Thread regarding Prudential layoffs

Market Competitiveness

Any idea on what’s going on this this? It’s been several months since we’ve heard anything about it, and they said by the end of summer we should hear something…

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Post ID: @OP+1osR8ZZb

120 replies (most recent on top)

More layoffs happening today.

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Post ID: @32rxo+1osR8ZZb

How can they continue to do this? We just had our last minute meeting - after some of us were told we were safe, they said that was premature and that the next 2 weeks would be turbulent. Yet they think THIS is the way to get people back into the office AND have them be productive? Who does this? McKinsey su-ks but they offer suggestions and someone at the top has to approve. This is absolutely disgusting and just has to be illegal. I don't get it. Not another peep on numbers through WARN but they are brazen enough to state there will be more. Any attorneys out there?

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Post ID: @2Auhy+1osR8ZZb

Think feb 15

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Post ID: @2xmsb+1osR8ZZb

Next round in Feb/Mar.

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Post ID: @2wgsf+1osR8ZZb

To the poster who asked if Charlie is leaving, he's Not leaving Prudential. He's crazy glued his A$$ to his throne like Chairman Mao Zedong who was in power for 47 years! Prudential is antiquated and out of touch with reality, Not just technologically but also in terms of corporate policies, how to do work and culture. It's replete with old white men who are stuck in the 20th Century, over 20 years ago in their thinking, beliefs and how they should "run" the Company. Prudential is definitely Not doing DEI or ESG.

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Post ID: @1Xcra+1osR8ZZb

Just curious, if get laid off in January, do they still get 2023 bonus?

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Post ID: @1zhrr+1osR8ZZb

Just tell them now so they can prepare. Chances are you’re also on the list.

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Post ID: @1zubv+1osR8ZZb

I am so glad to have found this forum. the execution of MC has been a really frustrating experience. Just when I thought it was bad, the next phases seem even more rubbish. I’ve been instructed not to inform my directs and colleagues about upcoming changes, including layoffs planned for January. This secrecy is challenging for me, especially as they continue their usual work, unaware of what’s looming. It’s a situation that weighs heavily on me. Is anyone else experiencing something similar? How are you handling it?

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Post ID: @1zkcp+1osR8ZZb

what goes around…

McKinsey Cuts New Partner Class by Roughly 35%

The closely held firm named its new class of partners, and the group is roughly a third smaller than usual, according to people familiar with the matter, in the latest sign that economic conditions have dented demand for high-price consultants.

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Post ID: @1urie+1osR8ZZb

I hope there's a class action lawsuit. Their handling of this is atrocious and totally unprofessional. So much for years of loyalty.

I'll be getting my hair cut on their time. Looking for work? Their time. Riding my bike? Their time. Hiking? Their time. Gym? Their time. And they can take their teams and shove it. I will be MIA every single day until they let me go. My computer will not work. My screen will be blank. I won't have access to audio. And I'll return calls when I'm good and ready. I'm done.

If you don't think I can do my job, well then I won't.

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Post ID: @1uccv+1osR8ZZb

Elephant in the room. When are changes happening at the top? When is Charlie leaving?

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Post ID: @1ukxk+1osR8ZZb

Any positives of this programmme has been undermined by the poor execution and communications of MC

“Standout examples of in-house lawyers’ work

Case studies in best practice among general counsel and company legal teams in North America

Prudential Financial
O: 7; L: 9; I: 7; Total: 23
The US insurer’s general counsel, Ann Kappler, leads a mental health and wellness programme for employees. An initial focus was to use open forums and talks from experts to help remove the stigma around talking about mental health problems. Employees can now access up to $1,000 a year to spend on wellness benefits, such as mental health services. In addition, managers will be assessed on how they support wellbeing in their teams.”

https://www.ft.com/content/e7abfd36-600a-481c-ab21-5e970a34670a

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Post ID: @1tfku+1osR8ZZb

If there's still no WARN notice this could mean Prudential will layoff below the minimum number of employees that tr!ggers a WARN notice for the location. For example, if the legal minimum is 100 employees for the location or state, Prudential could be laying off just under that number at 99 or 98 so that it does not need to pay WARN money.

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Post ID: @1spxw+1osR8ZZb

Still no WARN notice?

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Post ID: @1sslv+1osR8ZZb

Hearing decisions are already made or close to final but HR/SLT don’t want any communications before jan.

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Post ID: @1qiku+1osR8ZZb

Any other rumors about how the rest of the layoffs are going to pan out?

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Post ID: @1omfw+1osR8ZZb

Was there a note telling employees not to post?

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Post ID: @1cqiw+1osR8ZZb

If Pru-Bull-Polite fires you for exercising your Labor and Constitutional Rights, sue Prubull into Bankruptcy and drag its name through the mud, media and Courts. Then with the money you'll get from Prubull start manufacturing the Prubull beverage like Red Bull. It will be the Anti-Pru-Bull-Polite po!soned Kool-aid.

Did Prudential Pru-BullSh!t-Polite send out emails warning employees not to post comments online?? Just FYI, there is nothing illegal nor proprietary in sharing work experiences online, you can't be fired for that. It's called NLRA, First Amendment Rights, Labor Rights, Constitutional Rights, protected speech (Google it), meaning - employees have the right to discuss their wages and work conditions with each other (both in person and online), and employers are prohibited from interfering with, restraining, or coercing employees in the exercise of these rights.

On top of that, in Feb this year NLRB issued a decision which forbids companies to demand silence from laid-off employees through confidentiality provisions in their severance agreements.

Just don’t post something considered illegal (like threats, violence, some trading secret), and you are good.

But the other posters are right when saying the posts should stay vague enough to minimize the risk of being identified - just to stay on the safe side, cause they could find some other lame excuse to make your life miserable if they want to. I would also strongly advise avoiding using corporate devices when posting online, and the use of some VPN service to hide your IP.

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Post ID: @1cpzf+1osR8ZZb

So potential employees and current employees-svckers need to wait 10 years for Newark, NJ to be like Brooklyn, NY or have less crime and Not dodge bvllets ? Potential employees are better off Not applying for jobs at Prudential at all and current Employees should quit or pray to get laid-off to save their lives. It's Not worth risking your lives to work for Prudential.

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Post ID: @1avpf+1osR8ZZb

Thank you Prudential's "Human"Resources department or Exec "Management". So hard to identify. (extreme sarcasm) LOL ! So HR's Poster ID @1alwr+1osR8ZZb is calling employees being laid-off as dead wood, trash to be discarded. This is why this layoff site exists and posters on this site are trashing Prudential's "culture" and BS Pru-Bull disingenuous fake Pru-Polite. Employers and Pru are "polite" until they throw out employees like trash dead wood as you called them. As others have posted Good Luck with talent retention and morale. The first employees to quit, top performers, are the ones with options because they have in demand skills and knowledge. Prudential obviously doesnot, cannot or refuses to read or hear the news reports about the rampant crime in Newark, NJ and surrounding neighborhoods. Poster ID @1alwr+1osR8ZZb also admitted that Prudential needs to have its own Police Force to escort employees to and from public transportation and to their cars, and also Shuttle buses in the morning for a 20% of one mile 5-minute walk to the Pru office buildings. This is extremely expensive. Very, very, very few employers if any have this service and unless the Employer is in a dangerous neighborhood. Anyone, any posters can Google all of this plus about the tetanus diseased Newark, NJ water worse than in Flint, Michigan and find out it's all true. For decades, Newark, NJ has always been a crime ridden W@r Zone. Employees will be lucky to save their lives and get the Lay-Off emails.

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Post ID: @1axln+1osR8ZZb

To the person complaining about Newark- There are no bullets flying around in the Central Business District. Newark is the next Brooklyn. Read this post in 10 years and you will say to yourself yes that anonymous guy was right. Market Competitiveness aside..Prudential is going above and beyond by hiring private security to keep you safe..just because they are letting go of mostly dead wood doesn’t give you the right to rant about the company and the city of newark in general.

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Post ID: @1alwr+1osR8ZZb

Prudential's corporate office buildings 4 to 5 are in Newark, NJ and most of its employees are in Newark.

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Post ID: @1akmt+1osR8ZZb

To the person blathering about Newark, you do realize that lots of employees don’t actually work in Newark, right?

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Post ID: @19yjp+1osR8ZZb

Consider the bright and positive side of getting laid off from Prudential Financial. The laid off employees no longer need to travel through New Jersey's version of the Middle East, dogging Bvllets, crime etc.. How many companies have you heard or know of have their own Security Police force who escort employees after 6:30pm from the Prudential office buildings to the train or bus station, in this case Newark, NJ Path Station??? Very few or None. And how many companies have their own Shuttle buses who pick up employees from NJ Path Train & Bus Station in the mornings when it's only a 4 block or 20% of one mile walk to Prudential's office buildings?? Very few or None at all. Maintaining and having a 24/7 Prudential Financial Police Force is extremely expensive. But Prudential needs to have it else they could get sued by employees who can easily become crime victims in dangerous Newark, NJ. In fact, employees may have already sued Prudential in the past because why would Prudential continue to maintain such an expensive operation for decades unless employees were crime victims in the the Newark, NJ W@r Zone?? As Conan O'Brien joked and Senator Cory Booker got deeply insulted because everything Conan said was true, Prudential's lay-offs are a new Health Insurance Plan. A free bus ticket out of Newark, NJ. Also, getting laid off means NOT having to drink the tetanus, diseased and polluted Newark, NJ water that's worse than the Flint, Michigan water problem. Google all of this. Thank your lucky stars if you get laid off or fired from Prudential Financial.

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Post ID: @19vkj+1osR8ZZb

Funny how Charlie complained the stock price reacted poorly to the layoff. Drum has been rolling for over 3 months. Everyone knows!

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Post ID: @13oaz+1osR8ZZb

Yep, even Charles Schwab’s submitted theirs

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Post ID: @12jxw+1osR8ZZb

Still don’t see a WARN notice…

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Post ID: @12oir+1osR8ZZb

Does anyone know why companies announce these things before they have told people? Aside from the awfulness you’re putting people through, don’t they risk losing the people they actually want to keep as they look for jobs elsewhere? Seems crazy to me, I don’t get the benefit.

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Post ID: @11jvs+1osR8ZZb

McKinsey effectively run the company now. They only answer to the majority shareholders.

All these transformations don’t seem to have helped the share price though.

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Post ID: @11twz+1osR8ZZb

And….not forgetting …. “remember we are being very thoughtful about this” / “we care about all of you”

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Post ID: @11iay+1osR8ZZb

Kinda sick of the whole “you’ll hear more later”. And “there will be another 750 people laid off sometime in 1Q” all while Charlie says “I tried to be clear in my note”

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Post ID: @11jxj+1osR8ZZb

Smoke and mirror here. They know it’s 1,500 employees but don’t have specific targets for 7, 8 and 9 because they want to be thoughtful about it, yada, yada,

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Post ID: @10ioe+1osR8ZZb

1500, US only

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Post ID: @10eun+1osR8ZZb

Missed the call - 1500? Is this worldwide?

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Post ID: @10mxe+1osR8ZZb

More overpaid execs talking about how they are also affected. Also mandating RTW shortly after firing a good chunk of the workforce. Good luck on talent retention and morale.

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Post ID: @10lkk+1osR8ZZb

Does anyone know which departments are affected by the lower level job cuts?

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Post ID: @10pxd+1osR8ZZb

So…1,500 employees it is 😢

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Post ID: @10hml+1osR8ZZb

I am sorry to hear this. I thought only US businesses were impacted, seems like it's wide.

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Post ID: @Xldy+1osR8ZZb

From PII. My whole team just got disbanded. I’m not even a 4,5,or6 😢

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Post ID: @Xmyd+1osR8ZZb

Anyone have an idea on how many people are affected. I am hearing about very few in GT and Marketing were impacted.

243 across the enterprise with more impacts to be communicated in January.

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Post ID: @Xgdj+1osR8ZZb

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