Does anyone have any insights on the COO leaving? Is she training Accenture to do her job too? I never thought they'd let her slip away given hiring goals.
24 replies (most recent on top)
@zmc But we're going to have a "Humanoid". There are companies throughout the US and the globe that have been making robots for decades already; they are better positioned to do something like that than this place. It just shows there is no real plan other than "we're going to do cool stuff with AI". T Rowe was such a solid regional firm. They tried to go global and got in over their heads. Then they decided to take a heavy technology approach, but fire knowledgeable people for inexperienced noobs so they can take the money they save to go into "AI". They should have "partnered" with an AI company instead of Accenture.
@zhc most top companies are investing in AI and tech. All of the big financial services companies surely spend big bucks. Also, IT/desktop support roles could be done by AI and associates literally following its instructions. Th problem arises when you have clueless leadership teams who throw cash at useless AI projects that don’t move the needle as opposed to value AI projects.
@xn yea, meanwhile support suffers as do the clients who need the support, in favor of the AI Lab pet project division who acts like they know everything but can't get out of their sandbox with arbitrary goals. There are other AI companies who can do it better. Are we a Financial Services firm or an AI Firm? Dont agree, that's ok, but let's talk about the AI robot they want to be at HP....that's ridiculous.
@2d1 I know the market has been down overall the past couple of days, but there are days when I see on the news that there were "record gains", but T Rowe stock just bounces between 95 and 103 (mostly in the 97-101 range). So when will the layoffs, Orioles sign, Ravens ads, start making stocks go up? This stock is a joke. Other companies have enjoyed better performing stock. Maybe not enough Accenture workers?
@15e less than 100 now
@1re so is taking a job that is likely to be offshored or done by an AI.
Scheduling the AMA the week of Thanksgiving in the US when many people take vacation is a choice.
@1a5 Also, remember the ol’ adage, “buy low, sell high,” so you’re picking up more when the stock dips. And with the 50% match (I forgot to what point), it’s free money.
@1a2 Thanks - forgot about the match. I was only thinking that was 401k. I guess I will stick it out another 6 months til I get "transitioned".
@198, I get the sentiment but don’t forget their match for the ESPP, which is automatic return. Get what you can while still there.
I am leaning towards no longer participating in the T Rowe Stock program. Every month a couple hundred dollars comes out of my pay to buy chronically stagnant stocks from a company that sells out American labor and our middle class. Considering I likely won't be here beyond 6 mos thanks to "cuts", and I am actually LOSING money on this stock, why am I doing it? Years ago it would appreciate in value. But look at the price over the past 18 mos. Other stocks are doing really well right now, including for other asset managers. This T Rowe stock just bounces between $100-$102, with an occasional brief $104 spike. I'd be better off putting it in my savings account and earning interest. I've given up on this stock rising much at all.
@14z If the stock price drops below $100 and stays there for a bit, you will see those people getting cut as well. When other banks and financial services companies were up, our prices remain relatively flat…not a good sign.
@111 Yep - but they won't get rid of them. Ditto for this Orioles/Ravens stuff. That cost millions. Have they really made that money back yet? The constant layoffs and stagnant stock price would indicate that would be a "no".
@xn They can save more money and keep the good people by simply cutting the AH, DS, CM, etc. that report to CL. Those are the useless ones that do t do squad except kiss up to the leaders. Disgusting…
@xn I've seen hostage statements read with more gusto. I'm sorry, but people in similar roles in the past never seemed like they truly hated us like those 2 do. I am not so sure it is all about cost savings at this point. You can feel the uneasiness in the Meeting Pulse questions, and it is sad people really think their questions will get answered. Just assume you're next and act accordingly. That is what I am doing. It is like working an X month contract job at this point.
@sf If that poorly read statement is an indication of R’s leadership and meant to build confidence, I think we’re doomed…I’ll be shocked if R lasts through 2026 without being replaced by C…. But, maybe C will be too busy gutting App Dev like he did with Support.
@r5 I feel like a coup of sorts happened, because she was brought in with great fanfare, then she hired R, and then he hired C, and now SHE is OUT after < 3 years? Maybe she was not as enthused about Accenture as the other 2? Today's "meeting" basically was him reading a statement that sounded like it was written by AI. The upcoming AMA is too little too late. For one thing, they had many opportunities for employee outreach, but instead schedule 2 AMAs and telling people "don't ask questions about anything but AI". Also, the answers given are politician answers, and people don't get answers anyway. Maybe people they wanted to keep are now making exits due to job instability and this was to get out ahead of it?
She was such a waste. We never saw here, she talked in circles when we did see or hear from her. Oh, and the Change office, Transformation Office, or whatever iteration, is going to change again. No direction, no plan, but can churn the office that's supposed to drive change 3 times in 5 years.
@b4 daaaaaaaayum girl you slay
We should outsource all of IT and go all in on AI
I remember last year we were all told we had to choose then complete some "COO Learning Plan" in Degreed. So like good soldiers we took these useless classes, and that was it. I never understood the purpose of it. I guess that was her "contribution" to T Rowe, and she is ready to move on and bring that "expertise" to some other firm. I will miss her excitement describing offshoring jobs to India. Not. Bye Felicia!
Pretty sure Accenture could find or has someone infinitely more gifted then her.
@b4 hahahahaha
@OP Not everything in Operations is about IT. This impacts a lot of other teams and associates as well.
Get off your gaming chair, take off the glasses, turn off the PC, dust off those cheetos from your midriff and walk up out of the basement.
Hahaha, "given hiring goals," you mean DEI?