Did the email move you at all? 🤔 It felt hollow to me. If they could have gotten rid of all of us at once they would have. I feel more like we are on a subway train...yeah, all of us are moving "forward", but we all have "stops" ahead where we must get off....Oh well, whatever.
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@2ee and that’s with the company having reviews removed. T Rowe do you really want to know what your employees think?
@2ff okay unc
@2et Sure how about saying fire the useless 20- something year olds - you know the ones who just hang around for a year or two and run around and talk about BS all day…and then quit and waste company resources.
The most pathetic part is that decision-makers judge value based on 'years of service'—a superficial number—instead of looking at what someone can actually do or the effort they’ve put in. They trust meaningless metrics. We need to fire those useless 50-somethings who have zero desire to learn anything new and are just clinging to the company. If we don’t, there’s no telling what they’ll resort to just to save their own skins.
Just fire those incompetent, overpaid managers who do nothing but play office politics and su-k up to the higher-ups while pretending to be busy. They’re the biggest liability when a company is struggling. Since they’ve been slacking off for years and have no real skills, they just ramp up the brown-nosing and start pointless projects that their subordinates are forced to actually execute. It’s incredibly stressful. Even the most talented employees, who stayed because they loved the company culture, have a breaking point when it comes to dealing with an arrogant, useless boss.
@2d3 our Glassdoor rating has dropped to 3.6 and I’m sure it was much higher when I applied, maybe 4.something
@27m I have heard that even clients and consultants have been saying in meetings with portfolio managers that they feel like culture at TRP has changed for the worse under Rob Sharps and they are concerned, and that it may affect consultant ratings and client opportunities. They’re also very concerned with all the turnover in Investments over the last 1-2 years.
It’s a global issue, but we have so many managers here who are just coasting and protecting their seats. I've literally watched them conspire to push out high-performing junior just to feel secure. It’s pathetic. Once the evaluators team up, it’s child’s play for them to smear a junior’s reputation and nitpick every little thing they do
The company made a huge mistake hiring these 'dead wood' managers en masse years ago. Had they focused on fresh, talented people, we’d be leading the market. Now, we’re stuck with these toxic, sociopathic leaders who are poisoning the well. It’s systemic. At this rate, I don’t think the company will survive
@28a If the backbiting, blame shifting, and flat out incivility on this board is at all indicative . . .
@27m I see that at meetings and on our team chat. I say something - and someone immediately tries to one up me or spin what I said like it is wrong. Never been a thing until this year.
Vibe in Australia is like pretty grim. I don’t trust the people around me. A lot of throwing people under the bus.
@1rc depends on which part of Investments
@1nw you sound like you’re from the back office or some cost centre soon to be outsourced
Under the guise of 'collaboration,' my incompetent boss is just dumping all the work on me, and there’s no way out. She’s only interested in saving her own skin, and the performance reviews are rigged—controlled by her and her little circle of cronies. This whole HR system is a total joke; it’s basically a free pass for her to gaslight and bully me. All she ever does is play office politics, like that WAVE stuff. LOL.
@1nw investments is one of the few places where it is pay for merit? If your stock picks or bond picks don’t deliver alpha, then your bonus will be less?
@1pc And an a-s to boot.
@1kz Yep, still here, still highly rated and still paid a fortune. End it all tomorrow and no need to work again, but if they did it would cost a lot more, so even better. Such mediocrity has been very fruitful.
These underperforming, arrogant PMs are a liability. Their 'expertise' is obsolete in the AI era. Instead of overpaying these people, the firm needs to clear house and promote younger, sharper, and more humble minds. It’s pathetic that they’re still treated as stars.
@1k0 Buddy, you need to calm down and stop with the unnecessary and slightly misogynistic retorts. Why are you defending T Rowe tyrants in that particular office? Don’t you want better? Or are you a T Rowe tyrant yourself?
@19q I know right? I mean they hired you
@1ft in two months Rob makes what I will probably make in a lifetime. It’s actually sickening to think about.
@1g6 Grow a pair. You know that is not what was said.
@1f0 real professional. It’s good to know you condone bullying by senior staff.
I am sure Robby sleeps well at night with all of that money in his pockets. Corporate greed at its finest while the little guy suffers. Maybe he can send another BS email to the company that says nothing.
@1f0 "Also, the company is really not in financial distress. Read the earnings statements and you will see that for yourself."
Still insanely profitable -- just not quite as insanely profitable as in the glory days, and even more dependent on the bull market to maintain an illusion of earnings growth.
Which means the only way for Rob to justify his last pay hike is to cut, cut, cut...
@19v Oh, dry your eyes. Also, the company is really not in financial distress. Read the earnings statements and you will see that for yourself.
@vz this is an absolutely disgusting statement. As someone mentioned you are probably OUS. It is common knowledge that the company has had senior “leaders” in one of the southern hemisphere countries who have actively terminated workers frequently for years and years. AND LOVED IT. Was the company in financial distress in those times? NO.
This behaviour assumedly has been condoned directly and indirectly by MC.
@18d Maybe those let go are not actually that talented. A lot of mediocre people on the payroll.
@14q Of course - everything has to be AI now...Maybe AI told them to force out talented people for people who cannot learn on their own and who need step by step instructions to do a job. Comradery is out the window at this place..
@wr spelling… ah mate, the whole world but the US spells things the right way
Even a cursory review of the email reveals that it was almost certainly written by ChatGPT. It doesn't read like an actual human being took the time to try to convey a difficult message with an ounce of humanity. Instead, it reads like a corporate downsizing satire, offering tired platitudes and corporatespeak instead of actual substance. Instead of sharing real information that could serve to reassure employees, it's "we've got a plan, trust us." Unless they've got a plug to stop up the torrential fund outflows, we know there is no plan.
Whoever is in charge of internal communications at this firm needs to be fired immediately - this is amateur hour.
@vz haha this is hilarious! How does that boot taste? The management committee doesn’t fire anyone and couldn’t care less, they get all the middle managers to deal with that trauma. Then they hop on a plane to their vacation homes in Hawaii and sh-t.
PS: I assume from your spelling you’re in UK/Europe/Australia. It’s easy to be a bootlicker when you’re in a country where your ability to keep yourself and your children alive doesn’t depends on the health insurance you receive through your employer. In the U.S., employment is essentially indentured servitude because it’s the only way to get decent health care. Trust me, our management committee is quite aware of this, and is even betting on it.
Management is so concerned that they give multi million golden parachutes for themselves just before layoffs begin. Very touching.
@va interesting you think a pep talk memo is trade secret. You’re as d-mb as you sound?
@vz CLP and his little friends were literally giggly and joking around on mute before many of the layoff/transition meetings. Guess they didn't realize the camera was on. As soon as the meeting started, the masks slid into place. In meetings with the broader orgs, they were openly happy about cutting people and cost savings - talking about the poor people who were scheduled to be laid off who were stuck training Accenture id--ts like they weren't in the room. Don't try to defend management for their despicable behavior in these layoffs. They don't care because they were hired to do this sh-t.
@vd what a garbage monologue. Maybe stop deflecting and look in the mirror and your own comments?
@vf If you knew any or most of the MC members, you would very much realise that they are not the sort of person you describe here. I have had to lay off people, as has my boss, and I have seen the toll it places on those that have to do it. I do not expect you to have any sympathy for them or me, and I cannot speak to the nature of every lay off, but we do everything possible to minimise it.
@va employees have every right to share internal memos externally as long as they don’t have proprietary investment information. Maybe T. Rowe should be more thoughtful about the firm wide communications they send and how they affect morale. Sending obtuse, vague, and condescending emails to employees is a recipe for getting your sh-t posted on the Internet. Treat your employees with respect and they will be less likely to share internal memos on web sites or with the press. Loyalty breeds loyalty. The management committee making it clear that they think we are all expendable and that they are literally salivating over the idea of AI replacing most of your workforce has consequences. Fu-k keeping their secrets for them.
@rt "maybe you will get laid off soon and you too can kick rocks". Wow, hopefully you live alone with no pets as you are just a nasty misanthrope. If I had to work with someone as miserable and unhappy as you are every day, a layoff would be looking pretty damn good.
@rt interesting conclusion. I can only say that if you or those you care about were impacted by a staffing reduction, you have my full support and sympathy, and that same sentiment is shared by every single person I know at the firm. That still won’t translate to me supporting the sharing of internal memos externally, but those are two very different things. Prayers for you and yours.