Thread regarding T. Rowe Price Group Inc. layoffs

@1dd Yep. Look at where flows are going and you will see that we are only somewhat relevant to where money is heading. Plus very expensive fees with a lot of IP turnover in the rear view mirror. This place and the proposition are not what they were. The star is a little dimmer. Also, look at the scale of the gross flows - it's not ike Distribution isn't selling, including a lot of underperforming strategies.

@1d9 no one is saying there won’t be some outflows with bad performance. However:

• there are TRP strategies that are outperforming
• if all underperforming funds had no inflows, then most of the active US EQUITY funds would have no assets and shutdown, let alone plenty of other fund managers in more efficient markets. Clearly this isn’t the case.
• TRP has a good brand name and has a reputation in the industry
• Distribution gets paid well. They’ve got to add value.
  For sure, performance hurts flows. BUT, it isn’t everything and a good RM should be able to stem outflows in underperforming strategies while selling strategies with good performance AND if they’re really good will sell strategies that underperform.

@19e Or maybe existing clients are selling underperforming strategies resulting in net outflows?

@OP hey buddy it’s quite simple: the root cause of consistent net outflows is incompetent Relationship Management teams. Especially when it’s at a blue chip fundie and there are still funds that are well performing.

@OP they cover up so much. Laughably bad leaders stay in power for waaaaaaay to long here

@OP constipated geriatrics!

"If you’ve experienced five years of consistent outflows, you need to examine the root cause: leadership."

LOL. I think you just answered your own question.

@OP mate, more than freaking avoiding it! They use it to validate their own roles and existence. Anything that is negative they wash it out and sweep things under the carpet. Then they go after people who raised critical issues and constructive criticism. 360 feedback used by dogsht management to weed out whistleblowers.

@dn That’s rare. I report to an L5 head of micromanagement and have never been asked because her ar-e would be exposed.

@OP They don't. I report to one and definitley provide feedback.

@d2 Yep, they are figuring stuff as they go along, but rest assured their jobs, bonuses, etc are safe. As a life long Baltimorean, I am disgusted by what they are doing. They are now just pretending to be a Baltimore company. I don't know why they even replaced the headquarters with increasing numbers of their workforce going to areas of the undeveloped world where living is much cheaper. They are going to learn that anyone worth their salt within this contracted workforce will leave for better paying jobs. Turnover is rampant within those offshoring firms. Staff will be in a constant state of flux after about 8 months. Please, just take your stadium sign and logos and just leave. Make all management relocate to one of the areas of the world they are so enamored with. That way, their preferred group of people can have an office to come to, because "in-person collaboration is key to our culture" ya know!

Not a lot of focus has been paid on the poor leadership and accountability at board level. Layoffs occur but 'headless chickens' could be a good word to describe the TRP leadership, including local leaders. No vision, accountability or understanding of how market dynamics have shifted in asset management. Layoffs feel manic to keep the ship afloat and not as a well considred process. Lives destroyed by weak leadership.

@ba Director & Head of

Who is L4/5? Is that heads of functions?