Was approached about a role here but in keep hearing about transformations going on.
What are these transformations trying to accomplish?
Is it Agile, digital, future of work?
Any thoughts?
11 replies (most recent on top)
Yup, definitely agree. PGIM will be all that is left once the “transformation” is over
At an educated guess to aim is to retain PGIM; selling off all other blocks of business.
When all is done the MC’s will have made a ki----g and divulge their holdings and then run for the hills.
Transformation = Huge $$ to consultants for laying people off to pay big $$ bonuses to the senior executives
It's too late, but they're trying to salvage the company. The only workers left are the desperate or the stupid, and VPs. They just love hiring and giving people VP titles. I feel for the desperate - I really do. It's kinda like trying to get out of a mildly abusive relationship. Up until about 2019 there was just enough hope there that things might get better. The 'Transformation' is just an external PR spin on outsourcing to reduce their U.S workforce. Ironic from a company that markets itself as so old and rooted solidly in the U.S.. I survived 5 previous rounds of layoffs and heard countless promises that it would get better - for 10 years. It hasn't, and it won't.
Transformation is just corporate speak for future layoffs.
It's really to send American jobs to India so we cut costs and sacrifice longterm performance. It's all being done so Charlie Lowry can keep his job and $15m/year salary.
No, it wouldn’t be a good idea for anyone. The cultural is horrible because everyone is constantly scared that at any moment they will not have a job. Whether the layoffs affect you directly or indirectly, working under those circumstances is not enjoyable or good for your mental health. Also - under the new promotion policy - you have to apply for a promotion and if you do not get it, your current position is eliminated. Add that to the constant layoff announcements and imagine that being your Monday - Friday....
If the company is getting rid of it's old workforce wouldn't it then be a good opportunity for someone new with fresh ideas hm?
It's a dead cat. Don't waste your time. The company is getting rid of it's old workforce. The environment is not good.
Echoing the first reply because these are facts. Most people are looking to leave the company so would be very careful about joining at this time.
The "Transformation" they speak of is basically MAJOR downsizing and transitioning to a smaller, leaner workforce. Future of Work is definitely a word that the vice chairman loves to use, but that encompasses many things, like remote work flexibility. Transformation basically means cutting costs aka the workforce. I wouldn't touch the company right now with a ten foot pole. You may be safe from layoffs, but they are constant and it has severely affected the cultural of the company and the everyday work environment. I would stay away as they continue to have massive layoffs that will last for a very long time.