I suggest you stop reading this site because it’s detrimental to your mental health. I found myself reading posts thinking honest people would post valuable information and getting depressed. I was always worried there would be the next round of layoffs. Those layoffs never came or it was somebody that didn’t return to the office. I suggest not reading these lies and living your best life.
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The “Mellon Flagship” never was. Pittsburgh crashed along with the rust belt in 1982 and Mellon happened to hold the construction loans for the Dravo Corporation which went Belly Up.
Mellon didn’t need it and it was 90% rented out. The Client Service Center on the other hand was a planned facility which was ideal for the entire Pittsburgh footprint.
This is truly reported here and has to do with the acquisition of the Boston Company in 1993 in Marlbough Massachusetts.
“Topper” is a term for classic comedy before comedy disintegrated into swearing and posing.
The methodology was “topper, topper, topper Bang!” Where each joke in rapid succession built on the previous progression and ended with the final BANG.
I personally miss the days of true comedians, and consider comedy to be a lost art.
Because Frank Cahouet was a banking genius who saved both Crocker and Mellon Bank. I knew him well, loved and shared his incredible dry sense of humor and enjoyed and agreed with his wisdom and viewpoints. He was an incredible man and the highlight of my career was the many rambling conversations which we had.
He was a great fan of Donald Trump and we discussed this at length before he passed. Men like Cahouet and Trump are far too rare today.
Imagine that Alexander Hamilton and Andrew Mellon are rolling in their graves to learn this fact.
The subject was growth in jobs and BNYM is indeed growing in terms of jobs..
It’s pretty sad when you’re arguing with accurate numbers from Yahoo.com Finance.
You’ve been a Bank for 15 years? Do tell…
@2zin
In all fairness to Roman Regleman, he’s a really busy guy with Linked In and he still needs another five years to eliminate faxes.
After that I’m sure that he’ll be back to focus on fixing your wall.
@1RGF, glad you picked up on my humour!
@2adu Never hard that term before in the U.S. - ‘topper’. What is that? A top performer?
There is massive hysteria in India right now due to P-M efficiency. The culture of being a topper and layoffs dont mix. Everyone is turning on each other. Everyone is worried about their jobs. It's best to stop the gossip and focus on the work at hand.
@2zin Absolutely. When you see all the career opportunities and events happening in growth centers while you’re stuck in an office with literal holes in the floor you see the writing on the stained wall. Especially when they promise for years to upgrade it, then back out recently without even announcing it had been cancelled. Roman even visited saying he was committed to our office. Ha! For awhile I thought that would be cool, close our office and let us work from home. But that won’t last. That’s the step right before layoffs and certainly the end of your possibility for promotions or mobility. I am reading the signs and if you’re not in a growth center, get your resume together ASAP.
Because I knew Frank well, shared his dry sense of humor, knew that he had saved Crocker Bank from bankruptcy, and then saved Mellon from bankruptcy by spinning off the bad loans into Grant Street Bank, staffing staffing it with workout specialists. Nobody lost money and Grant Street Bank shareholders were also well rewarded.
The man was a genius and I was fortunate to know and have some great conversations with him. I feel was privileged to have some long rambling conversations with him in his last year shortly before he passed. We saw eye to eye on everything.
@1dlb, why would you look back at Mellon when Frank Cahouet fired 22% of his employees to avoid bankruptcy? That has hardly anything to do with BNYM today.
This post must have been started by someone in a growth center. Those in non-growth locations don’t have to read this site since their own environment is detrimental to their mental health. The existence of this site doesn’t hurt more than the reality they’re living. For those in growth centers, use this site as information. See what the company is doing to your colleagues and how they are being treated elsewhere. Once they decide your location is no longer a growth center because they’ve moved onto bigger and better things, you will have been warned. So have some compassion to what your colleagues are dealing with. It’s not always so easy to up and leave, or get a new job, as has been some of the advice on this site.
I got laid off in early 2023. It was a gift. Now I just keep reading here to remind myself why I would never want to go back.
Of course I add in the Mellon years before we were acquired by BONY to Become BNYN You’re not very smart about this, are you Sonny?
rum+1stVRfCb- he didnt “leave” for other opportunities. He was also let go after upper had him do the dirty work he tried getting his mgmt team to do which was get rid of top people . I guess karma really is a bi--h
Seems like a HR troll on here.
Face it - Bank of New York is moving to India 🥴
@1bks, we pay a pretty good dividend too.
BNY is growing? If I bought in at the turn of the century I’d have a total cumulative return of 1.78% LOL
So to recap - ever since the consultants and corporate raiders came in, the stock has done absolutely nothing. Nada. Zilch. Everyone knows here to dump whatever equity you have the moment it vests, not a moment too soon. GTFO while you can. The brain drain has already occurred and unless you’re a senior person or EC, or have a substantial amount of equity that you can vest and dump at zero cost basis, you have no vested interest in being at this company.
Go to Yahoo Finance and look up BK statistics. BNYN is growing. it’s as clear as can be unless you don’t consider India, Poland and the U.K. To be subhuman.
I wouldn’t apply here. When even internal people switch to new groups from current groups that are shrinking the new group will choose the new person to lay off first. I’ve seen that repeat many times. You will be the newest person, and you will be laid off first with lowest severance/ sub pay package. US BNYM is too much of a temporary gamble.
Do some post bs? Sure. Are there people posting who were part of the problem and yet come here and claim to be a victim? Absolutely. However, it has also shown very credible detail every time a sneaky layoff is about to occur. It’s informative to those who need to know its happening and who it happens too since nobody tells us our peer or business partners are no longer here. Its also information for those who went thru being let go so others know what to expect. Same goes for struggles in the job market. Like or not, much info comes out accurate and useful
Another response from a BNY Senior Manager or Board Member that can't handle the truth about what's happening courtesy of their own incompetence!
Depressing? These posts are a warning to employees and clients alike of the toxicity and rot that exists within this organization. If it’s depressing reading this site, imagine what daily life is like for the folks working here.
Reading this site has been useful as I applied for a position recently. Good to learn of the horrific culture and $hitty benefits before making any life altering decisions is crucial. The fact that it takes weeks and weeks to go from one interview stage to the next is troublesome and doesn't leave me with a good impression at all. Do they need the position filled or what? And if they do, how long before the person is let go? Do better to recruit top talent.
Some falsehoods, some intuition, and some straight up facts being shared by the brave, like when someone shared Mr. Wells was heading to CNY to shut down the site. Irony is that Mr. Wells left for other opportunities soon after. I guess he was uncomfortable with making the decision to put some many people in dire straights?
We just had the big boss from India here last week along with several other big whigs and now the BIG big boss is going to be here next week! This stuff never happens. Something is going on.
India is definitely taking over. 10 years ago, they seemed like a non-entity. I didn't even see or hear a person from India (except if I was on an IT call). Now, everything is heading their way and I see many people from India actually here in the building.
Tell that to the 1,800 employees who used to be in central NY. There's a third of that now and their days are numbered. And just look at the billion dollar annual severance charges in our financial filings if you don't don't believe us. Or look at the headcount that has remained consistent even though our headcount in India is 10x what it was.
Where have you gone Mellon??? 1990s there was 4 Pittsburgh buildings. They are now ready to leave the flagship skyscaper and shrink to 1 much smaller service center by 2028. Walk around 1 Mellon and ask yourself if layoffs and outsourcing is real.
I went from Pittsburgh, PA growth center to around Boston, MA which was not a growth center. The layoffs were real at both, but you don’t notice the layoff unless you are in the smaller environment. Pittsburgh was much bigger than the office near Boston causing me to notice more. I no longer work for BNYM and moved onto better things. I can confirm in the past the stuff I read here did indeed happen. The office I was part of went from multiple floors down to just one floor left. This year or next year BNYM will soon remove that office location and most likely eliminate the employees.
A major sign to look for is when your whole team becomes from India and there is not many left. Then only time remains to when you will be forced out. I was paid to leave BNYM, but I also had a job at another much better placed lined up. I come here because I don’t forget how I was treated upon leaving, and my new co-workers had similar stories and why we ended up in our new positions.
It’s not this site making you depressed it’s this company. I’m guessing if you’re at a growth center you’re fine. Otherwise it’s just a matter of time before they either give you the option to relocate to a growth center or be laid off. The signs are there. They’re fixing up all the growth centers like money is no object meanwhile all the sites they don’t care about are rotting away.
I been bny more than 10+ years. I started reading this site since RV been here and I saw my team layoff almost every months.
All NYC emp has to go is real. Benefit got cut is fact, and bny failing is real as well.
The people that talk about layoffs are because they know it is inevitable for them. If you are not in an office where layoffs are talked about you shouldn’t worry so much. If I didn’t know there was going to be a layoff coming soon for me I wouldn’t look at this website. I take all these posts with a grain of salt as you don’t know who is being honest. Good luck