Layoffs, Stress and Anxiety - Never know when you will into firing line - Anonymous employee BNY Employee Review

1.0
3 Mar 2024
Anonymous employee
Recommend
CEO approval
Business outlook

Pros

The company offers competitive salaries and, for those who maintain close relationships with their managers, the potential for significant bonuses. This aspect of compensation is certainly on par with, if not better than, what many mid-sized companies provide. Additionally, it serves as an excellent learning environment for employees at various stages of their careers. The opportunity to acquire new skills and knowledge is abundant, making it an ideal place for professional growth. However, it's worth noting that the distribution of bonuses can sometimes reflect a bias towards those with closer personal connections to management, rather than being entirely merit-based. This observation suggests an area where the company could strive for more transparency and fairness to ensure all hard-working employees are recognized and rewarded equally for their contributions. Given these dynamics, my advice to current and potential employees is to focus on personal and professional development while remaining vigilant about the broader workplace environment. It's beneficial to always be open to new opportunities and to continuously expand your skillset, ensuring you are well-positioned for whatever the future may hold in an ever-evolving job market.

Cons

In the face of organizational restructuring and leadership changes, the company has embarked on a series of layoffs that have raised concerns about the criteria and processes used to determine who is let go. It appears that the selection process lacks transparency and may inadvertently prioritize factors such as race, diversity and age, particularly affecting those over 40. This approach seems to narrow the pool significantly, resulting in the departure of many dedicated and motivated individuals who, after passing through these filters, find themselves without a role. The impact of these decisions not only affects the livelihoods of those let go but also sends a disconcerting message to the remaining employees about job security and the value placed on loyalty and hard work. Additionally, with the arrival of a new CEO, there has been a noticeable trend of hiring managers based on previous connections, further exacerbating the feeling of instability among long-standing employees. This practice seems to underscore a preference for new affiliations over established experience and contributions, challenging the notion of meritocracy and long-term career development within the company. The manner in which layoffs have been conducted, coupled with observed behaviors from some leadership figures during these rounds, notably smirks or smiles, further diminishes the trust and morale among the workforce. Such behaviors, whether intentional or not, can be perceived as a lack of empathy and respect for those affected by layoffs, contributing to a culture of fear and uncertainty. For those considering joining the company, it's advisable to stay informed about its culture and policies, and to continuously seek opportunities for learning and personal growth, keeping in mind the dynamic nature of the current job market

Explore other reviews about BNY

1.0
28 Apr 2026
Recommend
CEO approval
Business outlook

Pros

Job only as good as immediate manager. Salary is Ok ish Benefit options are ok not great.

Cons

1) Retaliation is a way of life at this company going back to 2018 and becoming worse since 2) Mid level managers are very efficient at passively insulting the Teams they are responsible for. 3) It is nearly impossible to advance in the company. 4) When you try to post to another department - your Mid level manager will do the best to stop you from advancing. Some have close friends in HR that will even have you submit a new application in an attempt to accuse the other department of recruiting you. I have experienced this. 5) The only way to increase pay and experience is by leaving the company. 6) It use to be a culture of lets help others when there is a problem, now it is lets find who to blame for upper mangers rushing a project before all risks are identified. 7) If you are taking a new Job - professionally push for higher Salary once you are in raises will be very small.

5
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