I am only a few months into my time here, and it is already sinking in that layoffs might be part of the landscape here, which has me more on edge than I expected to be so early into a new role. I am trying to get a sense of whether this is something people constantly brace for or if it is one of those things that happens in waves and then quiets down for a long stretch. I would like to know whether I should settle in and feel secure or keep my guard up because of the way things have been going lately.
8 replies (most recent on top)
@x8 ya does feel like the entitled tech dude mentality is huge here
@q7 you want to deflect blame on to others… typical laid off IT psycho mentality
@fv f’ing freeloaders like you caused the issues the company faces now
@fv Dear Hahahaha words to live by. I am already doing some of the above. The thing is, you can work 50, 60 hour weeks, get a masters, get industry certifications, etc and they will still replace you with Accenture workers because they live in villages without plumbing and much lower expenses and can earn 10% of what you earn and be thrilled. In fact the better job you do, the more documentation they will expect you to write up so your replacement succeeds and gets to keep YOUR job!
Take the pay check and do the least amount of work possible. Deflect failures on to other staff. Barely come into the office. The best… take a massive payout when your children have finally left school with no more private school fees to pay and you’ve got no mortgage left.
@OP run run run
To be honest, when I started even before the outflows began, I was looking immediately because my area is a disorganized sh*tshow with weak management. I was hired and dumped in a cube without any "rope showing" to speak of. I just couldn't get past the questions about "why looking after only a few months?" Then I kind of found a niche here and it's been OK until the past year or so. I like both of the posts here feel like I cannot buy a new car or take on any significant home projects. I am slated to get a decent bonus that will stay in savings mostly unspent to help me survive a month or two if I get laid off.
T Rowe used to care more about excellence in employees (not that there was ever a point where everyone was top notch) than they do today. I always felt they were at least better than the companies who sell out American workers for offshore contractors, but was wrong about that. I just redid my resume and have kicked off a soft search that will be a full search in January. Moral su-ks here too as we are all worried about our futures and with the loss of skilled workers in favor of cheap ones who can "get by" on notes left by fired workers, those of us that remain are left holding the bag. It becomes a day long project to get assistance from what they call a "Helpdesk" these days.
Fortunately for you - you have a way to answer "Why are you leaving after such a short time". Heck, reference this site. They will get an eyeful. This is a toxic place to work anymore, and there is nothing more frustrating than knowing no matter how hard you work, what professional milestones you may achieve (degrees, certifications, etc) you will never be valued or appreciated here. I feel resented simply because I need a wage that I can live off of in Baltimore, Maryland, USA. The people making these decisions make us feel this way. And the sh*tty way they did the last layoffs - have a 5 minute Zoom stating over the next hour watch your mailbox - if you get an email, you have been "chosen" and from that mail you will learn your "next steps". What a horrible hour that was. I want to be GONE the next time they do that. It is like a never ending game of "Musical Chairs".
We have had layoffs nearly every year since 2022 and there have been rolling layoffs since July, and even in the months before that they were offering select people buyouts.
This environment is new for T. Rowe, so it’s hard to answer your question about if it will continue. It used to be that T. Rowe would have one big layoff, usually during a big recession, and that would be it, but no longer. I expect this pattern will continue if we don’t return to net inflows, which seems unlikely in near future.
It’s hard because you can’t really plan for things, and personally I’m terrified to make a big life purchase, like a new home, renovation, or new car, so our family has basically been in limbo the last three years. I can’t take it anymore and am starting to look for a new employer. I can’t keep living my life not sure if my job will be eliminated any day.