Many of the reductions will target management positions, as BNY Mellon seeks to preserve its investments in junior staff, technology and operations, the people said. Full article at:... — read more 

Bank of New York Mellon Corp. plans to cut about 3% of its workforce this year, or some 1,500 jobs, in its bid to streamline expenses, people familiar with the matter said.

For anyone that read the earnings report - BNY's profits were down 32%. We made $1.2 billion less in 2022 than in 2021. The CEO continues to express his thanks for our hard work and states how we are set up for a great 2023. It's hard to see how... — read more 

Under “Looking Ahead to 2023”: “We are reducing a small percentage of roles in order to redeploy savings into investment areas and to fuel development opportunities for employees.” I read that as “you’ll be taking on more work since we’re laying off... — read more 

We cannot survive very long as a low cost transaction processor. It seems that State Street or Northern Trust might be interested in acquiring us simply to provide cost reductions due to economies of scale. But then again, we don’t have a... — read more 

I feel like my department at bny mellon is necessary and we don’t seem like we could afford to downsize, but how do I know if my group is being targeted by layoffs

Axe not coming down in Poland/India? Interesting

Trust me, they'll cut people, but the jobs will still be there to be picked up by the unlucky employees where weren't fired!

Anyone else wonder why BK never submits any WARN notices?

Any MANAGERS out there with first hand knowledge that can confirm? We may get better answers next week when the blood bath begins, but does anyone know what the severance deal is like? As far as I know, it's 2 weeks per year worked. But from what... — read more 

Email today should really clue you doubters in about layoffs next week. They wouldn’t send out anything about speaking to the media if it wasn’t on the horizon.

https://www.businessinsider.com/goldman-sachs-blackrock-start-layoffs-cut-thousands-jobs-2023-1

Looking for a new job is helping me overcome this stressful period of uncertainty. Basically, what is the worst that can happen to me? To get laid off and not be able to find a new job for a long, long time... I don't believe that this will happen... — read more 

In talking to colleagues regarding layoffs, some of them still think that good employees can feel safe. Yes, that's how it should be. However, I am almost certain that among those who get laid off, unfortunately, there will be a huge percentage of... — read more 

What happened to all the non-vaxxers? Are they still permitted full time remote work? I left for a full time remote job.

The fact that everyone says that there is no logic in who gets laid off creates the greatest anxiety. I haven't been here for a long time and that's why I think I'll be a target, although some people are saying that a long-tenured employee is more... — read more 

I left last month, spooked that I would eventually be next on the layoff list because my group had a disproportionate number of people let go compared to the whole department. Since then, I have heard things have gone more downhill and more people... — read more 

Below are the signs. What other signs are you aware of. more involvement on your day to day like asking for procedures, what clients you work on, teaching people how to cover you in case you are off all of sudden. request for you to come into... — read more 

New hires, or long tenured employees?

Do you get a 1:1 meeting request?

Be careful, layoffs starting next week

Given that I am excessively anxious and worried, I now interpret almost everything as a sign that I could be a target.

I know that there are those who feel safe in their positions, but it is still much better to be prepared so that you don't end up without your personal items because everything happens very quickly. It is better to have them packed on time. And of... — read more 

I've been with the company for 17+ years, so I'm firmly on the YES! side. How about you?

Poor leadership, unprofitable products, and very bloated at the top!

Technology Executives to 3-4 levels down from the CIO are heavily ex-Lehman and people picked up along the way at Barclays, BoA. FOBs as they are called. And the new CEO wonders why the Total Cost of Operating Tech is so high (hint, do some basic... — read more 

I am interested in whether these will be performance related layoffs or not.

Why didn't the bank offer a voluntary option before layoffs? Judging by this forum, there would be more than enough people for whatever number they have in mind. That would spare some people a mountain of pain and make others extremely happy. Why not... — read more 

Subject says it all. Give your up or downvotes accordingly y’all. Let’s see which direction those votes go.

From what I have heard, it’s going to be a bad day for a lot of people. Whatever your desired outcome is, good luck.

In my experience the absolute worst group to enter/engage in the workforce, possibly ever. They take time off often for lame reasons, believe YOU as a manager OWE them high wages, out-of-sight bonuses, and annual promotions. They have little... — read more 

Anyone else get asked to sign an employee retention contract around October? With the promise of a bonus of 10% of your annual salary. Came with a bunch of stipulations and clauses that would allow them to reduce the amount or cancel the agreement... — read more 

Timing is not ideal because it’s impossible for the Company to predict how many people plan on leaving with their bonus clears but they are required to rightsize the workforce before that occurs (early March). So, that is what creates risk for... — read more 

Am I correct in assuming that I need to wait until I actually receive my bonus before putting in my resignation? Am I in any danger of having it clawed back if I give my resignation in March 1st?

Apparently we now have to supply our own office supplies? Can’t find pencils. Tablets, sticky notes, etc.

Of course there are still many knowledgeable people here, not all of them have left, but it is unquestionable that this is becoming a place for mediocrity. Is it possible to make a comparison of workplace competencies a few years ago and now?... — read more 

When is it due?

This management has ruined this company so much that the entire organization has turned toxic. I get the feeling that everyone hates each other, and there is zero sense of community. People treat each other like they're disposable and not human... — read more