Thread regarding Prudential layoffs

McKinsey may be running the company

Saw they settled for over 500M to settle claims as part of o—id crisis....brilliant decision by management to bring them in.....good luck

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Post ID: @OP+19gDtFdJ

18 replies (most recent on top)

any news on the sale of the Retirement business?

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Post ID: @1Eaeq+19gDtFdJ

McKinsey has been hired because the Senior Leaders either are incompetent, have no spine or both.

Wait till they hire former consultants into full time roles. That is the nail in the coffin for the culture, and the final straw that you need to get out if you haven’t already

All McKinsey will do is gather some data, make wild assumptions to make benefits of their recommendations look great and stuff it into a fancy canned deck that they use for all their clients. Then they leave, then when what they proposed doesn’t work out and actually makes things worse and harder to fix, “leadership” ( using that word loosely) will hire another “big name” management consulting company to do something similar but will rebrand it to the fancy buzzwords at the time

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Post ID: @1kyvj+19gDtFdJ

Pru is a dysfunctional place. They literally have groups that do not have actual jobs, they survive by latching on and injecting themselves into actual work teams and presenting themselves as SME's. It's shocking to see people with job titles and absolutely no idea what they are doing. This is why McKinsey has been hired. Many of these people are in for a rude awakening when they have to find a new job. Good luck with that!

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Post ID: @Noyr+19gDtFdJ

Transform is BS speak for shipping your job to India, + chatbots and AI

Spend hours looking around this layoff board at other companies. Transformation = layoffs and outsourcing. McKinsey needs your salary.

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Post ID: @Nela+19gDtFdJ

@Mrem+19gDtFdJ: You are spot on. I would add that they make you work 10 to 12hours a day do they can pay management consultants like McKinsey to do their job for them...So the leadership can collect their large compensation packages to do nothing and make terrible or no decisions. Oh don’t forget the Board too, they are just as bad.

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Post ID: @Mlhs+19gDtFdJ

When I first joined Prudential about 5 years ago, I actually believed they were an ethical and moral company that cared about their employees. This "transformation" has shown that could not be further from the truth. I am disgusted they would hire a company like McKinsey after the o—id settlement. Especially since Pru is based in NJ, where o—id addiction is out of control. No one I know has NOT been affected in some way, shape, or form by the o—id epidemic in NJ. And their response? Oh the team we work with is great. What the actual f-ck. And that, people, tells you all you need to know about the current leadership team at Pru.

Everyone at work, literally everyone, is overworked and tired. And they are STILL laying people off despite the fact people are consistently putting in 10-12 hours days because they don't have the resources they need to get their jobs done. They spout work-life balance but are not practicing what they preach. How do they expect people to work better, faster, and more efficiently and not provide us the resources to get to that final state? I can't sit here and figure out ways my team can be more efficient because I'm barely keeping my head above water with my regular work.

To anyone considering a career at Pru. Don't. They tell you everything you want to hear but don't actual put it into practice. When they say they want high capacity performers, what they actually mean is they want people who will happily slave away to get the work done.

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Post ID: @Mrem+19gDtFdJ

I heard there were 400 cuts across GT.

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Post ID: @Lupw+19gDtFdJ

@Kdps+19gDtFdJ- They are here to layoff people plain and simple. It is well known that management consultants put “strategies” to lay off and outsource work to low cost locations. They charge a ton of money for it, put together fancy decks, then leave to the next s—er leaders of the next company. Then leadership will bring in a new management consulting company and do something similar.

This is all because leadership can’t do their job, yet they lay off everyone else to make sure they get paid at the expense of good employees and even customers

Just think the leader of Enron was a McKinsey partner I believe. Look how that worked out...They settled for almost $600 million for their sales advice they gave to d–g maker of O-yco–in.....From a NY Times article this year “ The settlements come after lawsuits unearthed a trove of documents showing how McKinsey worked to drive sales of Purdue Pharma’s O-yco–in painkiller amid an o—id crisis in the United States that has contributed to the deaths of more than 450,000 people over the past two decades.”

I would not put any faith in strategy from them...

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Post ID: @Ljcc+19gDtFdJ

There were layoffs today in Global Technology in GBAM.

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Post ID: @Kvdz+19gDtFdJ

I think you may be right. McKinsey may be here to cut jobs. I agree with the poster that they are known for turning businesses around, but I think it we will see layoffs firs.

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Post ID: @Kdps+19gDtFdJ

Right, they are here to do layoffs period. Yet get paid a lot of money to do so. Their website is just going to have propaganda to make their poor recommendations look good...so they sell it to other bad leaders at other companies....

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Post ID: @Giya+19gDtFdJ

Right, they are here to do layoffs period. Yet get paid a lot of money to do so. Their website is just going to have propaganda to make their poor recommendations look good...so they sell it to other bad leaders at other companies....

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Post ID: @Getv+19gDtFdJ

Speaking from experience, McKinsey will make recommendations for long term business strategies, 5 to 10 years out. They are not here to do a short-term layoffs. The current business structure will have to change to meet the future business structure. The plans will require BOD approvals. I would recommend you go to McKinsey's website and read their case studies.

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Post ID: @Gglv+19gDtFdJ

McKinsey in means longtime good employees are out. This so the “leaders” can pocket lots of comp

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Post ID: @Fwfo+19gDtFdJ

If they are in your company to do “Transformation”, they are running the company, most of us know that...person that posted that they aren’t must be a “woke” individual.....

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Post ID: @6hdu+19gDtFdJ

LOL, McKinsey is not running PRU.

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Post ID: @3sia+19gDtFdJ

Is there a problem to the employees?

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Post ID: @rql+19gDtFdJ

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