Thread regarding T. Rowe Price Group Inc. layoffs

@hd They probably have written targets for people who get fed up and quit. They cheer the savings in no longer having to pay that person and not having to pay severance to can him. The intention is to keep laying people off, maybe until enough layoffs and people quitting have occurred. It is likely why they have ridiculous "come in the office" policies. Everyone suffers in this cheapskate model - those pushed out and everyone around them. A resource is lost with valuable information that can now be used at competitors while this company tries to save itself with unskilled labor trained by exiting employees under duress. This has become such a miserable place, that any AMA or Town Hall they have trying to paint this bright future falls flat with many of us.

@en my team is losing someone with 20+ years at T Rowe who knows everything back to front. He told me that he has no idea what they’re doing with the company anymore and jumped ship before it sinks. Really sad to see someone who used to be so passionate about T Rowe turn pessimistic and leave a long career here. It su-ks for our team because we lose THE guy to ask questions to. The knowledge gap we’re going to have is going to be huge going forward.

@e4 ChatTRP su-ks because not a single $ has gone to it in 2 years.

@ek Well said. It’s sad to watch and demoralizing to the staff still showing up 100. There are a lot of talented people around still that know they are likely on a sinking ship. never thought I’d see this happen.

@e7 Yes, to me they were either sold a bill of goods by Accenture or this is some hail Mary move amid outflows to 'sell off' all talent and they feel like with "AI" (in quotes because it still seems they lack vision so it is just a buzz word here IMHO) and these cheapo workers can be coached through "a rebuilding year" and then be world champions. They absolutely devalue what it means to be an experienced professional. There are 2 skillsets at play in life - the textbook facts in isolation and the ability to analyze a situation and pull knowledge from a variety of scenarios and execute a decision. You cannot "train" people without experience to do that.

Put bluntly if I was interviewing contractors to do work on my house, would I want someone holding a brand new tool still in box who needed to stand and watch dozens of YouTube videos to figure out how to get the work done or someone who has well-used tools and who can just grab the materials and tools and just execute the steps? I would not hire any of these Accenture people for much of anything in my personal life.

@OP Next 90 people laid off

@OP Next 90 to sit on the beach and laugh as the company crumbles.

@e4 I agree. but what makes Kiro username effective and accurate is the skill and experience of the user. I have seen it do great things and speed analysis and development in the right hands. I’ve also seen it create a mess in less experienced hands. I think management does not really get that and sees AI and cheap contractors as a genius move. By the time all the talent is gone and productivity halts it will be too late to recover on my opinion. But they don’t even bother to ask us mere serfs about what works and what doesn’t.

@cq on the tech side of the business we've been using Kiro for coding (at least in FOI) and it's actually quite useful (luckily not Too useful so far). ChatTRP does su-k ba--s tho. Rovo's ok for Confluence answers.

Idk ir of how they've been utilizing AI for the actual business though.

Next 90 still feels like a joke, very little concrete there beyond "we're gonna use AI and we're gonna talk to customers"

@cm I guess “leadership through ambiguity “ resonated with you? I’m still wrapping my brain around the idea of being ambiguous being a leadership skill, lol. and yes, I get what they were trying to say, but no, I don’t buy it. Sounds like a way too cover up the idea that there are no specific plans.

@cm This must be RR's secretary or girlfriend. Many of us saw the same presentation and it was just 2 peopel bloviating about a vague path to "success" using foreign slave labor that they do not have to provide benefits for nor follow US worker protection laws and how "AI" will make it all work. Have you used chattrp? It is awful. Maybe an intern wrote it.

@cm Who forced you to come to layoff.com and find the T Rowe section and then see this post and reply to it? It amazes me how many comment sections of articles and social media posts have replies where some Karen appoints themself site moderator and feels it is their duty to chide others for exercising their own free speech.

If anyone here feels so safe and secure in their job here at T Rowe that they will work here another 30 years and ride this "AI" wave to great wealth, good for you - why are you coming to a layoff site when you obviously won't be affected by any layoffs. If this stresses you out so much - maybe put on some cartoons and pop an edible.

@cj I was on a meeting the day before where a meeting pulse question referenced a "e-learning on writing clear instructions for foreign workers." So maybe the 90 days is to get management trained on how to talk to dummies overseas and have them "transform the company". Anyone who is not seriously looking for a job right now who is not in their "in crowd" is a fool. I used to think it would be "hard" to replace our team too...and they are not looking to make these people as good as existing Associates....only "good enough". Not sure how this would help any business, but I just think they are stripping down to a disposable contractor workforce to be more attractive to sell. If this is their long term plan and no sale is planned they're delusional.

Seriously? Can you stop trying to drag the rest of us down? I for one appreciated hearing from RR and AR and I’m on board. Corporate life is stressful especially for individual contributors like myself and yes, outsourcing feels awful and im so sorry for those affected and their teams.

But, this is the reality of corporate life, not specific to TRP. I’m staying engaged and learning as much as I can while I have the privilege of being here.

Is this an IT thing?

It's playing to win and the only way to win is by being physically present in an office building, noodling away at the next genius product that has no interested client. You're winning if you're sitting on Teams meetings all day in a cubicle with a room of 40 other people who are also sitting on Teams meetings, collaborating like MF CHAMPIONS while entire departments are offshored and human interaction is automated away. If you want to be the most winning winner of them all, use Copilot to edit your emails for tone, because being an AI native powerhouse means using that tech to its absolute fullest potential. Go on, 10x that tone edit and flex that Copilot prompt muscle. This is what it takes to win, what is necessary to keep an obsolete mutual fund investment manager relevant for 90 years more.

It's wild how insanely d-mb TRP has become and it's all from the very top down. What a sad unrecognizable husk of a once great company. Stop going to Next 90 meetings, there is nothing of substance coming out of that circlej--kCollect your paycheck while doing the absolute bare minimum and keep those fingers crossed for a decent package out.

i mean I read all of the faqs, strategy documents, etc. a lot of words that convey almost nothing.

90 days to gtfo