I love how in the town hall he said that basically after they fired a bunch of employees the were able to find more of our new investments with the money saved from firing… And that they have more future investments to fund… Sooooo, more people getting canned I’m sure.
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@aa "Why do you think there will be layoff. Stock is doing well."
Have you considered that the stock might be doing "well" (although still badly lagging the market) because the Street expects there to be more layoffs?
@jq where did you hear layoffs? I’m just hearing collaboration and efficiency. Is that a coded message?
Rob Sharps essentially said that we WILL have more layoffs with the new corporate strategy during the town hall.
@eh TRP is it outsourcing all of its IT function. That is just a lie.
@fj In lieu of bonuses, Sharps will enroll all eligible Associates in a Jelly of the Month club. The gift that keeps giving all year long.
@fj Or even have a job at TRP by the end of the year…big changes!
Honestly, I'm worried about whether we'll actually get our bonuses this year... It's really ki-ling my motivation to work.
@eh You have incorrect information. Tons of associates have been laid off since last July besides those going to Accenture. A lot of it is being kept hush hush because that’s how we role now under the new T. Rowe culture. Not sure how don’t know about the terrible stock price over the past 5 years and the ongoing outflows that we have been experiencing for years now.
These layoffs have nothing to do with stock price or TRP performance. They are directly related to the fact that TRP is outsourcing all of it's IT function as well as several large business unit functions to Accenture. These layoffs will continue over the next 12 months until all the associates in the affected BU's have been let go and replaced by Accenture workforce.
@as there is no need for profanity when replying to your colleagues.
Also, you are wrong. Layoffs almost always follow stock declines. Both are related to earnings growth but stock reacts faster.
Maybe IT should not comment on business matters?
@aa Like there is a direct link between the two. FFS.
Why do you think there will be layoff. Stock is doing well.
@OP Very soon!