It’s been six weeks since the July purge, and the fallout is still being felt. The job market is brutal, even highly qualified people are struggling to get a single response.
Inside T. Rowe, the situation is even worse: leadership incompetence, suffocating micromanagement, and a relentless push to offshore jobs have left current employees on edge. The once-respected name of T. Rowe is crumbling, and morale is in freefall.
If you’re still there, don’t wait around and protect yourself before you’re the next one cut.
11 replies (most recent on top)
@190 You just validated my "unless you are going into plumbing" comment. It's a different industry that has some degree of protection against the automation/consultant nightmare more big white collar corporations are in right now.
@18d This is not accurate at all. My husband works at company that makes HVAC and chillers. They are making out like gangbusters, at least in their division. He just got a promotion and a big raise. They are always getting bought lunch and company polo shirts. Not at all the soviet style austerity plan at TRP. And I know someone else who went to be a developer (remote) at a company that makes drones, and they are growing as well. There are companies doing just fine right now. My guess is you have TDS or you work in HR or are one of the soulless people who sold out fellow Americans for foreigners, abandoning the notion of collaboration and DEI. In fact, you probably have the Accenture contract on your desk. Companies tend to do this to clear up the finances before selling themselves. Then we get a Rob Sharps vid drop about Goldman Sachs. Contractual cheap labor is very attractive on a balance sheet - no layoff headaches should not not want them, and light labor costs if you do.
You all realize that EVERY company is a sinking ship right now? I walked away from a "sinking ship" and made significant tradeoffs in pay/title to be at TRP in a flight to perceived safety. A smarter person would have waited out for severance doing the bare minimum and taking advantage of every corporate benefit while it was there. Unless you are going into plumbing, I suggest buckeling in and reskilling with a paycheck because it's just as much of a s--t show everywhere else, you very likely wont know what you're walking into, and everyone is pulling the same levers, with the same consultants, making the same promises re: automation. Consider the dumpster fire with the greatest potential package out and milk it while you skate and level up to better protect your future. Layoffs are happening everywhere.
@ew T Rowe will be much POORER without the dedicated Help Desk, Service Desk, and Command Center staff who have navigated this Firm through so many tech issues. T Rowe Price will get what it pays for. Chris L and Ramon R and Kim all apparently did this in past jobs like Fannie Mae. They look at US workers with disdain - but they do not volunteer to let foreigners take THEIR jobs for cost savings. All of you will be missed, and I am in an area that can be offshored and our team is pretty much expecting it and looking to get out. Foreign contractors will never hold this place to the esteem long time employees have and this lack of both knowledge and loyalty will be apparent. I would not be shocked if C suite hired a good tech support just for their office so they won't have to deal with these inept folks. Best of luck to our colleagues leaving too soon from this place.
@dz Sounds about right. I had heard earlier they were in the Philippines, but they all seem to be Indian - at least the names I saw.
@dz person I spoke with was to understand but you can tell they had no clue what they were doing
@dz Good luck with the Help Desk replacements... because whew boy, they're going to be bad. From those of us let go from the tech side: It was a pleasure helping you all, getting to know all your names and voices. We hope things improve for those of you that still have a job at TRP, and for your sanity's sake we hope you don't have any tech break for you any time soon. God help you if you do, because the Desk probably won't know how to.
We'll miss working with you all. ❤️
I heard they are onboarding around 100 Accenture employees. All from Asia. Also heard that the new help desk is very hard to understand over the phone and new to working on a help desk or the windows platform in general.
@a5 I have no idea why they posted my post twice. I clicked submit once.
@OP Word to live by. T Row is a sinking ship in my view. These managers did not pay attention to industry trends which led to gigantic outflows that are still continuing. I guess at some point someone got called on the carpet by the shareholders and they sold them on taking money paid to competent employees and instead hiring cheap 3rd party workers who will never have the dedication and loyalty we all had. I had a pride and appreciation for being a part of here. Not anymore. And with the "savings" lets plaster our name all over local sports venues. They sc--w Baltimoreans by taking jobs away, but cosplay they are still "part of the community". They should focus their advertising dollars on football stadiums in India - a growing number of their workforce will be there. I personally would rather be watching this disaster from another boat, and am working on that right now. From what I see of their plans, I do not see a reverse in the outflows coming any time soon. They are do tone deaf I gave up.
@OP Word to live by. T Row is a sinking ship in my view. These managers did not pay attention to industry trends which led to gigantic outflows that are still continuing. I guess at some point someone got called on the carpet by the shareholders and they sold them on taking money paid to competent employees and instead hiring cheap 3rd party workers who will never have the dedication and loyalty we all had. I had a pride and appreciation for being a part of here. Not anymore. And with the "savings" lets plaster our name all over local sports venues. They sc--w Baltimoreans by taking jobs away, but cosplay they are still "part of the community". They should focus their advertising dollars on football stadiums in India - a growing number of their workforce will be there. I personally would rather be watching this disaster from another boat, and am working on that right now. From what I see of their plans, I do not see a reverse in the outflows coming any time soon. They are do tone deaf I gave up.