If one were to ask to be put on the “list” how long do you think it would take from the ask to the axe?
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I retired from BNY almost two years ago. I asked to be put on the layoff list after 25 years of service. It was claimed that I was on the list, which was confirmed to me by a friend who was a manager in an unrelated department. Layoff after layoff came and went, while I was still employed.
I was retirement age, had Medicare (instead of the company health benefits), and was really waiting to go since at the time SUB benefits were the norm.
I got tired of waiting through a few rounds of layoffs, while I was not let go, so I put in for my retirement. Granted I didn't get any SUB benefits, or anything really - but I had more than enough savings/401k/IRA money to live a happy life with my wife (who retired soon after me).
Strange, since it seems the way the company works now is so much different from just a few years ago, or at least that is my understanding from reading this site.
I haven't looked back and am living a happy retired life!!!!!
Not trying to stir up trouble, just indicating that even though I asked for a lay-off it never came in a timely fashion.
@aj do you mind sharing the decent LOB???
You used to get the full amount of SUB pay, now severance, based on years of service.
Now, in many areas, they mark you down on your appraisal as below to help an imposed below expectations targets because senior managers are too weak to do the right thing and push back, so you will be lucky to get 2 months of severance pay. The cut might be severance if it's in the current year, but if it runs into early next year you won't get a raise and will get your bonus cut by 60 percent.
My advice.. leave on your own terms. don't do it
@ac anyone might think he or she has a good relationship with his or her manager but take it from one who’s been there: your manager could, in fact, be a snake in sheep’s clothing. Beware!
Times have changed.
You ask to be laid off and that’s what you will get. You will be dinged for performance and get no severance. You are giving them an indication you don’t want to be here. They will gladly oblige you and give you nothing. Why would you think this place is going to be so generous to people looking at the door?
Bad idea.
Don’t do it.
@ae yes that is why I posed the questions. I do know a few recently whose LOB acted with integrity and gave severance to those who deserved it after being here for decades. If your line of management is based in the States, you have a better chance. But if you or your manager report into someone ruthless in India, you have no chance.
@ac from what I hear there is always a rolling list and they welcome volunteers. Granted, everyone’s situation and group is different.
I would be careful with this. You don’t know which list you’ll end up on. Do you have a good relationship with management? Will your LOB still provide severance to employees? Or, like mine, do they have a history over the past year of awarding no severance and utilizing the PIPs to release employees with no severance? All business lines are told to reduce expenses. Severance is an expense. If you ask for it, you may not like what you receive. Or don’t.