Thread regarding Bank of New York Mellon Corp. layoffs

but do we get severance?

How many times do we have to go through this?? There is no severance, there is SUB - supplemental unemployment benefits
which is calculated at 2 weeks per year of service (subject to minimums and maximums) but you can only receive this for as long as you are eligible - which is 2 weeks/year BUT once you get a new job, even part time, the payments are discontinued - even if you find one in 3 weeks..
Supplemental Unemployment Benefit is NOT the same as severance.

Should you choose SUB or severance and what are the relative merits of the two options?

are you saying the "SUB" was the 2 weeks year of service PLUS the bulk amount of weeks determined by level (I, J,K,L.M etc).
I had thought it was one or the other, whichever is greater. not both added together

So what are pluses and minuses of sub vs severance and were you able to pick the severance or was it because of your grade?

In reply to @12WgMefz-3ouz, who wants to argue semantics about "severance". My severance package said "severance package" at the top of it, the HR people I spoke with called it a "severance package". You get 2 weeks for every year of service, plus a bulk amount of time based on the "level" of your position. Could be 3 months, could be 5, could be 1 or 0.

Or if you're the former CEO you get a lump sum of 15 million dollars plus stock options for voluntarily quitting.

Replying to: 'So, for all that said the rumors of layoffs was just a rumor, have you rethought your stance?'

Of course not! They are trolls themselves for saying that.. Pure D-bags! No respect for them at all.. I got laid off on Wednesday Jan 15. I spoke to people who called me afterwards to tell me what they heard/seen/know. said 6 others were let go in addition to me at Pershing at one location on that day and that more were coming.

So, for all that said the rumors of layoffs was just a rumor, have you rethought your stance? Layoffs have happened and may continue this week and in February. I think you us all an apology for calling us trolls. When you don't know something for certain don't doubt those who may.

Laid off this morning - Pershing
More coming..

Who cares as there are no more layoffs. Nobody layed off today

In the U.S. the company does not pay “severance”, which is a payment you receive in full, even if/when you get a new job. They do pay supplemental unemployment benefit which is calculated at 2 weeks per year of service (subject to minimums and maximums) but you can only receive this for as long as you qualify for unemployment. Once you get a new job, even part time, the payments are discontinued.
Supplemental Unemployment Benefit is NOT the same as severance. Please read about the plan if you are not familiar.

I know many people who have had severance. Let’s please try to be accurate here.

How many times do we have to go through this?? There is no severance, there is SUB and the details are on MySource.

what is the standard sevrance package if laid off?

Why would anyone want to work at this company?

Rumor also has it that senior management are going through people's coat pockets stealing loose tick tacks, pennies and c-gare–es when they bring one's personal item to HR!

Once again BONY employees have been proven s-pid, these days there are auto-completion and a mistake happens, but why so much energy spent on things that are common sense to anyone. If you get BE, start focusing your next step, which is to edit resume, publish yourself in job portals.

The sad part is that people who say “People who says there will be lay-off are actually trolls and id-ts cause you have been proved in the past. This is one smart way of BONY to make people work longer hour and harder without complain. You complain and get BE, more complain get out... a clever tack ticks for stupid employees” express their ideas even more incoherently in their code, a neutral and background agnostic language test of logical thinking.

I too like Tic Tacs however.

i dont know why people think layoffs are a lie...this is the exact same pattern as last year. same fools thought the december layoffs was a lie too.

I think it's obvious there will be reduction of staff as they automate functions. But I'm beginning to think this site is a scam and all these sky is falling posts are there to boost their traffic for advertising dollars. Just saying. And if I get canned I'll find a better place to work. Outside of banking, this biz is dead.

I live chewing on tack ticks for a fresh peppermint taste....

I'm sorry but you can't say "tack ticks" instead of tactics and then call other people stupid...

People who says there will be lay-off are actually trolls and id-ts cause you have been proved in the past. This is one smart way of BONY to make people work longer hour and harder without complain. You complain and get BE, more complain get out... a clever tack ticks for stupid employees...

Next week is true. I don’t know how many but am in a position to know definitely of one. Hope the volume overall is tiny.

Eh... more posts and fear mongering than layoffs. If these “insider posts” were accurate then we would have all been long gone 2 or 3 years ago and Technology would be halved to 8,000 instead of increased.

These people need to put up or shut up IMHO.

Where?? Evidence?? Wow..
These layoffs are never announced or posted in the elevators. In fact, they never have been. All previous layoffs happened without an announcement, they just happen. You know by reliable sources and increased chatter.

Those of you that are saying it's not happening are either trolls or id–ts. I know for a fact there are layoffs next week because I have more than one.

Yuh, just not happening.

• Jarrod

I can confirm layoffs Monday- Wednesday next week. 100%

This is absolute BS. Don’t ruin your sleep folks!

Layoffs next Monday?? Where?? Evidence?? Hard to believe a word on this site.

It's not quiet if your working there. I heard it at least 5 times from reliable sources along with whispers from people walking by...

For the person who replied "Jarrod has confirmed..." its spell check acting up Jer*Off...stop being an A-hole..would ya please?!

People are going to be laid off.. some people welcome it but not all...I was talking to someone who undeservedly got a BE and she was balling saying that she was extremely nervous..
So please give it a break...D-bag..

I haven't heard anything. I would be shocked they could keep it this quiet this close

This is actually true. I’ve been asked to assist in gathering items on Monday for someone whose manager is in India. I think I’ll be next since I also got a BE for the first time in my 25 year career.

Jarrod has confirmed that it is the usual #FakeNews and that he is “definitely not happening”...

Rumor has it that layoffs are happening the week of January 13