I’m hearing some talk on Distribution might be laying off next year. Which is now only a few weeks away. Anyone hearing this too or something similar?
36 replies (most recent on top)
@7s1 Quite similar to the investment team on the over-promise, under-deliver then? Some do ok, many do not.
@7mv I heard they might do a sweep of some of the GD teams. Particularly some of the duds in EMEA and APAC where select teams haven’t sold anything meaningful in a very long time and AUM has even gone backwards, even with markets up. They are always over-promising and under-delivering.
@7mv Not yet. Stay tuned.
@OP have there been more layoffs in GD and marketing this year yet? Weren’t they supposed to lay off those arts majors yet? Isn’t there some budding baristas that can switch bludging in the office with bludging in the park?
@2cv right on!
@2ra I read it more as 'be careful how you write' (as we know that the firm monitors this site) rather than a personal threat...
@2yn there needs to be more layoffs in all levels of management in Global Distribution. It’s been d-mb and d-mber leading the firm and letting middle managers locally get away with absolutely atrocious things.
@2ra scandalous. I always thought many of the Sales crew were fake nice.
@2q9 someone threatened another commenter basically claiming they recognized their tone and writing style and should “watch their back.”
@2nj Ooooh, what was said?
@2cv it’s nice to see they removed the threatening comment someone wrote in response to this.
@1qr yeah shmoke those shmos in Sales
@1wd contributing very little is a nice way of putting it… and in some cases very optimistic. I’ve observed what can be described as downright value destruction in certain countries/offices where the company should have double the AUM it has today in those jurisdictions.
@1w9 already happening I think… on the other hand, you got sales men and women who have made a career out of contributing very little
@1w1 Layoff the investors that cannot manage duration very well?
Layoff the incompetent fools in Sales that don’t even know what duration is
@1k1 yayaya still some senior shmucks who are stinking up the joint. Many who lack accountability and are dreadful leaders who can’t strategise to save the company.
@1ke Not going to name people on here. If you cannot work it out, you likley don't know them anyway.
@1kc yeah who is TB?
@1ka who is TB?
@1fz TB - on the way out. About time too...
@15r the buck has to stop somewhere. Sacrificial fat labs only go so far. Thou must atone for thy sins T. Rowe.
@1fz don’t know TB but vibe is they’re going to clean house in some areas that have consistently underperformed. GD had it easy for way too long.
Does anyone have details about departure of TB, from Global Distribution area, known to be out-spoken (I guess you can call it that), with venom for most people work, driving off many good people for the past 3 years.
@15r Which country?
@ja can the country head! Can the country head! Can them! Can them! Can them!
@qy hope the bags are packed?
Marketing folk pull up your pants. It’s gonna get bumpy soon.
@OP the company should fire the L3-5s in Distribution that have displayed their incompetence. Local leaders should be held accountable instead of making others scapegoats.
@et So that we can get well paid. Laughing all the way into the sunset $$$
@b3 ya glorified email pushers that hide behind a veil of ignorance about the company’s products. What purpose do they serve? Why do they have jobs and others not?
@b3 overstaffed is an understatement. Whales are calling those teams bloated! OUS teams in particular are a joke. Second tier staff where the jobs of three could be done by one person.
@b3 Yawn. GD had huge gross flows this year. You cannot hold on to assets in strategies with cr-p performance at huge fees.
Considering our sales and marketing teams are one of the few areas that are legitimately over staffed with people who just push emails around and have no understanding of the products they should be selling, this is actually an area that needs some culling.
@ar I’ve heard of the odd person here and there getting laid off in GD but nothing like the large scale purges of other functions at the firm.
The golden question is if and when there will be something similar in GD…
Some already happened this year and there wil be more in 26 for sure.