Hard that Ram processing department is getting leased out. Like 529 and workplace 401k. And at the qsm leadership pretty said that there is no correlation with rob big salary and the layoff but jobs are secured. And question they sold the location in fl for a leasing back opportunity, but fl reps are in cos and om.
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@11d still hiring a minority employee, just not the minority you want. Certain Homogenous countries are more successful and offer a much greater standard of living.
Affirmative/ DEi action is a covert admission of inferiority
TRP is throwing away their legacy of being a respected and honored company over the DEI movement that history will list as the thing that brought down this venerable institution for promoting racism, and discrimination and too many phobias to mention.
@11d @11d To your point about the balance sheet- it makes perfect sense for them to fire sale whatever they can to plump up the balance sheet. So bring in cheap unskilled foreigners on contract to show low no-commitment labor on one side. And thanks to selling off OM to developers, have a nice large amount of cash on hand. Then announce "collaboration" with Goldman Sachs. My prediction - this place was managed into the toilet, best option for shareholders is to sell to a bigger fish - and current "leaders" enjoy golden parachutes. I'm waiting to see little signs along Painter's Mill Road and OM Parkway advertising "Furniture sale" at 4515 Painters Mill Road, Owings Mills, MD 21117. "Desks, Office Chairs, Microwaves, Hip Cube-shaped Furniture, etc."
I'm not an expert in these matters so looking for some education here. It seemed when T Rowe was doing well - i.e. growing AUM - they owned their real estate. I know they own OM, and it was rumored they owned Red Run before moving out. Now they seem to want to lease. They are also bleeding AUM constantly. Is it really an advantage to lease and not own? Real estate is an appreciating asset, and you'd think a business like T Rowe would want such an asset, if not to use then maybe to rent out. But selling and leasing back seems to be their new thinking, and the business leadership now seems to be having trouble steering this ship. So I guess the question is should we worry about this trend giving other not so great decisions made recently? Or are these sound real estate moves?
I have to say, it was rather disgusting to learn of any of the plans for OM because someone on our team is a Sun subscriber who sent us the article. With the way these layoffs are being handled, and the way that news was disseminated - I feel like they are working against us and not with us. If they were going to sell buildings, they should have taken the opportunity to lower their RE footprint and let people continue remote work. Dragging us in office does nothing for our team. If we had assigned desks it would, because you would be near your colleagues all the time. But with flex desks I am always sitting around people I have never seen before despite being in our "neighborhood". And many are inconsiderate when it comes to loud conversations. Flex Desks were fine for 1-2 days a week in office, but 4 days a week, why make people perform this Hunger Games type ritual where some groups take turns being online at 12:01am to go in and reserve all of the desks by the window - reserving 10 desks or more at a time. And I question the collaboration (and DEI narrative BTW) when they take a diverse group of workers, fire them, and let a homogeneous group people in another country take the jobs. Why doesn't collaboration apply to them?
Only place space is an issue is the new building. I get on conference calls with people sitting in the weirdest places. Florida property is long gone and developed into industrial flex space. OM has whole buildings that are empty.
I heard today that OM does not have the room for bringing back associates four days a week and they have to figure it out by Sept 19. Guessing layoffs will happen before then, alongside the departure of HelpfDesk Sept 11.