As BNY Mellon Cuts 1500 jobs, could mean more Jobs for the Burgh

[CortlandGirl79]

Eiwww........back on topic......

[Battleshipkelly]

They will layoff high cost centers and bring in Insource workers to low cost centers. That is their usual pattern. Why hire people from the US when India is cheaper.

[Blackbeauty212]

Looks promising to me!

As late as Nov. 14, Hassell sounded positive about Pittsburgh. During its Investor Day Nov. 14, Hassell said BNY Mellon plans to place more sophisticated functions in its trio of global growth delivery centers — Manchester, U.K.; Pune, India; and Pittsburgh — and to continue their expansion. But BNY Mellon also plans to shrink its physical footprint and reduce space in higher-cost locations as part of its cost-cutting efforts.

"BNY Mellon has continued to grow in Pittsburgh, adding jobs and strengthening our community commitments," said BNY Mellon spokesman Ron Gruendl. "During the past five years, we have added 1,700 positions -- 250 thus far in 2011. We now employ nearly 7,800 people in Pittsburgh. We also provided $8 million last year in grants, sponsorships, employee donations and company matches to local community organizations. While we look for ways to operate as efficiently as possible, Pittsburgh will continue to benefit from being one of BNY Mellon's global delivery centers."

Sen. Bob Casey seeks BNY Mellon reassurance - Pittsburgh Business Times

[BrianTH]

That's a fascinating trio--I might note one of those is rather closer to NYC than the others.

[Hopes]

I'm a bit taken aback by their saying that Manchester UK is a low cost global growth center. I worked for a British company. Office space is a fortune there too. And let me tell you what "shrink its physical footprint and reduce space in higher-cost locations as part of its cost-cutting efforts" means. I've seen it first hand in NYC and Britain. Cubicals that don't have privacy walls, desks that are hardly big enough for a computer monitors and keyboards, no storage space, almost zero private offices, except for a few the size of closets. We're talking packing workers in like cattle. Worse than anything you've ever seen in any Pittsburgh office. IMO, the best way to shrink physical footprint and retain employee morale is to increase telecommuting, but that's not a concept BNY would ever embrace because its culture is too conservative.

[Tinare]

Originally Posted by Hopes

I'm a bit taken aback by their saying that Manchester UK is a low cost global growth center. I worked for a British company. Office space is a fortune there too.

Manchester is to London what Pittsburgh is to New York in this case.

[wpipkins]

Originally Posted by Hopes

I'm a bit taken aback by their saying that Manchester UK is a low cost global growth center. I worked for a British company. Office space is a fortune there too. And let me tell you what "shrink its physical footprint and reduce space in higher-cost locations as part of its cost-cutting efforts" means. I've seen it first hand in NYC and Britain. Cubicals that don't have privacy walls, desks that are hardly big enough for a computer monitors and keyboards, no storage space, almost zero private offices, except for a few the size of closets. We're talking packing workers in like cattle. Worse than anything you've ever seen in any Pittsburgh office. IMO, the best way to shrink physical footprint and retain employee morale is to increase telecommuting, but that's not a concept BNY would ever embrace because its culture is too conservative.

Corner offices are outdated. When Mellon built the Client Service Center, all highlevel excutive offices are in the middle of the floor. No High Level managers or executives have window seats. This allows natural light to filter through the entire workspace. All employees can view the outside from all areas of the floor. This was a big difference coming from 3 Mellon Bank Center. Our cubicles are larger and allow us to transaform our cube into a meeting space. All conference rooms are located in the halo tower portion of the building and has views of the Grant Street area. During the day, you can hold meetings or conference calls with all natural light.

Decreasing the footprint means getting rid of alot of the middle managers.

[pman]

Originally Posted by wpipkins

Corner offices are outdated. When Mellon built the Client Service Center, all highlevel excutive offices are in the middle of the floor. No High Level managers or executives have window seats. This allows natural light to filter through the entire workspace. All employees can view the outside from all areas of the floor. This was a big difference coming from 3 Mellon Bank Center. Our cubicles are larger and allow us to transaform our cube into a meeting space. All conference rooms are located in the halo tower portion of the building and has views of the Grant Street area. During the day, you can hold meetings or conference calls with all natural light.

Decreasing the footprint means getting rid of alot of the middle managers.

strangely, in my working career, it has been the older buildings that had the most natural light (by older, I mean prewar). they had corner offices but that was it, the rest of the windows were open. back then, they tried to make use of natural light. all the post war buildings (50's to 90's) had mid-level management offices along the walls. in some ways, what is old is new again (except you're saying they've taken it a step further and killed the corner office). still, the corner office wasn't the problem, it was all the other offices. sorry for the tangent. this is all good news.

[wpipkins]

Originally Posted by pman

strangely, in my working career, it has been the older buildings that had the most natural light (by older, I mean prewar). they had corner offices but that was it, the rest of the windows were open. back then, they tried to make use of natural light. all the post war buildings (50's to 90's) had mid-level management offices along the walls. in some ways, what is old is new again (except you're saying they've taken it a step further and killed the corner office). still, the corner office wasn't the problem, it was all the other offices. sorry for the tangent. this is all good news.

Older buildings tend to be Green. The victorian towers have very large windows with the middle sections cut out to allow for natural light.

[irishvan]

Pune is wonderful and the employees get free food during their shift!