Thread regarding FactSet Research Systems Inc. layoffs

@1mc factset locked a bunch of people in with non-competes. Add in a lackluster job market for the last 2 years. I know quite a few people who are looking.

Idk why so many people tries to defend him, it’s not his first job after uni. He knew he will be ceo months ago and he must have shown the confidence against investors and he failed. It’s nothing to do with strategy or change he just needs to bring the confidence back and he did sh-t that’s it

@1mc been there 20 years and stayed exactly for those reasons. But we are also working to see the company rise, not stall, and certainly not fail...

The impact of Sanoke’s leadership will not mitigate the impact of the misguided decisions of the ELT in the short term. I say ELT, because those people are still at FactSet, making decisions they shouldn’t be, aiding the veterans who are quite out of touch with business and focused on their own grandiosity. Expecting Sanoke to stop the downfall in week 3 is like expecting a miracle. He needs new experts in L2 before any breakthrough can happen.

@222 I think 5y return is now 2.39% as of today

@1xc he doesn’t need to show or set all strategies to start working, he needs to show confidence to investors by margin stability, share buyback expansion, dividend hike, visible boldness by marketing or fireside chat with biggest shareholders. The longer you wait it’s harder to recover. If we keeps pushing the narrative of wait and see, the price will sink further. This earning call will be interesting

For fun just looked at 5 years returns. Fds up about 7% TOTAL. That’s not annual. That’s absolute return over last 5 years with bull market. Its competitors msci, Morningstar, ice, s&P all bout 10 times that and more. In addition to snow, the board has to go. Not sure how Sanoke does that since they hired him but assume big share holders like baron can force it. How the heck did the elt and snow get bonuses with that performance?

Remember, it’s the same board that put snow in that put new guy in. He has no experience running a public company or even a private company. JPM is not in the same business as FDS. Not close. This will not end well.

Fair, though put yourselves in his shoes, today was just day 5. Rome wasn't built in a day. He's meeting with L2/L3 constantly and will travel to alot of offices to meet as many people as he can in the first few months. Talk to L3/L4 if info is not getting distributed downwards.

@1mp

I think one perspective to consider is that when new leadership is installed one should feel a change in the air. Of course, the people closest to the new leader will feel it first. But the longer it takes for that to radiate outward, the more disappointing the results. There is certainly a grace period for acclimation, but I think its quite short. The sooner everyone feels a vibe shift, the better.

@1mp I don’t care what others think but posting comment from the perspective of stock performance solely as I have equity options. The firm needs to reverse the momentum otherwise it keeps hitting the 52 weeks low and that’s the very mission for Sanoke

Exactly! Wtf people expecting him to do move mountains on the 3 days before understanding any of the business details?? He gives the impression of a very pragmatic individual. There’s other factors leading to stock volatility, look at this clown show of a political administration to start

Why do all of you people stay at Factset. Serious question. Sounds like everyone is very unhappy. There has to be something positive (work/life balance, location, friends) that keeps so many there.

Another day, another 52 week low. Wow, all the stock options I've gotten since I started are worth zero today. So much for the argument that these options make up the difference between FactSet's pay and the (greater) amount I could've gotten elsewhere.

Stock down almost 2% today. Time to bring Phil S back !

And.... the stock goes down...

Weak start. He’s going to have to be coached heavily before the earnings call.

Marketing team will finally get a kick up its ar-e

Reviewing his mail and presentation, doesn't strike to be a leader. First quarter till 26 is already lost.

I think he has 3-6 months before needing to act, since he knows nothing of the company yet. Reading those interviews, and knowing his plans, he's got 3 months of meetings ahead before the change is implemented.

My two cents: DSO and CTO orgs (and leadership) at biggest risk. If he figures out D&W has a lot of weak areas (my home), they're on the list too.

I am not sure how much time Sanoke has till showing the direction where the firm goes at least. It will sit as uncertainty and price will keep sinking if it takes too long.
One thing promised is that something must change. No way he will keep the operation the same way as Phil did. We don’t know anything yet but he needs to act fast if he wants to change something drastically

You all trust sanoke?? I might be judgmental but the first to go (not immediately perhaps in 6-7months time) will likely be John costigan. Holding the most number of employees and access to COE.

I’m part of CTS though, will be sad if that happens

The thing about Phil is he admitted he wasn’t qualified for role. But if the bod picked him , he figured he should say yes. It was jay way to run things from board. Will make a great case study done day