I've heard good things about the company and I'm considering applying, but it's always good to check on things like this beforehand. The fact that there are no posts here (the page for my current company is constantly active) gives me hope. Thanks in advance!
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I agree with this post. I was a crew member back in 2002 who was terminated ( or in Vanguard terms... I had to walk the plank ( ha ha!)). Even back then ,they never admitted to actual layoffs but they did do the stealth layoffs as this author mentioned. My whole experience started with me getting a bad job performance review from my boss and then it led to a PIP and then my job was terminated a few months later. At the time , the Philadelphia Inquirer did a few articles on the layoffs and they spoke to some former managers who did say that they were told by their superiors that they needed to fire so many employees by a certain time frame and they had to start the process by giving out a few poor job performance reviews to targeted crew members. I worked at Vanguard for almost 11 years and I learned a lot and I met some good friends there. The only thing I would say is that you definitely have to schmooze and be a corporate cheerleader in order to move up at Vanguard.
They've been cutting a lot of contracts lately. I know of at least a dozen+ who have lost thier jobs there. They are also posting jobs that are going unfilled. I wouldn't consider them a stable employer at the present time.
Woke
They hire a lot of contractors so they can always just end contracts, which aren't really "layoffs".
Yeah, I agree that it was dysfunctional. Either come early in your career, because they will pay your school loans, or later in your career. But realize that no one is held accountable, you will never be paid well, management is terrible, and HR harasses people until they quit. Recognize that most of the people who are employed there aren't needed to run the business. It's a job program for Malvern, PA people so the company can get a tax break. If you are ok with working with people who create a DMV like environment, then go for it. It's a great job for people who have no ambition.
This is literally the most dysfunctional place you will ever work. Vanguard is described as "quirky" which just means dysfunctional. You are never paid well. Your job is always just button pushing. Leadership is atrocious. You will probably get promoted for a while then stall out. Getting to higher levels is impossible. Good luck.
The official word has always been that there have never been layoffs at Vanguard. This is true in the sense that the word "layoff" isn't used here. There are a couple of ways that people are laid off: Stealth layoffs, i.e., you are coached out, either because you are not a cultural fit or management has been told the need to rate a certain number of people in their department as not meeting expectations, even if 10/10 people are doing a great job. Usually done via PIP or seeking ways to ding someone as breaking policy. The other more recent trend is that Vanguard decides to sell off a BU or outsource some functions, and they are able to avoid using the term by either offering crew 90 days to find a new role in-house or convert to employment at the company they are being sold to. Happened with Infosys and more recently with a portion of Data Analytics crew.
It's a good company if you come in at the higher levels, and these days not if you're starting here early in your career (unless you have an in to the development program).