People were let go with no warning. None. That's the scariest part of this whole thing to me. If there had been at least some indicator, something. But being a high performer and one of the most experienced people there, only to have the rug pulled out from under you like that... I feel so bad for them.
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What a time to execute the layoff - 3 months before year-end review. Now they won't have to deal with all those compensation increase. And all the extra hours I've put in recently to meet the project deadline for nothing...
@g1 suffice to say he won’t be starring in any TV series anytime soon. The fake empathy, dead on. Would like to see them justify the so called “necessary expenses” if their comp was getting cut instead.
Next round coming, Product and RCS next few weeks. Start prepping resumes while you have time.
I find it funny (not haha funny) that they said the layoffs were indiscriminate of performance and they were "eliminating roles" in response to questions about why people on PIPs were kept, as if that made it better. Why would you not use this as an opportunity to cut dead weight and not add additional burden to teams by cutting top performers? Also the fake empathy was so palpable it was hilarious...CTO needs acting lessons.
@OP All I can say is, I've been outside for factset for a long time and I have been wondering what took them so long.
More is coming. PD next and then RCS
It is ruthless for sure, but necessary for protecting confidential information and prevent those people from doing damages. Honestly I do not feel too sorry for the high performers. If they're valuable and capable, they can find other opportunities easily, which might be even better than FactSet and unlock new pages for them. If they cannot find new opportunities, that means they are not worth what they are paid for. Either way it could be a good thing.