Thread regarding Edward Jones layoffs

we have all seen the you cant fire me because I know this general partner game. To the OP's original point about DEI, we have put a lot of empolyees up on a pedestal that dont belong there because of DEI. KJ for instance

Anyone else notice the time and effort spent to keep underperforming associates around? Not just with PIPs and redoing their work, but once these associates are talent matched out of their current positions, roles are created for them across the firm by their talentless friends. Sorry, I don't need a scrum master w/ no programming experience to ask what Im doing today or what my blockers are, then hang out in their cube reading the paper before taking their 2 hour lunch. I hope that Reimagined will address the nepotism and protection of the good ole boys club

@db+1jqqhy70a

You are being deliberately obtuse.

I don’t give a care as to the race, creed or color of my counterparts. I want to work with the best. Not the individuals who are constantly clogging Teams with the questions that were answered in training. Wake up.

@xn+1jqqhy70a

Of course I am correct. I have eyes and ears.

“The Party told you to reject the evidence of your eyes and ears. It was their final, most essential command.”

Anyone in denial is, well, ignorant to the facts.

Hint: It is the associates with their pronouns in their Zoom names.

They are not serious people.

Edward Jones does not have an associate problem.

Edward Jones has a leadership problem.

As an associate, my observation is that most of the actual leadership work gets done at the Department Leader and Team Leader level. Not generalizing but most GPs and Directors waste time sitting in redundant meetings and/or “building relationships”, which is an euphemism for scratching each other’s back for personal advancement. It doesn’t add any value for the firm.

OP might be right. Look at NY Post article

I don't think DEI has anything to do with this. Edward Jones has an accountability problem. Too many under performing associates. Directors having their assistants do their work. A ton of GP's promising the world that aren't capable of delivering. Are these GP's shown the door? No, they just get reassigned to another department calling it a "development opportunity" The average GP makes over a million dollars per year. Are they adding over a million dollars of value to the firm? Not always. We have never been able to get rid of them because we value working in partnership.

If we were to take the tens of millions we pay just a small group of these GP's to bring in a few tech teams from Google or Amazon, could you imagine how much progress we could make in delivering the technology our branches so desperately need?

OP makes a lot of sense. DEI is the root cause of all problems. Without DEI, the firm would be flourishing and none of us would lose jobs. Instead, we would all be getting fat bonuses and driving luxury cars.
Knowing DEI is to blame helps me cope.

Performance and membership of a minority group are two separate things. I was with you regarding reviews...and then you had to go and be a bigot...and then doubled down on being a bigot.

Original poster here.

My DEI comments seem to have struck a nerve. Let me explain.

The first time that “ensure there is a diverse slate interviewed for open positions” appeared in leaders’ responsibility statements, I knew something changed. Meritocracy was dead.

Our clients demand the best. Our branch teams demand the best. Our home office (should) demand the best.

I hold no prejudice against anyone, race, creed or color. I want to work alongside the BEST qualified individuals for their positions, not someone who serves to fill an artificial DEI metric. No.

Fast forward to where we are today. A bloated 101 year old firm that has no intelligence at the top, only meetings and meetings about more meetings. No “think” time, only meetings.

There are some great people doing some great work at EDJ, but once we lost confidence in our leadership (signaled by the exit of firm culture stalwarts across all divisions), I knew that something was wrong. Canaries were dropping.

When they signaled “We couldn’t find the internal talent” for these high-level GP positions, I knew we were toast. The talent was present in front of you but they didn’t check a box.

Edward Jones is a great firm.

Edward Jones does not have an associate problem.

Edward Jones has a leadership problem.

I’m afraid we have a finite time to right the ship. Unfortunately a supertanker takes a long time to turn around.

Thank you to our branch teams who, despite the difficulties, continue serving our clients as best as they can. We appreciate you and hope you stay and weather this storm along with us.

I 100% agree with your assessment on failure of management not “working out” low performing associates. However, I do not think this has anything to do with DEI or Penny as I’ve quietly made the same observation to colleagues over the 10+ years I have been in HO.
Too many long timer associates who do very little/bare minimum job and seem to somehow stay employed. I do think either office politics are in play or nepotism or just plain old management laziness is to blame (as TLs do not seem to think employee performance is not part of their responsibility).

You do understand that DEI means anyone besides a white male, right? Any other race, any disability, or gender is considered DEI. This has nothing to do with DEI.

DEI is there but more lip service than anything else. The Peter Principle is in full swing. Many good people will leave, long tenured people will wait for the buyout. Survivors will be just that.

nothing to do with dei, edward jones isnt even really diverse the truth is everyone is rated high when a lot of them can barely breathe on a spoon