They are coming in.
We will train them.
We will take the package.
We will leave.
They will stay.
32 replies (most recent on top)
@1ta you’re not serious right or just in denial? A lot of top brass and the Investment team have Ivy League education or Stanford/Chicago/similar.
@1bx in the scheme of things most of the c suite trowe people did not go to the best schools, those people work at much larger companies. Like the minor, minor league of the finance world. Bragging about working at a company that is going under, weird, but you have the right.
@196 you’re assuming you’ll get a nice package. That’s totally contingent on how many years done with the firm and even then they can low ball you.
@kk too true. Trading some uneducated fool from another floor to another country. Who cares? Wait you guys are some tech genius, why you working where you working Holmes? AI that boy! Give us all a bigger bonus pool and more dividends.
@1be never shopped Temu. I do buy a few things Made in America. I do hate xenophobes.
@1b6 It's hard to cover up things in my department. You must be "R" or "C". Hey, enjoy your Temu workforce. It won't be my problem.
@1ap I hate to break it to you but the lack of checks and systems in place as well as accountability at the company means this is already happening. Privacy is a joke at T Rowe and problems do get covered up all the time. You trust all your colleagues?
@19d There is an element of risk in assuming that an outside foreign-owned and run company, that also provides workers to your competitors, will be trustworthy and not cover up problems. There is a disruption in the chain of the command between T Rowe Management and the worker with their hands on the keys. Also, a long time T Rowe worker who wants to keep their job has a certain degree of loyalty and gratitude that a disconnected employee of the outside company can never have. Workers switch contracts all the time and there is a lot of turnover because their workers don't get paid a lot & the companies just treat them like meat. Many of us who can be called off hours understand the feeling that you get up and do a great job at 3am because you value the relationship with the firm. You try harder to ensure you succeed. A low paid employee of a people mill won't be so motivated. Anyway, they are so beholden with the cost savings it is shocking they did not consider any of this.
@19c to be crystal clear, T Rowe Price has been forcing people to train their replacement for years and years now. EVEN NOT IN LAYOFFS. They know workers need the money to care for their family and live. They know workers have no choice in a tough job environment. This company is heartless and cruel beyond measure.
@19c absolutely on the money. Management is high on their own (and their consultants) supply and completely delusional. I already know now it’s not even worth trying to call the help desk for computer issues, I imagine it will continue to get worse.
@197 I have been reading about people being forced to train their replacements for at least a decade now, but I never imagined I would find myself working for such a business. When I came here there seemed to be a culture of employee appreciation and opportunity. The practice is so disgusting it should be outlawed. No one should be denied severance for not wanting to take on such an unfair, unethical, and demeaning task. Severance should be a recognition for all of your past great efforts, not as blackmail to ensure their bad choice in replacement somehow can pull it off. I had to go through several interviews to prove I knew what I was doing to get a job here. I was barely showed the ropes much less given extensive training. The thing is, as they go through the teams, many teams can only document so much as they routinely face situations where creativity must be invoked to find a solution. Coming up with step by step for dummies type docs for every situation is not practical. And this place seems naive to the fact that many of the skills these consultancies tout their warm bodies of having are heavily embellished, if not fabricated altogether. They just hope the fired workers will help them hide the lack of talent they are selling these cheapskate companies by writing step by step procedures. It is their choice if they want to use a Temu workforce, but don't expect people that need this kind of "help" to be top tier and functional in a crisis.
@15w sorry but no one owes jack sh-t to a company that outsources your job but tries to essentially blackmail you into training your replacement with a severance package.
If TRP wants to make those types of decisions, they should not be protected from the natural consequences of them. Workers who are outsourced should absolutely do everything in their power to train their replacements poorly or not at all, then taking the severance money and run. It’s honestly the least a person should do if they have any self respect.
If you’re close to retirement then sure, just stay, di-k around and wait to get laid off with a nice package. If you still have 15-25 years still left to work, get the heck out and save your career!
The job market is rough but not dead. People are getting jobs, it just takes longer. Start putting yourself out there, updating linkedin / resume, learning. Get out while it's still on your own terms.
@16f folks still employed at a place with decent comp and great benefits are not any better off than someone who has to find a new position in a tough job market? Whomp whomp. You are not a victim. If you think you are at risk for some future round of reductions, then you still have time to take advantage of the education perks while searching for a new position - all while getting paid and with health insurance. Less time raging into this site and more time taking control back of your future should be considered.
@15w Dude, what are you talking about? We are all in the same garbage can. Everyone is scared and miserable given recent trends. People who are still here are not any better off than those let go, because we'll get our turns soon enough. Our hearts are with those facing this. It is horrible. The OP just stated the plan. S/he didn't create the plan. Sadly, after that 10/30 meeting we, already knew the plan. No one is d-mb enough to think they can gloat.
@pd While I understand and sympathize with the sentiment, please think about the repercussions of those types of actions for those who will still be here.
@pd protest! Don’t do any work!
Take the package but train them incorrectly or don’t show up to training sessions because you’re “sick.” Write up process documents that are wrong. Seriously, sabotage everything you can!
I wouldn’t be surprised if all software and desktop services get taken over by AI in the near future anyway. We all use virtual desktops and hardware in office isn’t that difficult to troubleshoot.
I’m OUS and the local IT dude has no tech education and takes a long time to fix anything that isn’t obvious. He makes a meal out of every issue and acts like he’s doing you a favour every time he “fixes” something. I can use AI to give me instructions and fixes in less time than it takes to talk, email and lodge a ticket with the dude. Ditto with any call centre in India or Phillipines.
@dw similar story in distribution. Consultants came in years ago, built this entire infrastructure for manipulating data and dashboards. Consultants left, handed over all their work to new trowe hires straight out of school and they were clueless on how to maintain it. Became a bunch of throw away work. At the end of the day, money was wasted on consultants, new tech and new hires.
@cy The goal is to save money - and they will succeed there, but when these Accenture workers have to come up with solutions and the people they replaced are not there to teach them what to do that is where the pain will be felt. As long as everything is working and the knowledge docs left behind by fired staff cover the solutions to problems it might seem OK for a while. But once new issues come up that Accenture is unable to handle come to light, can these folks google their way to solutions?
It is a typical easy ride for the CTO - succeed but don’t care about what happens with the employees.
@b0 sad to see the company has changed so much. Leaders here lack the courage to back good staff and are only concerned about what makes them look. It hasn’t been the T Rowe that a lot of us came into for a while.
@am That is terrible, and I am sorry you went through that. This company has become so nasty. I was sickened by what happened yesterday. I just could not do this stuff to other people, and I don't understand people that can.
@ah not just in IT. I was forced to train my replacement by a boss who made it clear he wanted me out. I was then bullied and then criticised for not getting on my hands and knees and training my replacement with a step by step process and detailed explanation for everything. She had no experience in the role and should not have even been hired in the first place. Ultimately this company bullied me to the point of me having to leave. They do this to people as part of a normal course of business not just part of layoffs. T Rowe is a dumpster fire.
It would be nice if local companies would receive penalties for moving jobs out of state or over seas for cost saving on high salaries because of cost of living in the area.
what really gets under my skin is just how bad these executives are at public speaking. the COO sounds like she is having a panic attack every time she publicly speaks. the CTO and other tech leaders have no charisma or ability to speak either. listening to these clowns is so painful at a human level. how did they get to the positions they’re in?
@aa Yeah, what a joke. They cosplay the great Baltimore company they used to be - but these people are nothing like Mr. Price. Few of them have been with the company long - they are not even from Baltimore or anywhere in Maryland. They will come here - set it up as an Indian only shop, collect their bonus/golden parachute, and move to the next town, and put more people out of work. Tell everyone you know what is happening here. They obviously want this hidden which is why they manipulate the layoffs to avoid WARN notices.
Good Baltimore based company that clearly hates Americans.
Maybe they should stop spending money on Baltimore sports teams if they hate workers here so much.
every company that outsources is junk and trash
@OP Yep - I realized yesterday that just because I was "safe" yesterday, it only means I will be picked later down the road. A bunch of us were talking today and the rumor is T Rowe does not want IT staff anymore, just a handful of managers. ALL IT roles will go to Accenture. Apparently that is a HUGE contract. And funny, how Accenture was the preferred company when various "leaders" did the same at their last jobs. I guess their relationship with Accenture is greater than that of colleagues, fellow Maryland residents, etc. Just another D-Bag company who is contributing to the abolition of the middle class. Start looking NOW or enjoy setting your replacements up for a long career at T Rowe in your old job!! lol