grand,
Now empty, like a deserted land.
No more meetings, no more charts,
Just memories of financial arts.
Thank god!
If you consider MDs in LOB tech, 76 is a possible number.
Seventy six trombones led the big parade,…
This must be a rumor
They should fire them the same way that they are targeting old timers and firing them without offering any severance pkgs.
Is it just engineering cutting directors? What about operations?
I’ve yet to experience a single effective Managing Director in Technology and I’ve worked with quite a few of them.
Can’t conceive how cutting expensive politicians with little knowledge of technology could be anything but a big win for the Bank.
There are barely that many MD's in all of engineering.
Engle and RV rave about becoming the first global bank to deploy AI supercomputer powered by NVIDIA. Nothing more than spin. Absolute waste of time, money and resources - all the more reason to lay off.
Seems long overdue - our tech is a joke. There's no reason to have this many senior roles in the first place.
76 Managing Directors in Technology says worlds about overpaid bloat at the top.
76 managers, all asking “Is it done yet?”
Pitts is not the red headed stepchild of BNYM. You’re a growth center. Imagine working at a location and being told you’re not a growth center. One where they keep selling off buildings at that location, and make no repairs except essential repairs. Then you’ll really feel like the evil stepchild! Working at a non growth center just really feels so unprofessional like working at McDonald’s flipping burgers.
As a Pittsburgher, we have not forgotten that we are still the red-headed stepchild of BNYM. Drastic improvements in compensation and culture will only change this.
Yep, MDs and Sr.Dir and multiple levels of Dir! Save money, protect the few remaining American jobs, and get rid if highly paid useless MDs!
Its already started in APAC !!!
76 MDs would be a good start.
These folks are essential to the business.
Crazy move.
Engineering is the life-blut of the company.
Could this explain why Sabet called in sick to his own town hall last week. Jeff winging it all the way.
Possibly
Next Boeing company ,BNY landing soon!!!
GOOD LUCK
OMG please, hopefully PMs as well
Sorry mate. Nobody tells anything of value to people in Pittsburgh.
Fake no news about it
What?