Thread regarding T. Rowe Price Group Inc. layoffs

“The Culture Speaks for Itself” — But Is Anyone Listening?

The “first of many” associate all-hands left a bad taste in my mouth, for more reasons than I can fully articulate. The shift to the Harbor Point studio was the first jarring departure from the cozy, informal town halls we had grown used to before this latest regime change. The broadcast felt more like a morning news segment than a company conversation - cold, staged, and impersonal. One thing was abundantly clear: the C-suite is not part of “us.” They operate separately, and we’re meant to feel that distance.

What followed were prewritten speeches, read from teleprompters, filled with buzzwords but lacking substance. The central message seemed to be that TRP is poised to capitalize on the next economic opportunity - but what that opportunity actually is remains unclear. And apparently, we’re not meant to ask. If the goal was to model an “AI-first” approach by delivering generated, impersonal messaging, then mission accomplished.

The most disheartening realization, however, was the unmistakable confirmation that the legacy TRP “people-first” culture is gone. I’ve watched this erosion over the past decade, but never has leadership been so transparent in its lack of consideration for employees and clients alike.

We sat through an hour of “new strategy” with barely any discussion about improving outcomes for clients or associates. The AI-focused approach, poorly thought through, centers on doing the same work with fewer people, relying on efficiency gains that feel more aspirational than realistic. Questions raised in Meeting Pulse about costs, risks, and whether our existing infrastructure can even support this strategy were noticeably ignored.

Most striking, though, were the repeated references to our “thriving culture.” The disconnect was hard to miss. The culture is speaking loudly - through Meeting Pulse, through forums like The Layoff - and the message is clear: employees are struggling. We’re dealing with internal friction, outdated technology, and a lack of focus after years of layoffs and reorganizations. Incentives to perform have eroded.

Compensation cycles have been consistently disappointing, with market conditions and outflows cited as justification, even as executive compensation continues to rise. Investments are being funneled into a new headquarters and high-profile marketing partnerships, while associates are quietly laid off and replaced with offshore labor. This isn’t “doing more with less” it’s being asked to do less, with less, and somehow maintain the same standards of quality.

At this point, our ability to deliver meaningful work is being undermined, and the prevailing message from leadership seems to be that we should feel fortunate just to be employed.

Today’s all-hands felt disingenuous and, at times, insulting. But more importantly, it made one thing clear: what leadership values is not aligned with the people doing the work. The culture is speaking, but it stands in direct opposition to the narrative coming from the TRP ivory tower.


by
| 93 views | | 26 replies (last May 9) | Reply
Post ID: @OP+1kqftk6p9

26 replies (most recent on top)

@f5 Not sure if the comment was by an Accenture person or not, but let’s be honest here.

We’re paying these guys a fortune just to open support tickets and bounce ‘em around between 14 different people until nobody remembers what the original problem was.

At this point Accenture could cut their rates by 90% and it’d still feel like a waste of money.

by
| | Reply
Post ID: @1g7+1kqftk6p9

@11e Where is the Board? Very much active. they just gave management a huge raise.

by
| | Reply
Post ID: @1dm+1kqftk6p9

@18q 😂

by
| | Reply
Post ID: @19y+1kqftk6p9

@fn If only they were so quick to resolve simple support requests!

by
| | Reply
Post ID: @18q+1kqftk6p9

Where is the Board? They need to start holding the executive leadership team accountable for 5 years of poor performance.

by
| | Reply
Post ID: @11e+1kqftk6p9

@fd OMG the immediate multiple downvotes. Golly that’s hilarious!

by
| | Reply
Post ID: @fn+1kqftk6p9

@f5 Amen! Like the luddites of old they will be gone soon enough though and we can have progress.

by
| | Reply
Post ID: @fd+1kqftk6p9

I suppose it’s a decent company; they certainly have plenty of cash. But that soft, 'cushy' environment is exactly what attracts toxic sociopaths. It also breeds complacency, making the company stop questioning whether it’s actually on the right side of change. The era where long-term investment pays off could end at any moment. Past success is no guarantee of future survival. First, you need to clean house. This company is sick. Use AI for the treatment—because once humans get involved, internal politics make it impossible to see what’s actually broken. Distrust thy neighbor.

by
| | Reply
Post ID: @f8+1kqftk6p9

The company is changing. Not because it wants to change but because it is a mediocre business in a shrinking market. Support services are the first domino. The faster our self-sanctimonious IT folks realize it, the better it is for them.

You are not entitled to work life balance. Your daycare is not the company’s responsibility. Each one of you costs as much as 5 Accenture employees. Get to terms. It’s called business

by
| | Reply
Post ID: @f5+1kqftk6p9

@bh Salary and health insurance.

by
| | Reply
Post ID: @d7+1kqftk6p9

@ba oh I see that writing on the wall! IMO the current gutting of the staff is the prep work. it’s just a matter of how long this unpleasant phase is going to last. for someone who started here when this was THE place to work it’s crazy to see what it’s become in such a short time.

by
| | Reply
Post ID: @d6+1kqftk6p9

I honestly want my boss fired as soon as possible. She has zero motivation and disappears to God-knows-where during the day. While I'm driven and want to take on new challenges, she just shuts me down without even listening whenever I share my vision. She never remembers a single thing we've discussed—it's at a level where I seriously doubt her cognitive health.

by
| | Reply
Post ID: @ch+1kqftk6p9

@bk it seems you’ve missed the point of the post.. no where did it compare the experience and ideology of TRP to somewhere else. Things can be bleak here, and have deteriorated compared to a decade previously, and still be preferred to another company. They aren’t mutually exclusive. I’m not sure why OP should be forced to leave when they likely have more tenure than half the decision makers combined.

by
| | Reply
Post ID: @bz+1kqftk6p9

@bj Strange that you wouldn’t be able to find another job when you are such an amazing employee.

by
| | Reply
Post ID: @bk+1kqftk6p9

@bh Stupid comment. Job market is tight fool, and people have bills to pay..

by
| | Reply
Post ID: @bj+1kqftk6p9

Why do you stay if everything is so horrible?

by
| | Reply
Post ID: @bh+1kqftk6p9

@aj partners are Goldman Sachs and JP Morgan, not Accenture. Pay closer attention!

by
| | Reply
Post ID: @ba+1kqftk6p9

Solid synopsis. Not sure what culture they were referencing, but it was not the culture that once made the firm a very desirable place to work. Back when everyone was actually in the office all the time.

The men aggressively reading their scripts and allowing the female CFO a sentence or two was a far cry from the more thoughtful, intentional tones of times before. We’re not the Ravens, stop with the sports team vibe.

Or maybe they were trying to simulate being in Camden Yards like the logo.

It just came across as though if they say all those same things louder and faster, we would buy in. Thing is, good leaders model a healthy culture with their words and actions. And people just aren’t going to feel excited and motivated in a culture of fear. Leadership has made it clear through their words and actions that associates are disposable and not valued.

So here’s to the next 90. Hope we all make it through.

by
| | Reply
Post ID: @b4+1kqftk6p9

@ax right? how insulting to those of us who have supported this company for years

by
| | Reply
Post ID: @b2+1kqftk6p9

Unfortunately, a major recession is coming, and I expect we will see an additional 1,000 layoffs by the end of this year. In three years, I think around 2,500 people will have been let go. Even if the quality drops somewhat, I believe we'll transition to an operating model that heavily relies on AI and offshore resources. Five years from now, the total employee count will likely be down to around 3,300.

by
| | Reply
Post ID: @b1+1kqftk6p9

@aj I couldn’t believe when they justified that they were strategically offshoring position to gain access to talent not available otherwise. From my experience with our new offshore ‘partners’ I don’t believe they have a single relevant line item on their resume that would qualify them for a position on our teams. Work is painfully slow, filled with defects, and the resource turnover due to incompetency is astronomical compared to even the worst contractors we’ve hired. This is not a talent decision, it’s a budget decision and the work is suffering

by
| | Reply
Post ID: @ax+1kqftk6p9

They came across as genuinely committed to AI, but they should be explicit about how well the leadership team actually uses it themselves. Right now it just sounds like they’re parroting what strategy consultants told them — there’s no sense of personal conviction from the executives.
It’s the textbook behavior of a shallow, unskilled, self-deluded investor: throwing money at whatever sounds good and then taking credit for it. If Rob genuinely believes in this, he shouldn’t just be pushing the “invest” button — he should be able to articulate, in concrete terms, how he himself has been using it and how it has changed him.
Frankly, this doesn’t demonstrate competence as an executive, as an investor, or as a leader.

by
| | Reply
Post ID: @as+1kqftk6p9

Am I the only one who has viserol reaction to the word “partners” in these discussions? They almost seem giddy at the thought of replacing their once valued workforce with the lowest bidding “partner “. I physically cringe when they mention it and it’s often.

by
| | Reply
Post ID: @aj+1kqftk6p9

One of the reasons I come to this site for the rare moments of absolute clarity like this. I was actually confused when I began watching as the video as it looked fake like AI infomercial filmed at "Harbor Point Studio" (ugh). It was kind of like watching the fake news segments in movies like Independence Day.

My two takeaways were the ignoring of employee concerns and the focus on "efficiency". I am guessing their Accenture Partners have something brewing that involves both AI and their workers that will emerge by fall. I hope I am wrong, but they have already gone very far down this path, and as I have watched coworkers go from dreading this as much we do to suddenly being "all in" because of the possibility of getting another bonus check. The cold sterile precision with which these "transitions" are being carried out shows me there is no longer any appreciation for employees. Anyone you trust as an ally will turn on you in a heartbeat for the chance at another bonus check. Keep your eyes open and know that this is a whole new mentality at the top. Many of them are not even from Baltimore or have only been here a couple of years, they have no attachment to us or the "T Rowe of old". They on focused on their own wins only. Moving their own careers forward and making themselves richer is the only thing that matters now. Good luck!

by
| | Reply
Post ID: @ac+1kqftk6p9

all this.

by
| | Reply
Post ID: @a8+1kqftk6p9

Well said!! THANK YOU for this post, this is so accurate! You have captured and communicated what the majority of us think and feel! It was clear that those at the top could care less about the employees that make up the majority of the company! I value everyone who posted questions in Meeting Pulse, although it appeared the speakers did not. They appeared to ignore and get physical frustrated with our questions!!

by
| | Reply
Post ID: @a5+1kqftk6p9

Post a reply

: