Something is happening. No clue what. But all associates were instructed to work from home tomorrow.
"We will discuss important organizational updates and critical information about our organization."
110 replies (most recent on top)
@eh have you heard of good client servicing? You know RM is both new business and existing business management?
@es It's role eliminaiton so no replacements. Do the same/more, with less.
Is there any point in negotiating the terms? Any thoughts? They are giving a blanket 3-4 months severance pay
Today is the last day . Once you got off from the meeting with HR all access has been revoked and got kicked out from all devices .I didn’t even have time to remove any personal files .
For the folks impacted today, when is your last day? Do you have to train replacements? Who will be taking over your job responsibilities?
@ee was there a cap? I heard there was a max number of weeks last go round that short change long time associates somewhat.
i’m close to retirement but not quite yet but also planning for the possibility my number will be up before i’m ready.
glad it worked out for you!
@eb "No results"...look at the level of gross flows. The net is bad, but Sales does not control performance, Portfolio Manager turnover nor the fact that mutual funds are yesterday's product and going out of fashion.
@ee Don't accept a PILON. Stay on the books until the end of your contractual notice period so that all benefits etc are extended until the contractual end.
@e7 Mine appears to have been based on years of service. I got 2 weeks per year, pro-rated.
Absolutely no complaints here, as I was ready to retire anyway.
“We are committed to investing in marketing and technology”
Always lays off people in marketing and technology?
Dee Sawyer has been head of Global Distribution and continues to be allowed to make layoffs and not be held accountable for her failures as head of GD.
The company has turned into a disgrace. A CEO who has overseen stock price fall from $210 to $92. He gets a massive raise and others lose their jobs.
A sales group that consistently wastes money extravagant outings and meals and no results.
Rob Sharps and his lead team need to be held accountable and removed from office.
@e5 i mean, i was told they'd send me info on COBRA so... what a fu--ing joke. i'm in this ebb and flow of utter sadness and worthlessness to complete rage.
@e7 i've been there 4 years. but not sure how that was taken into account for the payout.
@dy as soon as she logged off she blocked her calendar and marked it out of office
@e3 was the number of years of service a factor in the severance package or is everyone just getting a standard 3-4 months lump sum payout?
So sorry to hear about those impacted. I’m confused about why I’m learning about this here and not officially yet…this should be large enough to need to announce, right?
@e3 that's such a sh---y package to offer, especially ending the health benefits so soon. That's just salt on the wound. So sorry to hear
@e3 same :/
for those of you who are curious... or might find yourself in a similar spot next month. the meeting with leadership and HR was brief. maybe 5 minutes. no prolonged severance - just a lump sum payout. which will likely get taxed like our bonuses so i'm not going to see half of it. benefits are only covered until the end of the month. and my family is on my insurance so now we have to scramble to find coverage for at least the kids in the next 2 weeks.
@e0 it was Dee since she’s head of GD. She’s a robot, and not the cool kind like Data in Star Trek.
@dy Who led the meeting this morning? Name and shame
@dt my team was US based.
@dq damn I’m sorry.
Sorry to everyone involved is this insanity. Absolutely cruel way to do this.
Was there any indication what the scope of this new round of cuts is?
@dq oh no. I’m so very very sorry. This is all awful and I hate it here. Wishing you all the luck and finding a better opportunity.
@dq all US on your team or some EMEA and APAC?
@dp Just another corporate zombie.
It's the world we live in.
Yes it’s layoffs. Just got an appointment for a call at 9. Been a pleasure, wish me luck.
Me, my boss and one of my direct reports were let go in Digital.
@dk that sh-t was so obviously AI written, too. At least do us the fu--ing courtesy of writing something authentic.
@dm management is pi---d people leaked the layoffs before they gave the press statement in July. These fu----s now just want to punish their employees as much as possible for their own incompetence. Ba----ds all of them can go burn in he-l
I do not understand this approach. If I am going to be laid off, just tell me without notice. Having us all wait since yesterday is a terrible method.
5 min, heavily-scripted "webinar" in which it was said those affected in EMEA & APAC have already been notified, and that NA employees will be notified by 8:30AM
@df 8:00 am ET
What time is this meeting scheduled for?
@c0 I think it’s the same thing. A few people got chopped late last year. So much rumours here…
@ax does anyone know what happened in the APAC meeting? I’m assuming they got told before USA and EMEA because it would be Saturday for them if not.
@c0 sales, sales enablement, sales strategy, sales sales, WHATEVER, all the same muppets
@b5 what’s global distribution enablement? Is that like the sales management team that got hit last year?
This all sounds bad. Same bonus next year?