Thread regarding FactSet Research Systems Inc. layoffs

Hey hey hey hold your horses guys !! You seem to have became so insane sooo insane to completely give up on your own culture and respect for the people that carry it the best like Goran

He is a kind man, he speaks for his people, he made tough calls but he protected so many , and I witnessed it, he is the only one that could save RCS after a succession of failing CROs, I know it because I am in RCS.

He is the one that is behind so many improvements for sales , this thread is so ungrateful you don’t know anything anything. You judged based on a bad call this week ?! I can’t believe it

if you re caring for culture, you should respect his 20+ years of advocacy for us, the guy has nothing to lose and he is candid, yet he can do nothing for you in product or wherever you are, he isn’t the big boss, so be reasonable

Think of all he has done and what you know of him, you re making a huge mistake here’s

@jf they are not open to feedback. Have they done anything to GLINT feedback? NO

@OP as you sit in the same office, why don’t you give him this constructive feedback directly rather than on an anonymous chat room

Goran is a decent person but not for this role or FDS at this point in time. Main issue is he is afraid of making a decision on his own. He is very protective of his own crew especially with wealth & research. We have seen this with KK, GK, TJ, MM, AB, etc.

@b1

Should have made CE ceo.

@ee

Michael Bloomberg. He was always the silent partner

@e6

Mb?

@e6 what’s up with TJ? How is that dude survived all these yrs…

@ba

Maurizio is mn ..

No argument that the ELT is incompetent. Maybe every ELT is incompetent, but most can coast on a going concern. Factset has been led by pure admins without innovation since about 2017. Goran may have been part of the problem but the fact that the long decline is finally crystallizing into a collapse is hardly something he, Sanoke or anyone can change at this point. Just get out while you can.

@d8 must be a sales person who cannot open that "terminal" for yrs and got axed

@cd if you used it yourself, you’d know we call it a workstation, not a terminal. Perhaps you got lost on your way to troll the Bloomberg message board?

@CD

Go on the SEC and count up his first year total package. What’s your reason for denial?
I’ve been at FDS for almost 10 years now and I’ve never seen the culture be so destroyed that people come onto LayOffs forum to attack each other, get a life. And whose fault is that? Sanoke. And his little minions.

Sanoke fu---d up the company, just admit it. Stop denialism.

@b8
$80M, where did you get that from? If you’re still here, there is a thing called a terminal - check out the real number (it is not 80), if you can do simple math you will conclude the number he got also took a hit. Oh wait you probably never fire up the terminal - another reason to can your 4ss!

@b9 easy for you to comment about what other people need to do - what is it that you’re doing to make FDS better, oh wait forgot, you’re posting here - that’s a great start I guess.

@b1

Who are mn and mb ?

Goran needs to put his head down and leave the firm with the little bit of respect and dignity he still has before it’s too late.

Shameful puppet!

Here comes the ELT su-k ups in the comments below…!

A company can be in a bad spot and ELT can simultaneously be transparent, honest and have integrity.

Not hire a private chef… Not give its CEO an almost $80m first year package… Not lay people off in so many rounds and then disacknowledge it all by not sending a weekly email (which he always used to do)… Not make snarky comments…

A struggling company (like you say FactSet is), should not be paying its CEO so much money. A good leader would take a slight pay cut instead of cutting all his employees’ benefits. It’s embarrassing and Sanoke and all his minions are failed leaders all looking for a retirement plan. There’s no innovation whatsoever. It’s lazy leadership to be cutting snacks in the office when there’s so much bigger problems.

You’d rather die than admit he failed on all of his promises and vision. He’s brought in a bunch of id--ts on the board, no introduction whatsoever, and completely turned FactSet into something that it never should’ve become.

He’s come from an investment bank and turned our culture into one. There was never a hierarchy here. Goran is a sell out. end of.

I know what happened last week was not pleasant and it never is and genuinely hope everyone finds a soft landing. But have some perspective this is a business not a fcking charity. We have to grow at higher rate than our cost base - that only happens if we actually produce some something innovative, and I’m sorry we have not done so. As a result a mgmt consultant will come in and do what they do best - cut cost - that’s the reality and that is what is happening,
As for these pathetic attacks on the big guy, seriously just fck off!!!

@b0

Well written. PS purged the heart of the company: MH, RS, MN, MB, KK, RN, JW and then hired and promoted su-k ups which led to the company downfall. It’s never been the same.

@OP

I think many of you are losing sight of the actual problem.

The company is in a bad spot. Yes senior leadership purchased too many companies that made no sense. Yes senior leadership repeatedly failed to address their own lack of management skills or cultivate the right products. So many bad hires over the years - many with industry experience and most were not a good fit for the company.

What's done is done. Sorry.

The industry you are in has changed a lot and I'm not seeing a product line or anything that's going to drive real growth. You guys are just treading water now. Nothing wrong with that, but that's all you got right now.

I can understand if you want SV to have the magical strategy that will give you back what you once had. It might exist, but he doesn't know what it is. That should be clear to all of you by now.

All SV can actually do is what he is doing now. Purge, purge, purge. Drive down costs as best as he can - maybe raise prices on strategic products and push up earnings a smidge and call it a day.

No one - not even the beloved Goran - has any power to stop this. It isn't about integrity on his part. The things being done are a reflection of the state the set is in. This was the only logical outcome. Its why SV was brought in.

The brother is too tall, felt like looking at bfg without the f

I'm.glad people start to open here. Sanoke came with promises and he fu---d up real hard and deep. Run guys, run!

He’s so unlikeable now. It feels so awkward to even be in the same vicinity as him in the London office, such a horrible person. I’ve heard from some sales colleagues that he laughed in their face when they asked for good raises, and also mockingly said that ‘who cares if 4 in office days get implemented’.

Goran, you’re a sell out. I’ve been at FactSet for almost 5 years now and you are a completely different person to who I met in the past.

He’s just sh-t scared of Sanoke getting rid of him as well. Goran’s literally the corporate pet of Sanoke now lol

He’s a sell out. Walks around with company snacks in his hands all day as well, as if he didn’t influence its elimination.

He has no ba--s to stand up against Sanoke. Company’s been destroyed.