Let us know how you and your team are impacted.
41 replies (most recent on top)
@2ap I had a one off meeting on my calendar today from my boss, and was wondering it it was "the meeting", but not today. Wishing the best to those caught up in today's net. It's not you; it's them. I did learn from someone who works in (not-T Rowe) HR that around the area T Rowe Price on a resume is a positive thing, as this company had such a great reputation for so long in terms of quality. Not the case anymore, sadly, but the reputation outside still stands.
@28n this aged well…
Apparently yes, there were
Any Thursday meetings?
@j8 I always wonder about those business cases and analysis. Especially given all the failed products throughout the years. Appears they just put random numbers to do whatever justifies what they want?
@141 globally clients have a bit of disdain for American firms
@141 so TRP got the worse of the worse? Bottom of the barrel
@141 oh it’s definitely clear that TRP gets the leftovers of people who can’t land a job at more prestigious asset managers with a presence in London/Frankfurt/etc.
@e2 France has arguably the strongest labor laws in the world. That culture and the people it attracts seems to flow through to the global operations of their asset managers. What’s so sad is getting the leftovers from French asset managers like AXA IM and BNPPAM.
@e2 Human barnacles.
@j8 Yes - they come up with failed products and initiatives, they keep their jobs, but to cover it others have to lose their jobs. Maybe outsource THESE roles to Accenture? Can't be any worse.
@ea super manipulative. It’s a key theme with them. Stuff they put in their business cases and internal requests as well are absolute BS. To think of how many failed products they’ve launched and the cost to the business and employees times. Someone else said it here, they say jump and people have to. What a waste of time and resources. I don’t trust them at all and god knows how the he-l they are still in a job.
@e3 oh yes, same deal. And they all cover for each other so anytime someone in the US complains about incompetence over there, they will just reference all the glowing reviews from their peers so nothing ever changes and then we look like the bad guys.
@e2 There are certainly layoffs in London (and will be ongoing). There are more functions that cannot readily be outsourced in EMEA and APAC...but it is happening and will continue.
@e2 have you ever dealt with the Australian office?
@bj OUS workers have stronger labor laws than the U.S., that’s why there are basically never layoffs in EMEA. Meanwhile, I have never seen incompetence like I do in London and European offices.
@bj at least there’s change in EMEA. Same arguably cant be said of APAC.
@dp Good luck today London folks.
@OP Friday morning in London. Will see what the day brings folks. Might be at the pub at 10am instead of 12pm today.
@bg buddy, it’s not just in Tech. OUS is waaaaaay over-resourced and less impacted. Some teams even had headcount increase over the past few years. One sales team in a barely move the needle office OUS had their sales team double. Are they winning? Nope. Are they losing? Massively. What a great way to allocate resources and spend money. Not.
@bc IT associates in countries outside the US are keeping their jobs and their roles aren’t getting outsourced?
@be outside US. You know the people were supporting and giving more headcount and resources to
@bc What is OUS?
@bb why are the tech workers OUS keeping their jobs?
Anyone know of colleagues outside of Tech that got impacted today? Or is it just American tech workers?
@az typically post-selloff. But i think it's open for trade on Monday
@ax So our company stock will go above $103 for a day or two before sinking back down? When does the stock transaction freeze end?
@ar I heard the same.
Funny how this gets announced the day before the quarterly earnings call. I guess layoffs are the best news they have to offer to investors.
@am Heartless? But he did a dramatic pause after each time he said bad news to show us that he was sad. :'(
@am Really sick and twisted way to conduct layoffs for sure. Was it even considered how it would affect the well-being of human beings not to mention productivity for that hour? For that hour, it was literally a cross between musical chairs and the hunger games. I feel bad for those with kids at home.
Enterprise technology services
Evil & spineless way to ruin peoples lives. Chris lepre has proven to be heartless at this point. It’s ironic how people who have zero influence on why T. Rowe is in this position suffer the consequences of T. Rowe being in said position.
@af The last time they cut off entire branches of the tree. There are 114 people on that team...many are very skilled. It would be a shame if the really skilled ones are replaced. Sadly Americans are running out of places to look for IT jobs. I can't believe nothing is done to protect American workers. I wonder if an email will go out later after those meetings are done. It is just a sad day (again).
Anyone know how many people were let go?
@aa Tech Engineering
I have not heard from anyone on my team being affected, unless that invites are late going out. What a horrible way to do this. Why not just involve those affected? Our team didn't get a lot done during the 9am hour due to the stress of watching our inboxes. Why put us through that? Did they not know who would be affected at 9 when the town hall took place? So very cruel to maximize stress for so many.
@a8 Which department(s)?
They scheduled a meeting at 9 AM to announce the layoffs, and we’ll receive an email by 10 AM if we’re affected.
@a4 Both Accenture and TCS.
@a3 Confirmed 10am. Heard, Accenture coming in, we need to train them and then take our package.