Thread regarding Raymond James Financial Inc. layoffs

Who is responsible for deciding who to lay off?

I don't know all the people who were laid off yesterday, but those that I do know are some of the best workers this company has ever had. Why in the world would they choose to get rid of them?

I don't want layoffs on anybody, especially during a pandemic, but there were much better choices to be made that would have actually benefited the company. What they did will end up hurting it.

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| 2232 views | | 6 replies (last September 25, 2020) | Reply
Post ID: @OP+16YhvWei

6 replies (most recent on top)

I third that these were some of the best workers the company has ever had. They laid off the second hardest working/smartest person on my team (first being our manager). This was a hack job.

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Post ID: @9aph+16YhvWei

My opinion, it depends on who the Manager likes regardless of the performance. I know of some people that have been there many years........decades that our less than a positive asset to RJ. But they are still there because they are LIKED by the Manager.

It's all in who the brown noses are. I am not one, that's why I'm gone.
They make people Managers and Sr managers who are not competent, but FRIENDS of the Manager.
I am happy because the brown nosing was disgusting to me, glad they pushed me out.

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Post ID: @1fcf+16YhvWei

From my personal experience from the people laid off in my group, I have a guess that HR went to each manager and said they had to let X number or percentage go, and the manager chose who.

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Post ID: @1mkz+16YhvWei

I was laid off yesterday after more than 20 years of service, and most of the people laid off were terrific employees, and strong, dedicated leadership (obviously there may be a couple of exceptions) but I agree that these were some of the best workers the company has ever had. This is going to be a problem for RJ.

Is it possible Paul Reilly is just setting it up so that the numbers look good for a sale of RJ? All of the James family is out. The sons were not interested in taking over the company much to Tom James's dismay. Looks like a sale might be an option for RJ.

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Post ID: @cjy+16YhvWei

I've seen a couple of replies...agree on the high earners, over 50, and if your leadership likes you....Hard right now for folks to see beyond yesterday, but believe me, there are opportunities. Stay positive, have faith....

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Post ID: @fgl+16YhvWei

Don't know who decides but at times wonder if it's better to lay off someone making $100K and is good than someone making $70 and is ok at work. I guess if they need to reach a number of $$$ saved it would help to trim some high earners.

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Post ID: @fyh+16YhvWei

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