They don't give a damn about us, they don't give a damn about the company, they only care about their own bonuses and whatnot. Sharps is quick to lay people off and he's making millions of dollars! His pay went up from nearly $13M to $19.5M last year and for what? So he can turn around and lay off hard working employees? He's done nothing good in his few years here.
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@cen longnecks of the cheapest lager in the car park followed by KFC
@djd why not on my yacht? I would love to have you on it
Christmas party? Thinking either Ibiza or Bora Bora. Cape Cod would be easier for everyone but a business class flight to somewhere further away is always nice.
@jw hey buddy, you guys going to get a team Christmas lunch this year? Curious as to which teams are kicking on
@1be "all the solutions people hired in the multi asset group they spent on and so demanding on resources with nothing to show"
Don't you know? They're gonna have 180 thousand zillion assets under management by..whatever year Seb picks out of his you-know-what.
He guarantees it.
Another waste...all the solutions people hired in the multi asset group they spent on and so demanding on resources with nothing to show
@OP VOTE THE BOARD OUT! They are all loyalist cronies who get paid a ton and travel to fancy sites, all while being wined and dined by management. A huge raise for Sharps after overstaffing, overbuilding OM and regional offices, building an ineffective marketing bureaucracy, all while outflows continued? We missed every major trend -- ETFs, passive -- all while doubling equity investment staff (TRPIM), becoming a woke organization and hoping retirement would save us. Zero foresight. Fire the top management and the board. Layoffs will continue over six months in a large-scale restructuring to finally face the reality that we are going to slowly shrink, not grow. FIRE THE BOARD!
@sh Thanks for taking the headcount Australia! Yeah double the headcount but so much outflows. I think AUM for the office is less than what it was a few years ago and that's despite equity markets and funds going up 50-100% in the same time.
@jw Bruh you would be tripping over the Sydney office! They got snacks, imported beer in the fridge and wine in the cupboards. They got shiny coffee machines and a new office. They moved into a bigger office a few years ago and it's empty as. Headcount almost doubled in a few years. Laughin at the rest of us dawg!
@jw The investment leaders provide lunch every Friday at HP as a reward for employees who show up that day.
Investments is the only area TRP cares abt keeping happy. No other area in the firm is safe from layoffs. Guess my team xmas lunch at the Green Turtle is canceled, while London and Investments orders lobster, open bar and Circus Olay for entertainment.
Joe
Do as little as possible going forward. They sacked dedicated, tenured employees like it was nothing. Compensation will be tight this year, if any. What's your incentive for working hard, not getting laid off? They'll do it anyways and even if you make it, they'll want you to do more for less while the company rakes in billions a year in profit.
@b3 I could not live with myself doing what they did. I guess it happens across the business world, but I wouldn't need many millions to be happy. I dread calling the "new Helpdesk" this fall.
@av I never heard that. It is not published very well, or it's probably all for people above my pay grade. No one on my team ever got this and my supervisors never mentioned it. Guess we're not in "the club".
This can be asked of any CEO and other C suite executives at any company, but how many million is enough for them to be set for life? The people at the bottom of the ladder are the ones doing the work that matters and making the least by comparison.
FWIW they give away club level seats as rewards.
@OP Yep, I guess all of us facing layoffs this year can feel good knowing we helped pay for his huge salary increase. I am disillusioned as this was one a stellar organization. Shifting work to 3rd world countries won't pan out as well as they expect it would. It is insulting as the rest of us had to PROVE our knowledge to get jobs here. Now we have to train our replacements. They force return to office and DEI yet in the end they farm work out to people not even in the country who will never come in and "collaborate" and they wash their hands of hiring from the various groups because a contractor handles it now. They could have enforced DEI in the contract if they cared. Oh well, while we are all watching the firm's name tattooed all over Camden Yards from the standing room only area in the blistering sun, remember they are all up in an air conditioned suite enjoying life. Other companies with suites allow a few games to be lotteried to rank & file staffers. I notice they have never done this. I'm disgusted.