I don't understand why we need layoffs

Considering how high turnover we have in all areas I'm genuinely surprised we even need layoffs anymore. Especially considering that most of the people leaving are those who are high performers and those who have been here for a while, meaning they are the higher earners - the bane of BNY Melon's existence. Are they not leaving quickly enough for those on top?

They certainly created an environment for us to search for new jobs on our own. Pay is laughable, as is our tech infrastructure, morale is low, don't get me started on the conditions in which we have to work...

The strategy used to be "let's cut our way to better profits," but now it seems that has changed to "let's cut and force people out on their own to better profits."

I'm not really sure either of those will work out all that well for the company in the long run.

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Hope he ROTS in hell and endures the suffering for causing pain to others for no reasons.

Because the CEO who was given everything in life by being set up for success by his family feels it is his duty to destroy the lives of 10% of the staff every year because some poorly labeled "Manager of the Century" said that is what you are supposed to do. So he runs with that as if it is a mandate from God, never considering the damage he is doing to the company or the real hard-working people trying to find ways for this company to succeed. As long as Charlie is wearing Welch as a hat, this company will struggle to maintain talent, to get the best from their talent, and will increasingly become more difficult to "upgrade" talent. But he does not care; he is buying his dream home and in a few years he will move on to screw up some other company but the damage will be done and when the fallout of his damage hits the stock market he will hold his chest out bragging about how the company could not make it without him -- "just look at the evidence" will be his line.

It looks like they are bringing in contactors to replace some people at the northpointe location...at least before they close it down.

Thread regarding Bank of New York Mellon Corp. layoffs

I don't understand why we need layoffs

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