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Old 01-15-2019, 09:11 PM
gg gg started this thread
 
Location: Pittsburgh
26,137 posts, read 25,845,184 times
Reputation: 17378

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https://www.post-gazette.com/busines...s/201901150104

https://www.post-gazette.com/busines...s/201901150162

What is going on in our region? This isn't really very good.
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Old 01-16-2019, 05:50 AM
 
2,277 posts, read 3,948,415 times
Reputation: 1920
Get ready for the recession
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Old 01-16-2019, 06:38 AM
 
716 posts, read 761,780 times
Reputation: 1013
I can tell you that the BNY Mellon layoffs have been in the works since at least July 2017 when the new CEO took over. There will be over 1000 jobs cut throughout the company affecting the New York and Boston offices too. Pittsburgh will be taking much less of a hit than the other HQs. This has everything to do with the company itself and nothing to do with the region. Source: I do not work there but have several friends who do, one of whom has been laid off so far.
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Old 01-16-2019, 06:50 AM
 
Location: Marshall-Shadeland, Pittsburgh, PA
32,610 posts, read 77,380,477 times
Reputation: 19087
So wealthy corporations received tax cuts and are "trickling down" their newfound good fortunes via laying off the middle-class? Nice!
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Old 01-16-2019, 07:00 AM
 
97 posts, read 99,687 times
Reputation: 230
seems to be all about mergers, then eliminating costs (people)
so that a few at the top can get a $45,000,000,000 bonus.
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Old 01-16-2019, 07:20 AM
 
Location: Western PA
3,733 posts, read 5,943,650 times
Reputation: 3189
Bayer has been scaling back for years, so I wasn't surprised. When the new CEO came on a few years ago and lived in New Jersey, they started transferring a lot of the work over there. They spun off Covestro, which is doing very well and takes up all but two of the buildings on the Robinson campus now. But no doubt that 600 layoffs over two years will affect that area.
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Old 01-16-2019, 08:00 AM
 
Location: Mid-Atlantic
12,529 posts, read 17,479,005 times
Reputation: 10629
I thought Trump was going to bring steel back to Pittsburgh. I was hoping to get my old job back.
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Old 01-16-2019, 08:24 AM
 
Location: Marshall-Shadeland, Pittsburgh, PA
32,610 posts, read 77,380,477 times
Reputation: 19087
Quote:
Originally Posted by Copanut View Post
I thought Trump was going to bring steel back to Pittsburgh. I was hoping to get my old job back.
Wasn't he supposed to bring Joe Paterno back, too?
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Old 01-16-2019, 08:28 AM
 
716 posts, read 761,780 times
Reputation: 1013
Quote:
Originally Posted by SteelCityRising View Post
So wealthy corporations received tax cuts and are "trickling down" their newfound good fortunes via laying off the middle-class? Nice!
You're right, it is BS. I mean a good portion of the reason why some of the departments at BNY Mellon are being consolidated or eliminated is because the work is being outsourced to Asia/India. So much for the tax breaks helping American workers.
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Old 01-16-2019, 08:32 AM
 
2,522 posts, read 2,082,076 times
Reputation: 2299
So much winning...
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