Now they've graduated to firing people and forcing everybody out without severance by creating a toxic atmosphere that nobody with any options wants to stick around for. Those who were laid off with severance were among the lucky ones, if you ask me.
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@67n A lot of this is a rehash of what's already been posted on this site. Notice how the layoff patterns follow a consistent quarterly cadence. This is to avoid WARN notices and avoid increases in their State Unemployment tax rates for every employee. See related posts on SUI and WARN on this site as well as the following: https://www.thelayoff.com/t/1kh1xb6ah
There will be a layoff in early March. I am assuming that people will get a severance package in layoff. NJ mandates 1 week per year of service but BNY has been giving 2 weeks. Next layoff will be around June. As someone said, the only thing will stop them from trying to ruining people life is a nice fat class action lawsuit.
I was recently let go from my job after 20 years and was given 4 weeks severance which is what I was at least told is the max now.
My team was told that our business unit would be relocated from Boston to Lake Mary and I had showed genuine interest. In retrospect this was my undoing as I think they just wanted me to leave versus accept the relocation stipend.
This is a lie. Your boss didn’t say that or you weren’t sure what the heck he said
We definitely are overstaffed. What are we even whining about. You all have inherited systems which eliminate virtually all drudgery.
Certainly no reason to complain about the soft work and the hard out the door at three.
There hasn’t been significant layoffs in 42 years. Lighten up and stop whining already.
Nonsense. You were obviously an RTO Refusenik. You were fired for cause for failing to comply to your time in office.
the focus this year will be on consultants/contractors. the 10000 leadership thought included the temp workers but it didnt so it wont be 10000 employees getting cut
@a5 i agree and it wasnt even direct mgrs who changed or entered sh-t ratings. It was next two levels up at minimum without saying anything. Snakes smh and yes bny needs a massive lawsuit on them to expose this sh-t and hopefully stop it. They need one he-l of a wake up call
In 2024 was laid off after 24 years fworking at Mellon/BNY. I received my full year of SUB pay and then took early retirement. I now have a part time job that has nothing to do with finance. I
Love it ! I consider myself one of the lucky ones!
When I was in college, when I tried hard and do good, my professor will give me good grades. BNY treats employees like craap, and force to rank below expectation.
So you saying over 10000 people gone by end of February
Managers were told to give 20+% year end ratings of 4-5 which is automatic termination without severance pkg. There will be some firing in late Jan or Feb. The only thing that can stop them from playing dirty is a nice class action lawsuit.