I see posts here debating if there is going to be an EOY layoff, we can’t know for sure, but I think that points to a bigger morale problem. Associates have lost faith in the future of the company. I’ve been here for almost a decade and never seen this many people genuinely hopeless going into the next year. Almost everybody I know at T Rowe has told me that they’ve looked for a new job, but the market is so sh---y. I’ve even had people tell me they wish they’d be part of the next layoff just so they’d have the time and energy to search for a new job. Some have been lucky and secured another job, but I think most are just waiting the market out. I don’t think things are going to get better here, especially with all of the initiatives related to Next90 emphasizing productivity and efficiency. Personally, I’m just waiting to get my bonus then search aggressively for a new job in 2027.
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@1nw is this across all divisions. Heard investments/ PMs get treated better. Is it true
@1kb I would say somewhere between 20 and 30 weeks base + a portion of expected bonus, depending on what time of year you go. This is based on recent exerience of having to terminate a KM4, but it is likley highly role-specific. Bonuses in front line roles often exceed 100% of base.
I work across a lot of BUs and geographic areas, and don’t know of anyone who is hopeful or doing well. I’m in He-l and everyone is getting bitchier by the day, especially me. This is just no way to live. I can’t believe my career brought me here and now I’m stuck. With inflation we’re all making less than last year. Gotta get out…
@1dt what severance can be expected at KM5 for 10 years service. Is there a formula
@1dn Rumor is most positions under KM4 will have an "Accenture First" hiring policy. I guess they meet with ACN to see if they can provide someone with the skillset - and since they get paid for each cheap worker they rent out, they answer will always be that they have someone.
@dt Did you see the announcement of the TDO Partnerships Office? Looks like we're going to get more contractors from Accenture/TCS going forward. I wonder if they'll stop hiring FTEs altogether soon.
Bonus pool and layoff are different decisions. Bonus planning starts in the summer. By now everything is decided.
Layoffs are more tactical. If stock goes down more there could be good bonus and lay-offs both
@cy To be honest, if they could trust ACN enough or find an AI bot to do the work, they'd fire everyone - except for a few lucky folks with friends in management. Makes sense that bonus targets look good this year - they are basically taking the same money and dividing it up among less people due to hundreds laid off this year and last. I hope rank and file people do get a decent bonus. It may make the thought of heading into 2027 working their more palatable.
@bf it’s because they really don’t care. they WANT people to quit. I’m sure the handful of associates THEY deem important are well taken care of and kept happy but generally it seems the goal is to reduce head count any way possible. There’s no other logical explanation that I can think of.
Very true, and NO ONE will address it head-on. Not once in all the communication, town halls, open forums, Next90 whatevers has management even uttered the word “morale.” Just the Platonic Ideal of an ostrich sticking their head in the ground or plugging their ears and singing “LALALALALALALALA.”
@OP I was one of those let go July 31 (Tech). It seemed that most of the types of roles I wanted were all with companies like Teksystems/Kforce/etc - W2 contract with NO benefits - not even PTO or holidays. It is kind of funny how some of these interview processes went. They would have rounds and rounds and rounds - like 4 or 5 interviews - for a role that is basically a rental - 1 or 2 year contract with no benefits. I finally accepted a 1y role, just to have money coming in. Just mentioning this because depending on the field you are in the market does su-k. I have a masters and several current and in demand certifications - didn't move the needle. Thankfully, I have my partner's health insurance. Good luck - unfortunately as we get into November/December, the job market really grinds to a halt (which is why I opted to take a 1 year gig while I continue to build my skills). I wish you the best- try and enjoy this season and leave work stress at home. Enjoy the fall weather, holidays, your loved ones.