Thread regarding FactSet Research Systems Inc. layoffs

Order of operation in coming wks:
T&E Freeze: Done
Hiring Freeze: Done
Org changes: March / April
ELT changes: March
Lay-offs: April
New leadership: March / May

@1zh

They may have no choice soon

Consider making CUSIP redistribution free, and you might turn your stock price around. You can still make money on CUSIP issuance. You need some good press right about now.

Not everyone who reports or matrixes into Helen is Finance, id--ts. Look closer at the chart.

But HR/Training is quite bloated, I'll give you that. And we get very little value out of it too. I hear from "senior engineers" who don't know a damn thing about software engineering every day

@136 six years in and not a single option I've received has any value currently. Zeroooooo

@12x sad but true. Both worth nothing. I got CEO award for 35k at around 400 - consulting manager and none after. I was told to hold but not sure I can do anything now

Safe to say those of us who received Options (not RSUs) have been working for pennies on the dollar the last few years.

Must be the blabbermouth HRBP in Boston complaining about the size of HR org, along with the other Yentas in that office and the wider HR organisation gossiping about everyone while sitting at home 99% of the time. They seem to have opinions about everyone and usually negative. They expect everyone else to be in the office but exempt themselves from doing it. AI that whole org and won’t miss a bit

@127 soon will be $150.

Wow. Is there a bottom to this stock bloodbath ?

We were, at best, a 3rd tier side-show operation behind Morningstar and Bloomberg. Now, AI will seal our fate. Time to jump ship or go down with it.

I doubted the #s but they are actually correct when I checked all employees in each org. When did these orgs get this massive? Sad to see where we need bodies and where they are today. Not sure if we need 200-300 in HR org. Don’t even understand some of the of the titles.

@pm Fine, I dint run a report but those numbers are super sus.

checked and those stats are correct - run the list builder, workday report or even HRIS and look for all reports - must hit the nerve with one of the 300 staff in HR.

@mh OP, I can’t tell if you are incompetent or just a liar but I checked one of your quoted departmental headcount’s in Workday and it was no where close to what you are stating. Significantly less than half of your figure. If you want to bash the company, which is your right, at least get your sh--e together.

The problem isn’t the number of them as much as their lack of business acumen. Most of them are clueless about FactSet’s business and what different teams do. What is their KPI? Gossip? Creating roadblocks instead of being enablers for ASV?

Notice their titles - Global Director, MD blah blah.. they’ve inflated their titles and pay without creating any value when it comes to HR, Learning or Talent Development.

Having a well funded HR, Finance and Marketing makes sense when it is aligned with sales and product to fuel growth. Here, it is a case of power tussles which lead them to shooting themselves in the foot ( and damaging others) just so they seem like they are in control, following an obsolete rule book.

Creating / fuelling drama to feel useful is easier than admitting they are limited in their understanding and contribution.

This must not be right. Can’t be this big of org. Over 1000 people cannot be right. HRBPs add nothing to this org as we have other HRs covering HRBPs. Zero contribution from all of them. They come after once you inquire about something.

FDS let HR and Finance run the company instead of product and sales. The minute we allowed that to happen, we knew it was the beginning of the end for us. Look at the stats below:

Finance Org: over 750 people
HR Org: Over 325 people
Marketing Org: Over 90 people

This is why we are pausing hiring and cutting T&E. Have you ever seen cuts and layoffs happening in any of these three orgs? NO because we funded everything through sales, products, and engineering.

We went from BRGs and DE&I to operational company led by HR and Finance. Missteps like this put companies in trouble and no point of return.

@k2 Haha.. yeah.. at least optically wellness is prioritised.

I assume CPO is chief people officer.. wonder if she knows that’s her role..

Not only management level, some at individual level as well. Only replying to people with power, has been around for years, management allowed this.

It's ok at least there are great perks like the Wellness Days

@OP who is the CPO?