Thread regarding T. Rowe Price Group Inc. layoffs

@1xv if true, I would hate to see what a bottom tier one is. PS. sorry about your experience with "lazy associates". I have been with this org a long time and have seen very little of that. I suppose someone with an agenda will see what they want to see. Does not change the inevitable outcome of this downward quality slope we are on. A race to the bottom for investment in technology staff ultimately gets exactly there...the bottom. Anyone who has been in this profession for a while has seen this play out in other places. But the people responsible for creating the mess are long gone by the time it all plays out.

@1va lowest bidder or lazy associates who care more about their daycare situation than delivering value. Take your pick

At least Accenture is a top tier consultant

@1n2 i am sure Trowe customers will sleep well at night knowing trp management has entrusted their money and data to the lowest bidder. Unreal. Not to mention experience shows often accenture has reduced quality and increased delivery times either due to lack of knowledge or straight up breaking things that the “overpriced” then have to fix.

@1m8 why do u think they work ever want to come back? They’re running away from a bloated payroll with entitled employees. Every IT project has taken years. Often they declare victory by changing the objectives (you know what I’m talking about). Millions over budget. Each project has been a career for complacent people.

Accenture might not be better but at least we can offload capital costs upfront.

@1f5 Yes - They do not want any T Rowe managed systems anymore. All applications and data to the Cloud and more and more functions to Accenture. The Cloud charges egress fees if you try and move back to on-prem or if you want to move to another cloud vendor. I would imagine that Accenture knows how to make it painful to get rid of them. I doubt they would let their rental workers train US people to resume performing these functions, and I wonder if there is a penalty fee if the Firm changed its mind and brought these roles back. Once companies go down this road, it's hard to come back.

They are so deep we are never going to get rid of them.

No matter how bad they do.

I guess that's what u get when you outsource your core functions.

Pay up and keep doing it indefinitely.

The racism angle is such a cop out. Nobody cares where you’re from if you’re actually delivering. Problem is, in a lot of teams Accenture just isn’t.

Every few weeks it’s another polished deck, another “transformation strategy,” another workshop full of buzzwords. Looks great on PowerPoint.

Then you get into the actual work and it’s missed timelines, blame on trp systems, promises to do better, and people who talk way better than they execute.

It’s unfair.

It’s Capitalism.

@ad Get a clue - this is happening all over by the thousands. Look at all of the big tech companies. Talented people are competing for shrinking jobs, all because greedy US corporations and political hacks like Wes Moore make things more expensive than they need to be here.

An analogy. Look at Wes Moore and this state. They cannot manage money. Spend spend spend. Their lifeline is they can raise taxes and fees which become mandatory and people have to pay. Here, similar overspending on cr-p (fancy building, Stadium logos, Sharps raise, etc). They cannot force investors to invest with them, so have to find ways to make money go farther. So they "partner" with Accenture. It sounds good on paper. They fall for the sales pitch. So roles get offshored. The thing is, spending still keeps going through the roof. They keep hiring managers in IT like there is no tomorrow.

It is unethical, and contradictory to what some want to believe here, it DOES NOT STOP WITH IT. As their spend habit grows with AI, Accenture will be able to sell them on offshoring all kinds of roles. I personally know of people who work in finance and accounting who lost their jobs to offshoring. This is a terrible practice, born in greed. Bad corporate citizens destroy the communities they sit in so they can keep spending.

Many of us are fed up and have been lobbying for change. It seems d-mb to hand access to your data to low trust countries where bribes are acceptable, and you really have no idea who is touching your data. Accenture vouches for them so that is the best you get. They make money of the bodies they rent you, so they have incentive to keep the bodies already employed and to recommend more "opportunities for savings". Handing data access over to those who are bound by another country's laws and who have no loyalty to T Rowe or the US is problematic, at least for me.

The more white collar jobs lost to this practice in the US the more devastating it will be. A few hundred jobs here, a few thousand jobs there - it adds out. We are witnessing the voluntary destruction of the middle class, and the start of the US losing its grip on STEM. If this continues, no one will want to enter these fields and the US will be fully dependent on outsiders for technology, innovation, etc. It all boils down to selfishness and greed...gotta may for that $900M + status symbol on the water and the rest of the vanity cr-p.

I'm going to be harsh with you, but if you can deliver results that match your salary, you won't get fired—and even if you do, you'll find another job. You need to stop clinging to your company and start working on yourself again, or you're going to end up in real trouble. You've probably been in a cushy environment and haven't had to think about this, but we're living in an era where you'll constantly be asked, "So what can you actually do?　If you've got complaints, take them to the politicians. Most of this is their fault. Well, it's actually the fault of our fellow citizens who voted those politicians in, lol.

Offshoring is unfair to those who live in this country struggling to keep or find a job. With all the layoffs happening, it feels unethical to send our jobs out of country. I also feel as though it introduces unnecessary risk to trp and the business processes, for example giving my job to Accenture employees when I’ve been doing it for 20 years and they get trained for 2 weeks and start making mistakes on client driven projects. Just all around unfair IMO. Accenture employees are nice people and they are also just trying to feed their families, but I don’t support sending our jobs out of the country.