Rumor is layoffs are imminent the week of 07-14-25; between 5%- 10%
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Anyone know the details about the mass layoff that happen today?
If this forum is a reflection of layoffs, it almost appears IT have been decimated by layoffs much more than other teams. Can I ask which IT teams have definitively been outsourced? Also, which other teams have had meaningful layoffs? Doesn’t seem to be that many outside Operations.
@3dq Fun fact, Accenture does all of the programming for ServiceNow today. They implemented those changes that went into effect. I never thought ServiceNow could get any WORSE than it was. And there was no one to ask questions when they rolled out those changes, and I wasn't going to waste my efforts calling the "new" Service Desk or Help Desk.
Were there more layoffs this week? Late October?
Hard that Ram processing department is getting leased out. Like 529 and workplace 401k. And at the qsm leadership pretty said that there is no correlation with rob big salary and the layoff but jobs are secured. And question they sold the location in fl for a leasing back opportunity, but fl reps are in cos and om.
@3be "They are also a great resource for all things ServiceNow"
No disrespect at all to the people in the Service Center, but "great resource" and "Service Now" are definitely two terms that don't belong in the same sentence.
I can only shudder to think what that POS app will be like when it's being supported by semi-trained techs in the Philippines.
@39b I disagree with this, and in fact, it is insulting to paint all of the laid off people with a broad brush. The people in the Service Center do excellent work. They constantly offer to take on more work to free other teams like the DBAs to focus on other stuff. They are also a great resource for all things ServiceNow and the procedures and workflows. They are being shown the door because people in the Philippines make 90% less than what Americans make. While I do agree there is likely dead weight in any organization, coming here and basically calling the people who lost their jobs, "dead weight", without having a clue as to what the circumstances were is just plain wrong. Should you become one of the unlucky ones, how would you feel coming here and seeing someone post garbage like this about you? Talk about hitting good people while they are down.
@2we It is true. Most of us have active social lives and relationships and don't just post on anonymous websites "Keyboard Warrior".
The need for these layoffs are driven as much by associate performance as they are by management’s decisions.
There are three groups of associates at T. Rowe Price:
The first third are deadwood. They know little about what the company does for a living and they behave like In-n-Out burgers.
The second third wouldn’t pick up a $20 bill if you dropped it at their feet. They avoid engagements, demonstrate minimal initiative and primarily care about their next promotion.
The last third do the work, innovate and add value, the same people who get blamed when things go wrong. They are terribly overworked.
Wake up: you’re at T. Rowe Price to make money for its clients and for the firm - you’re not there not to hand out fruit in the lobby for the latest trendy social cause.
Learn how the business works, add value and you won’t get laid off. Prioritize competency over diversity.
As it stands, an additional 10% could be laid off and it wouldn’t affect the company performance at all.
@2tz things that never happened for $100
@2sy I was emailing an old High School teacher. I had told him I was doing well, but worried I would have to find a new job and talked about how everyone was worried now and question stuff like the Orioles/Ravens/Harbor Park $$ when we are now broke. He told me he was not surprised as he apparently has an account with the firm, and he says customer service is terrible now. He noticed a marked difference. Has that been outsourced too?
@2hd the jobs being outsourced are typically at the low end of the IT skills spectrum. You cannot compare a help desk resource to a full stack developer or data scientist. Sure, they provide a helpful service, but also one where the bar to entry is pretty low. Reducing costs in this area allows more resources to be applied in the high value areas. I’m not saying it’s right or wrong, but that’s what’s driving this.
@25t The issue with TRP is they no longer have true leadership. Gone are the days where there is thoughtful, strategic, caring leadership who understood how to retain existing business, grow product offers and promote from within based on merit and talent, not “exposure”, “networking” or even “friends”. TRP actually built proprietary products and services with extremely talented individuals. Now the solution is to bring new leadership in to outsource departments and save the firm $. In many departments, the firm is dependent on vendors who aren’t meeting the firm’s prior high quality standards. Something TRP was known for. The end result is we’re losing $. Then that new leadership leaves within 3-5 years leaving employees to deal with the aftermath and chaos. TRP’s high quality and trusted brand seems to have lost its way and it’s leaving employees with little or no trust. Kinda ironic #trustee
@2jc of course not. The jig is up on that one.
@2jc unaware of anybody receiving meeting requests for today
@2jd nope
@2jc No, did you receive one?
Anyone get any Important Business Update appointments sent out this afternoon?
@2eq From my understanding the Command Center, Helpdesk, and Service Desk are all going to Accenture in the Philippines, but other roles could be shifted to India. These workers are so great they are making the affected train them how to do their jobs on the way out.
It is a low hanging fruit, copycat idea, to just offshore IT, rather than invest in a group of talented and innovated people. Really an idea that took no thought or imagination. An Accenture salesman with a flashy sales pitch likely wined and dined them and made it all sound great. Why is it they claim the US has no IT talent, but they send IT jobs to countries not known for innovation? But hey, workers in the Philippines can make 90% less than Americans so all good for them. If your VDI has issues I guess you will do better to google your issue than try and get them to resolve it. They will likely just read to your the same docs you find on google anyway.
https://www.thelayoff.com/post/@OP+1k0ta5rpv
Does this seem like it’s happening?
@209 The company is going to cheaper IT resources from India (Accenture). This is where bad IT management get you.
@25n LOL. Think Sydney office all knows about this dude. Pig is an apt description. He belongs in a different era. Problem is he is a manager so I think part of local management
@25n As far as wokeness and DEI - it is all a load of BS. Do you think the jobs being offshored will try and hire women, minorities, LGBTQ? If they really cared about any of that they wouldn't be choosing that route. And I am sure people from all of the BRG groups are getting the heave ho. Again, they don't care. This was all a big virtue signal to have a good score on the Human Rights Campaign's Equality Index. They don't care. They even got rid of a pregnant woman.
@23m It would have been a lot "kinder" had they done all of this planning etc and came up with one big layoff list. Then had one announcement. This little bit at a time makes it harder for everyone.
A lot of comments on wokeness here. Irrespective of if you're woke or not, one of the biggest issues TRP has is people who are closet racists and chauvinists while pretending to be woke. In Australia there's a senior member of staff who I'm pretty sure is a racist, chauvinistic pig. He posts stuff on Linkedin and says around the office on how supportive he is of women and minorities. Like makes a real show of it. Over the top show. I think it's so far from the truth. He calls women and minorities in the office the names of other women and minority colleagues. Like we're all the same. And he's worked for these people for years. Says sorry with a smirk on his face when corrected. Additionally I've heard of other comments and interactions that seem completely inappropriate. Management seem to turn a blind eye and go along with the charade. This place is so full of hypocrites.
@23v https://www.thelayoff.com/t/1k0kttfrm
@23e please share the other thread. Wouldn’t be surprised if there is another round imminent.
@23g "And you can't get any real information from anyone."
My director had to lay off people and she said she was told who to lay off just one week. I don't know if supervisors have better information than we do until you get to very high levels.
@23e "Has anyone heard anything about layoffs Thursday this coming week?" I dunno, but it is sick the culture this group created. I blame anyone who was hired since 2020. It is really disgusting. And you can't get any real information from anyone. Wall of silence. I get more info here than I ever got from supervisors. It is just a really unhealthy environment at this point. The the poor folks downtown get to roast all day and breath in toxic fumes on top of that.
Has anyone heard anything about layoffs Thursday this coming week? Someone mentioned this in another thread and wondering what rumors are out there
@1r6 IT has a lot of contractors. Since last month, their contracts have stopped being renewed. In my team of 35, 4-5 of the contractors were denied renewal in the last month despite being recruited with a promise that they would.
It really was once a great company. Past success led to a culture of complacency in the upper management ranks that resulted in more effort being expended to grow and defend careers, versus grow and build the future of the business.
@1wg definitely not a done deal but trust me, you’ll want Nate back in the saddle. You’ll know when you see the trail of dandruff in HarborPoint!
Yes, TRP have a wokeness problem. we all joined BRGs not because you care but because its good optics to climb the greasy pole. How sweet the top of the pole is, MC's admiration and virtue awaits! Go woke go broke. Downvote or not you know too much money is wasted on vanity ideas now look at the result, 1k good people let go and a falling stock price.
@1vs If Segal is the savior, call Peltz this place is done. Let’s at least maximize the scrap value.
@1vq this has to be a joke right ?
@1vs If he was in charge of blowing that $1B of campaign money and leaving the campaign $20m in the hole, I am sure T Rowe will hire him immediately for upper management. Is there any other entity T Rowe can plaster their name all over hundreds of times? CFG Arena? The Aquarium? Is that ling--ie football team still laying. Seems like a natural for a "branding" opportunity.
@1w0 quick, what’s the number to 911?
Let’s not accuse each other of wokeness or other nonsense on here. This is about the company. This was a place where there were boundless opportunities for anyone.
Case in point: Ann Holcomb became a DOR without covering a stock in her career!
Have heard they are going to bring back Nate Segal, former analyst in the equity group to provide a strategic review of the funds and research process. Nate was a legend before he abruptly left a couple years ago. It was once thought he might be a potential CEO successor at one point before he left to work for Kamala Harris again.
Nate is one of the smartest problem T. Rowe ever hired and I know he can turn this place around!