BNY CEO Robin Vince said the bank is currently in aΒ "recharge period" until 2025.
Employees at the finance giant are encouraged to focus onΒ "core business activities."Β
The move is part of a larger push by the bank to provide mental health support to its workers.
The CEO of Bank of New York Mellon Corp. says it's OK to be more laid back at work during the last weeks of the year.
Robin Vince, who also serves as president of BNY, announced Monday that the bank is bringing back its end-of-year "recharge" period for its employees.
Beginning December 23, a spokesperson told Business Insider that BNY employees are encouraged to narrow their focus to client andΒ core business activities, postponing more routine items until the New Year.
Non-essential activities, like internal meetings, work that isn't time-sensitive, and in-office requirements, will be paused until January 3, they told BI.
In a LinkedIn post, Vance said he's "missing the free Starbucks at our global HQ, but it's worth it to be able to spend more time with my family, all home together, while taking a break from the more routine work to really focus on what matters for clients and driving our company forward these next two weeks."
Vince told Fortune in June that BNY asks employees to be in the office "more days than you're not." BNY first introduced its two-week recharge in December 2023 to allow employees more time to focus on family than non-urgent work tasks.
It's part of a larger push by the bank to improve compensation and benefits for its employees. BNY announced Thursday that it'd increase the minimum hourly wage for US employees from $22.50 to $25, starting March 2025.
This year the company also partnered with Spring Health to bring more mental health services to employees and their families.
"We want talent to feel appropriately compensated and enjoy an industry-leading employee experience β and benefits are a part of that strategy," said Shannon Hobbs, chief people officer at BNY.
The Financial Times, which first reported the EY firings, referred to these instances of being dismissed for minor offenses as "stealth firing."
Joe Galvin, the chief research officer at the executive coaching platform Vistage, told Business Insider that this sneaky sacking is "a "covert behind-the-scenes activity" that "violates the principle of respect for the individual."
A corporation might think: "I'm trying to downsize a little bit without saying I'm downsizing a little bit," Galvin said.
"So you go through this process that does nothing but break trust."
Short-term gain for long-term problems
Stealth firing leads from an era of "quiet firing," where companies methodically made employees' roles increasingly uncomfortable and less appealing, such as implementing strict return-to-office mandates.
This trend, along with the quietly agreed-upon severance packages of "silent layoffs," is a tactic to avoid the optics of publicly cutting dozens of staff.
Cynthia Patterson, the founder of the HR consultancy firm PeopleOps.how, who has 20 years of experience in HR across tech, AI, healthcare, and retail industries, told BI that while quietly trimming headcounts in these ways may work in the short term, they can cause serious issues for a workplace.
"Any short-term outcome is offset by the negative cultural impact," Patterson said. "Employees are left second-guessing their own value and stability, creating an environment of anxiety and mistrust."
"This dynamic mirrors the patterns of toxic and/or abusive work cultures, where fear and uncertainty are used β intentionally or not β as tools for behavioral control," Patterson said.
A shift in power
People are also perceptive, and employees who see their colleagues be shown the door for minor indiscretions will only make them wary and dissatisfied.
Patterson told BI companies who push people out in arbitrary ways are mistakenly viewing avoidance as kindness.
"Employee performance management is part of running a business," she said. "And it can't be skipped because it feels uncomfortable or inconvenient to the employer."
Stealth firing, Patterson said, simply exposes a company's inability or unwillingness to have honest, necessary conversations about performance β and "signals to employees that the organization doesn't have integrity."
Galvin told BI that companies willfully harming their reputations in this way may find they are the ones suffering and bleeding talent ifΒ an era of revenge quittingΒ hits in 2025.
"The signs are pointing up toward a really strong 2025 β our community is energized, hiring's going back up again, investments are going up, expectations for profits and revenues are up," he said. "The power shifting."
Weigh up your options
It's always a smaller world than you think when it comes to work and looking for your next job, Ciara Harrington, the chief people officer of the leadership training platform Skillsoft, told BI.
"It's in the interest of everybody to keep good relationships," she said. "I don't think anybody really wants to leave a company on bad terms."
Sometimes, companies have to let their staff go, and the best thing for everyone is to do so with respect and honesty. That way, while the news isn't what the employees hope for, they still maintain a level of respect for the company.
The alternative is that employees post on public platforms such as LinkedIn, TikTok, Reddit, and job review sites about their negative experiences, such as how they felt undervalued and lied to.
Patterson said these stories could reach future employees, customers, investors, and even employment lawyers, opening up companies to potential legal disputes.
"Strong companies know their employees are human beings and deserve to be treated as such," Patterson said.
Galvin told BI that if there are signs that your company is looking to stealth fire you, it's time to start weighing your options.
Even if your employer isn't planning on firing you, if their communication is poor, and you feel unsafe, it's best to get out anyway.
"In the absence of a story, we create one," Galvin said. "If you sense that's happening to you, you either have the direct conversation with your manager or start looking for your next job."
Greg Mansell says some employers are scrutinizing accommodation requests amid rising RTO mandates.
Mansell says the process can be stressful for disabled employees, leading to some job resignations.
Mansell advises employees to use their primary care doctor instead of a specialist to file requests.
This as-told-to article is based on a conversation with Greg Mansell, 40, an employment lawyer based in New York City. It's been edited for length and clarity.
Requesting an ADA health accommodation should be a collaborative process between the employer and the employee in which the main goal is to provide a medically necessary accommodation that doesn't place an undue burden on the employer.
With the rise of RTO mandates and the subsequent increase in work-from-home accommodation requests, some employers are elongating the process and scrutinizing requests more thoroughly. I believe this is to ensure employees aren't abusing the system.
Unfortunately, increasingly drawn-out and laborious processes can put added stress on disabled employees and, in some cases, may influence them to walk away from a job.
As an employment lawyer of 15 years, here are my tips for employees to overcome four hurdles in the accommodation request process.
1. Don't wait for your specialist
After an accommodation is requested, employers may ask the employee's medical provider to fill out an accommodation request detailing the underlying impairment, the restrictions it imposes, and the requested accommodation.
The employer may want the request filed by a specialist if the patient sees one, but these doctors can be hard to get a hold of. I remind people that their primary care doctor has access to all medical records and can provide the same information. It doesn't have to come directly from the specialist's mouth.
2. Prepare the request for your doctor
Some doctors simply don't like dealing with the employment process, so it can be helpful to take the burden off them in any way possible. It may be useful for the disabled employee to prepare their own accommodation request and present it for their doctor's review.
The doctor may approve it or change it for accuracy, but it makes the process significantly less taxing for the doctor.
3. Consider consulting a lawyer
The Americans with Disability Act is one of the most complex employment laws, so employees and medical professionals may make mistakes that lead to a wrongfully denied accommodation request.
For example, the medical professional may not specify the medical condition and, instead, state only that an employee needs an accommodation. This does not give the employer sufficient information to determine if the accommodation, or some other accommodation, is medically necessary.
Employment lawyers understand the process and can make sure an employee provides everything needed and hold the employer to the ADA's requirements. The downside, of course, is that this is a time-consuming process and the attorneys' fees can become quite expensive.
4. Document everything
If you consult a lawyer, it's helpful to have as much documentation of the accommodation request process as possible. Documentation helps us determine whether the employer followed the proper procedures.
You can't force an employer to have a conversation through email, but you can and should follow up any virtual or in-person meetings with the bullet points of what you discussed as a way to memorialize the conversation.
If you're going through the accommodation process amid your company's RTO mandate and would like to share your story, please email Tess Martinelli at [email protected].