The job cuts are viewed as a significant breach of labor relations and human rights practices. The union's call for respectful treatment and thorough consultation highlights a disregard for worker security and fair labor standards, contributing negatively to the company's profile on ethical responsibility.

Announcement by BNY Mellon of 300 redundancies is a body blow to workers, says union

The statement also emphasizes the company's responsibility in maintaining ethical practices throughout its supply chain. BNY Mellon's efforts to safeguard human rights among its suppliers and prevent abuses such as forced labor contribute positively to the 'Supply Chain Ethics' category, reflecting a commitment to ethical sourcing and corporate accountability.

Human Rights Statement

BNY Mellon's statement provides detailed insights into its supply chain due diligence practices, including supplier risk assessments, contractual anti-slavery warranties, and continuous monitoring. This proactive approach supports high ethical standards within their supply chain, reflected in a strong positive score for 'Supply Chain Ethics'.

2023 Modern Slavery Statement

The planned layoffs, targeting management and aimed at cost-cutting and restructuring, can undermine worker security and fair labor practices. From an anti-fascist perspective, such actions may contribute to economic insecurity and weaken collective worker power, which are essential for resisting authoritarian economic control.

Bank of New York Mellon to lay off 1500 employees this year

BNY Mellon's policies extend to its supply chain by requiring suppliers to implement due diligence and enforce practices that prevent modern slavery. This proactive approach in ensuring ethical sourcing and labor practices within its supply chain reflects a commendable level of corporate responsibility.

Modern Slavery Act