BNY Mellon cuts staff, including in Pittsburgh

Bank of New York Mellon initiated a round of layoffs this week — just days into the new year and following a commitment last April not to cut any jobs through the end of 2020 due to the pandemic.

The New York-based bank, which employs thousands in the Pittsburgh region, would not comment on the size or location of the layoffs, or whether more cuts are looming.

“At the onset of the pandemic, BNY Mellon decided to halt layoffs through 2020, which was the right thing to do to support our employees,” a spokeswoman said in an email Wednesday. “However, COVID-19 has redefined ‘business as usual’ and we will continue to optimize our global business structure to increase efficiency, enable faster decision-making and better serve our clients. As a result of these strategic actions, periodic staff reductions may occur.”

The website TheLayoff.com lit up early this week with posts from BNY Mellon employees saying they were let go.

“Pittsburgh, over 50, middle management. Let go this morning at 9 a.m.,” said one. “I wasn’t surprised when I got the call ... kinda expected it.”

Said another poster: “I hope all these snake managers sleep well tonight! So awful to let your employees go after 25 years of service.”

BNY Mellon employed 48,600 people worldwide at the end of the third quarter, according to its most recent earnings supplement. The company declined to provide a figure for the Pittsburgh region.

For the first nine months of 2020, the company reported a profit of $2.7 billion on revenue of $12 billion.

Another poster on TheLayoff.com warned employees to be on alert for an impending layoff.

“Look out for a meeting called ‘catch up’ put in your calendar by your manager.”