Some had been with the company for many years.
58 replies (most recent on top)
They let go of 200 people? But only 60 qualified for severance? Most places only quote 30-60 @gx
@2v8 A lot of the people over there are rejects from the Franchise side. They will not be hired nor would anyone want them.
@2tj There seems to be a constant stream of operations roles posted online. Why not move them into a different role and fill those spots?
@2t3 of course those people are gone. They have nothing to do now. SIA is now equitable.
@cc and now the article comes out about SIA being sold. I wonder if HQ staff will be cut as part of this?
@gq depends my severance was about 20k
@k6 More of a delicate flower, considering the down votes this commentary is receiving. Time to get your big girl undies on and deal with it. Not everyone is going to rave about everything you do. Surprising this hasn't already come to mind. But then again maybe not surprising at all.
"someone is very butt hurt about this topic. Go look at the down arrows on the comments about it.
It’s probably the same heels and skirt that stood up in a townhall meeting and practically cried because she’d gotten negative feedback about the girls club. She said it hurt her feelings.
All she did in that moment is let everyone know that she cannot handle negative or constructive feedback and that her feelings are very easily hurt. Not the brightest person."
@j3 Yup. That's become super obvious. "The women who run this group have figured out if you're working in an old boys club and aren't a nepotism hire, the way to get ahead is to wear a skirt and high heels. It's how they get away with spending so much on this group while doing so little to have an impact. It's how they gain favoritism and advancement in their careers. Those who promote them aren't looking at them for work experience, how articulate they are, or how knowledgeable they are. It all hinges on the skirt and heels. If you're a woman in this company and want to advance your career, invest in skirts, high heels, and make sure your hair and makeup are on point.
One last thing: Don't be angry at them for figuring this out. Be angry at the ones who require this in order to promote women."
@13p Yeah. They don't want anyone talking about it. SMH Probably came down from their management. They still want to tell prospective new hires they've never laid anyone off, even when it's no longer true. They also realize this all happened on their watch and because of their mismanagement a lay off had to happen.
There needs to be an assessment of the leadership of IT from an outside consulting firm to get some unbiased information on how this group is really performing rather than just the bs they tell themselves.
It wasn’t just IT. Very odd that no one is mentioning non IT workers like the corporate photographer or JS the head of global portfolio and electronic trading.
@za We were told by a manger yesterday to stop talking about it on the help desk. I use the term manager loosly as he is a bafoon.
@z0 Hi Ron!
Anytime a company experiences a layoff and takes an abusive stance of telling employees not to discuss it, it causes anxiety and fear. In that anxiety and fear, people look for outlets to talk.
If the culture was more transparent rather than opaque, there wouldn't be so many on a site like this.
If you want to curb misinformation, let employees talk about their feelings regarding the recent layoff and be more transparent with us.
The amount of misinformation here is outstanding.
@yj Yes. And it's also why the child never seems to go to see it's father and is always with the mother. Sad really.
@ye agreed. It’s also the reason the women who have children while not married or in a serious relationship never talk about their child’s father, calling their child a miracle baby or something of the sort.
@jp This is a not so secret company-wide theme. There is a reason former Directors from the Investment Products & Advisory and Financial Planning departments were pushed to the field and their in-office significant others given raises/and or were terminated.
The company needs an ethics course from the top down. Really surprised Crystal has never been terminated for the tax-fraud liability created by knowingly approving fraudulent expense reports over the past 15 years.
Folks, we should move to the main page /stifel-financial or www.TheLayoff.com/Stifel-Financial and start new threads thre... that way, replies can roll up under a single topical post..../
it looks like mods or admins are actively moderating.
If they nuke this super long thread for any reason (for example, someone goes rogue and posts unwelcome content), we lose everything. It is important to keep this thread alive so people looking for jobs and doing research can see what is happening and where the good/bad thngs are.
Right now Glassdoor is heavily moderated + the corp pays for moderation... We spend $10K+/year on that... Corp is the admin of the Glassdoor page. they cannot do that here on theLayoff + the insights are better for researchers, even if this site skews negative quite a bit. In my opinion right way to research an employer is to use Glassdoor to see where they perform well, and use TheLayoff to see what people are complaining about. Then overlap the two sets, remove the extremes, and you get a fairly good picture of where things likely stand for the employer or employers.
Soooo, my strong suggestion is that we start creating independent threads on the main Stifel page here.
Sorry for the long response. I meant to just mention the main page, and I went way too wide.
@f1 It's in the news paper today, kind of a fluff piece.
@sv Are the initial AJ?
@sy I have a few sources who are close to the board.
@sv which help desk manager was it?
@sv where are you getting information about 250 more jobs?
Here is what I know, 250 more jobs will be cut early next year. They don't want to layoff a bunch at once, and they do not want to do it during the holidays. Also to the manager on the help desk who celebrated Charlie Kirk being ki-led, we do see you!
@jp someone is very butt hurt about this topic. Go look at the down arrows on the comments about it.
It’s probably the same heels and skirt that stood up in a townhall meeting and practically cried because she’d gotten negative feedback about the girls club. She said it hurt her feelings.
All she did in that moment is let everyone know that she cannot handle negative or constructive feedback and that her feelings are very easily hurt. Not the brightest person.
@dp The women who run this group have figured out if you're working in an old boys club and aren't a nepotism hire, the way to get ahead is to wear a skirt and high heels. It's how they get away with spending so much on this group while doing so little to have an impact. It's how they gain favoritism and advancement in their careers. Those who promote them aren't looking at them for work experience, how articulate they are, or how knowledgeable they are. It all hinges on the skirt and heels. If you're a woman in this company and want to advance your career, invest in skirts, high heels, and make sure your hair and makeup are on point.
One last thing: Don't be angry at them for figuring this out. Be angry at the ones who require this in order to promote women.
@hd it’s going to take a lot of work to clean up the hoard of documents and data this company keeps. Until this and a bunch of other things take place, AI is going to fail.
For those who were let go, better days are coming. There are better companies out there who want your skills and will pay you more and give you better benefits.
I’m sure the board will praise Cheeto Ron for saving the company so much $ but giving him more $
A company that actually gives a damn would have let employees know ahead of time so people could be prepared. The way they did this is just a testament of what they think of their employees.
Everyone will be replaced by AI in a few years. Cheeto touts about not having robo-advisors but whole back office will be robos in a few years
@gx Nice. For the privilege of being underpaid compared to other market opportunities, the privilege of having to pay huge healthcare premiums, the privilege of a pittance in terms of PTO and sick time, the privilege of having to be in the office every day, and the privilege of having to pay for parking to go to said office, employees have to stay with the company a certain amount of time to be considered worthy enough of a severance when laid off.
What a cheapskate company. SMDH.
Because of the terms of my separation HR had to send me the roles and the ages on those roles that were let go…I lost count after 200. Only 60 of those let go were eligible for severance.
I’ve been laid off before, this might be the worse of them all
@OP does anyone know what the severance was? Starting to get worried
@f1 they would need a tip to report on it.
@et terrible. Even more terrible that the local news didn’t report on it.
@ed yes across the whole firm.
@eb 600 people total?
The layoff is 600 people with only a handful offered a severance. Mostly tenure employees that have put in 15+ years
Orange CEO Ron got a 30% pay increase at the end of 2024. Sounds like the company had to get rid of many in IT in order to pay Ron more money.
Hopefully everyone who has their money managed Stifel sees whats happening.
@dz why would you use someone else’s name you weirdo?!? My sisters name at that!?!? Don’t let me catch you!
Yes that happened and I was one of them and more than 40
Some of the people made sense, others not so much.