Thread regarding FactSet Research Systems Inc. layoffs

Office Closures Next?

Cuts in Engineering, and now office closures?
Austin, LA, and now Charlotte. What is happening in this company?

Layoffs and office closures are not the best signs for a “growth” company despite how CEO frames it.

The message should come from ELT/CEO …not head of facility/office manager.


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Post ID: @OP+1kyakv9gt

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Is the office closing related layoffs the same batch as the June layoffs or not? Are they only engineers like the June batch?

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Post ID: @f1+1kyakv9gt

@aj potentially more closures in Americas.

They will not reopen LA. They will remove all small/remote offices. Probably next is Europe or if anything in Asia.

America is tough - morale is gone

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Post ID: @en+1kyakv9gt

@ag agreed - they are making all these decisions without consulting with any of the managers or leaders.

Reorg on products was a perfect example.

Closing offices is another.

Getting laid off is a gift at this point.

Employees have gone through so much since 2020.

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Post ID: @aj+1kyakv9gt

@OP I don't think the set has been in growth mode for a while. The firm is in that later stage of life where you have to manage to margins. It su-ks. Its not fun, but its not going bankrupt. It will just continue to chug along. Lots of overpaid executive outsiders will come in - with no understanding of the company or the culture - and just kind of make a mess of things - and then move on. Its just how its going to be from now on.

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Post ID: @ag+1kyakv9gt

@OP I'm not sure LA is closing. The building management for the LA location was closing down that office and was separate from the other office closures. From what I've heard, they are actively looking for a new spot but may end up "searching" indefinitely given the recent news.

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Post ID: @a3+1kyakv9gt

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