Some in APAC were let go this morning (APAC time) and some are being invited to a meeting in EMEA and US now while I am writing.
48 replies (most recent on top)
@2wz same same but different
What's the difference between GSM & BM?
@tj is she constantly out catching up with people over coffee looking for a job? Often will talk about her previous firm even though she hasn’t been there for a few years? Smaller office OUS? Think I know
@13h oh god this rings a bell. Had to go along with this doozy at the time to be a good team player. Distribution is mostly full of id--ts and lazy sloths. We all had a good laugh at this one.
@18y Dropping the 'Nice' tag was an explicit goal of the big boss.
Based on these threads, management finally did it: T.Rowe Nice is dead
@164 mommy… grilled cheese sandwich… oh no, sales doesn’t roll like that. Steak with my beautiful family in my mansion overlooking the water.
@164 Certainly not over yet. Another several months of this to come. Small number of departures every week, drip by drip.
@15n Well, you know layoffs are not over yet. But then again, judging by your less than intelligent posts, you are the kind of dou--ebag that would fit in during this era of the firm. Congratulations, I am sure Mommy will have your grilled cheese sandwich waiting for you when you go home today.
@11v Couldn't care less. Laughing stock or not, still getting handsomely comp'd and don't really need to work anyway. Happy Holidays ;-)
@13q some strategies are performing well right now and they can’t even sell that
@ws this is a pathetic attitude if held by anyone in sales.
If all you’re doing is selling in the good times, or good performance, where’s your value?
@13h I think it’s the minority that are intelligent and hard working in that team. Most wouldn’t know how to sell an outperforming equity or fixed income fund to save the company, let alone have the drive to do it.
11v is right, they are a joke and a disgrace. Pushing a once great company further into the ground.
@11v 100% sick of the glib, lazy sales people at this firm. Not all are but there are a few that get enabled and it needs to stop. One of the sales team leaders had the absolute nerve to say his job was a “client specialist” who has to know the client and that PSG was supposed to be the ones who had to know everything about the strategies. Just a manipulator way of saying he is too lazy and stupid to know what he’s selling. Or not selling more like it.
@11f you do realize Sales is the laughing stock of the entire firm, right? You’re a source of relentless mocking, including from investments. We all joke that you couldn’t sell water in the desert.
@ws that’s disparaging to some many associates. There are some amazing products that TRP has, staffed by some really smart people and do have good long term performance. If you can’t sell any of them, maybe the problem isn’t the company’s products… maybe it’s you
@ww Somebody is triggered. Su-k it up. It's a great life in Sales...
@OP news from another poster on here was that GCAS lost ten. Do you know how many GSM lost?
@ww don’t get out of bed for more than a one billion dollar mandate
@ws yeah, someone’s got to around here. We can’t all just “strategise” and “plan” and only have an occasional coffee with a client. Try knocking on some doors.
@v8 You tried selling the firm's product?
How many layoffs in GSM actually were there?
@p8 disengaged? Have you seen the sales people???
@r6 hahaha! The company’s bent over backwards for her. Hired her in to the company for one job when she didn’t want to do it. She changed roles soon after to something she said she wanted. Again not happy and seems to be causing issues.
I get when people at this company are looking for jobs when they’ve been hard done by. She’s the opposite though. It’s really sad as it comes across super ungrateful and entitled.
@p8 she not worried about getting laid off?
@cz that’s got to be soul crushing right? Knowing your task and work is all for nought but at the same time having to do it just to have a job. No wonder why so many seem so disengaged. I’ve seen one of the Fixed Income PAs constantly come in late, go for long lunches, leave early. Always on the gram posting photos from her holidays. And SHOPPING. My god so much bloody online shopping.
@ac anything you can share on the All Hands meeting?
@jz where are all these hundred GSM folk? Surely not
@jz 100? Reallly? No wonder there’s layoffs
@hy Not entirely sure what it does, but has about 100 people.
@as so what does GSM actually do?
The London GSM guy wasn’t that great at his job. He came across as very inflexible and a bit pompous, at least from my experiences with him.
@aq is that business management or GSM? I guess that’s the point though isn’t it. Got a few teams that do similar things that it’s inevitable someone’s got to get the chop given the state of the business and flows.
@ft if it’s a small team globally (GSM is not a large team) and a few people from each region are laid off, I would classify that as a big layoff. If it was one or two people in the team, that’s small scale.
@fe I do not doubt there were layoffs, but they really aren't doing mass layoffs. They cut people here and there to avoid the WARN notice thresholds. From what I understand there are 2 kinds of layoffs going on: Shedding members of teams to reduce headcount - those people leave immediately. And then there are the whole teams that get laid off and stay on a couple of months to train Accenture workers.
@f9 I’m not hearing a lot. OP made it sound like it was a mass layoff…
@ac GSM is a relatively small team from what I understand. There ain’t that many of them. Who survived?
@bc chasing leads with no chance of winning… um keeping PSG and RFP teams in jobs more like it
@bc yeah totally. Not to mention failing to chase down leads, not following up on opportunities and a truck load of other failures in selling.
@aw well someone should! Do you know how many times I’ve seen sales mix up which retirement product a client wants? Or show they have no clue how fixed income investments work? Or make support teams chase leads we have no chance of winning while fu--ing up opportunities where we were a great fit? CONSTANTLY.