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dank8844 t1_j6kow7e wrote

Reply to comment by chippyinairplane in BNY Mellon takes unusual step in overhauling its 401(k) plan by Jumpy-Natural4868

The bank does. So they actually save money by utilizing this method

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ArgyllFire t1_j6lb0ni wrote

Yeah so additional fun facts: a number of years ago during the last economic downturn the bank decided to only provide raises the following JULY as a "special" cost cutting measure. So it's EOY, you do your review process with your manager. They tell you what your raise will be 7... Months.... From now.

They left this in effect for years. They finally stopped like 2 years ago and started giving us raises in March. Now this 401k fuckery.

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dank8844 t1_j6le4a7 wrote

It amazes me how much places like to screw with employees and then scream how people aren’t loyal to employers anymore.

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