Distributed ratings -- mandating that managers misrepresent employee performance (i.e. lie): these are symptoms of advanced corporate body odor -- and ethically/morally indefensible.
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(Several layoffs in my office today, with more to follow.)
Forced ranking.. been common practice for years.
Absolutely true. My manager told me more than once, while my work was among the best in our grouo, he had to give me meets expectations so he could justify promotions for other people.
This company has become one very sad place to work. I logged on this morning to find that I am now monitored as to where I am logging in from. I am also to understand that they will be monitoring our activity on our computers. What next BIG BROTHER! In a very short period of time this company has become the worst place to work. The economy is not in the bag, our company was not doing bad, obviously room for improvement but not bad, this individual has created a hostile environment, taken away any work life balance. He shoves diversity down our throats, really, what about the individuals that have a family? He has made the environment so that it is close to impossible to have both! We are all over worked and have been now for years he has removed any bit of flexibility and all his managers are walking robots spewing the ridiculousness of his thoughts and theories and implementing them all with not a blink. DO NOT WORK for this company. One of the best places to work are now one of the worst! Where is our Board you are letting this man destroy this beautiful company, all very very sad!
Oh! What a tangled web we weave, when first we plan to deceive.
You're not treated equally. The initial mandate is that if you're not in the upper 90%, it's time to part ways. The first round is getting treated with kid gloves with pretty generous separation packages. In the future it won't be nearly so kind.
They gave me below expectations in my performance even though I did a great job. They said the company now increased their performance standard, I knew something was up so I left the company. Really bad management and did not treated employees equally.
I experienced this when I worked there (left early to mid 2018). My manager was a coward who cared more about his personal gain and standing in the company, which cultivated a culture of paranoia and distrust among everyone else in our group. Went from an exceeds expectations to below in the course of a year -- had been doing the same job for 5 years. Based solely on lies and misinformation. So glad I saw the writing on the walls and left before they could do the same thing to me. I feel for you all going through this situation and believe me, the grass is greener elsewhere. Take it a day at a time and the best of luck to everyone impacted by this horrible company.
I received below expectations at my end year and I was puzzled because the people I help daily received a higher rating and they can’t even format a simple email. When I told others they kept asking me how I got that rating it all makes sense now
This practice has been going on for years. Always had to manage to the bell curve. BNYM is the epitome of what is wrong in the world. Instead of growing with revenue, they cut employees to be "more efficient", or the easy way out to drive margins. Management is awful and can't manage their way out of a paper bag. The former Investor Services Group is a prime example. The management team are just puppets, knowing what they are doing is hurting people, but justify it, as long as it is not them. Someone should really take a long hard look at the work that is sent to India and the domestic use of temporary employees. They hire temps to avoid having to pay benefits, which should not be legal. Especially when the number of temp employees is greater than full time. The quality of work has declined for several years as employees don't care, and why should they. The founding fathers of this organization would be ashamed of the management team and the poor decisions made that hurt so many employees, so that the management team can justify their exhorbatant pay and bonuses. Do you really believe the CEO deserves to make a salary exponentially greater than the people who actually make the company run? Good luck to BNYM's clients who want to maintain their own clients. Quality is not a focus, only the profit margin is a priority. You are just as bad if you continue your business with them.
What is the .'Jamie D'reference I've seen. Some relative of Charlie the imbecile? Can't wait to see how many tens of millions he made by cutting 50-80k salaried employees
I hope his yacht sinks
Yep, that happened to me. Tooling along doing my job, got a mid-year review below expectations, no good explanation why from my direct. "Comes from up above, new system."
Funny I'm below since I had no metrics to be measured against in my goals. EOY review, same sh--, I'm below expectations. I "need to step up and take more on." Been asking my manager to delegate more of her work to me, but she never did.
Karma for Charlie - It will Bite him and Jamie D son in law in the BUTT
Mostly today's layoffs happen in ops and business area. Tech coming on 1/16
Heard that total of 148 got layoff today
What a sad day for this firm.Lies and more lies.What happened to morals and standards?
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(Several layoffs in my office today, with more to follow.)