What happens to us if we're further hit in the following cuts? Do those who are left get reassigned to other teams or are we expected to pick up the amount of work that is physically impossible to finish even if we work 24/7?
10 replies (most recent on top)
@ew what do you mean cook the books? In what way does factset making a gain make your shares go away?
@fg yeah standard 2 weeks / year of service. 1 month health insurance.
@ff Sorry to hear that you got laid off. You accept severance package?
@es Whoops, good call. got laid off with the Sept wave, still had on calendar as wellness day today forgot they ended it
@en I was OK with the wellness days going away - having the company largely getting a day off on an open markets day is bad business. But the way to take it away is to give something back - two more days off somewhere else. Not to view it as a free 1% productivity increase. We all factored in to our total returns. Now people are telling me that not only did I likely get an 8% real pay cut this year (wellness days, lunch, health care costs offset by a minor below inflation again pay hike) but an additional huge chunk of compensation that I earned might just go away (invested stock) because FactSet decides it wants to cook the books and report a gain since it won't owe me the stock any more. I'm still working hard - 40 hours a week - but I'm looking and can't wait to leave.
@en No offence, but it’s not reasonable to expect people to work through lunch, maybe in the slave mentality of the US but not in more civilized places.
Also, Wellness Days ended with FY 2026. Today is a normal working day for you guys.
For your own sake stop going above and beyond. Compensation increases this year is going to be laughable. Promotions “won’t be in the budget.”
You’re paid for 40 hours. The excess hours are free labor. Don’t check in on vacation, on your days off, after hours. Take your time off. Spend time on your hobbies and with your family. Not bending over backwards for this ELT.
Today is the last wellness day ever in the U.S. The powers that be couldn’t fathom the office being closed in each region 2 days per year for the benefit of employee health.
They used to pay for lunch so it was reasonable to expect people to work through lunch. No more.
Go find another job while you can and your new employer will still make up for any stock you forfeit leaving - before FactSet lays you off and you forfeit it all and get nothing in return.
Simple question, team got halved then output got halved too. You do not need to care further
They simply don’t care. They’re looking to extort millions before they leave on golden parachutes.
They’re going to squeeze until people are burnt out. Products will continue to be cut when profitability falls below some vague moving goalpost threshold.
Some people will keep trying to increase the pace. They won’t realize that it’s an impossible ask to do the jobs of additional people. Not to mention, for less than market rate compensation. Go look up your title at other companies, 15-25%+ better salary for same responsibility.
It’s painful lesson that high performers will come to terms with in the wake of their inevitable layoff.
Prepare your resume and apply. Spend time every day on it. This isn’t the job market of yester-year. Got laid off earlier this year and still trying… holidays coming up so hiring is gonna slow down even more.
Good luck. Please take care of yourself