Was his new shifty eyed CFO in attendance!? He always looked like a hostage at BNYMellon town halls 😎😷😷😷😂
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@yyj You said it perfectly bubba.
He didn't even acknowledge that people were laid off yesterday.
So much for candor
It beats pre-covid when they packed us in the ol' auditorium and we bobbed
our heads and clap at every thing he thought was an accomplishment...
When has anything noteworthy ever been communicated at a TownHall meeting? They are worthless timewasters. At least we get paid to sit and listen to nothing.
The very last question around layoffs and the impact to morale, which is literally the ONLY reason anyone tuned in, was answered with (paraphrasing) "we'll let you know as soon as we decide to lay you off, and will help you in your transition however we can".
In other words, nothing changed. Morale and productivity will continue to be in the toilet until wider spread plans are announced further in advance.
WF probably thinks that announcing layoff plans too far in advance will ruin productivity and morale, but there's no way either of those could be any lower right now. The bank has everything to gain by being much more forthright about what the future holds for each LOB.
Until then, the utmost bare minimum it is.