Just look at RJ's stock price of over $118 which is a 52 week high. On top of that there are over 225 job openings on their website. What I can't figure out is why they let 550 people go in September, had record earnings, bought 2 companies and have so many openings. Why did they have to cause 550 families that angst and turmoil that they did. Maybe Paul can explain this to us.
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Over 275 openings now. Most of them are replacements. People are leaving left and right due to under market pay, and offers from NY based firms to do the same job remotely. Once folks have to come back into the office in Sept, even more will leave for remote jobs that pay the same, or likely more.
Gone are the days where RJ and the other brass of Tampa Bay can pay folks in the Bay area chump change because they are the only games in town, coupled with the excuse of no–state income tax.....national market players are going virtual and are hiring, and paying. RJ better start paying competitive rates, or it's going to get really ugly
I truly believe that the layoffs were not really necessary. I think the stock is going up because interest rates have been going up lately and that benefits the financial institutions.
In my case non of my former teammates cared about the ones that were let go. At least I have been able to stay in touch with some of them that were also laid off.
They're going to get slaughtered once the market starts correcting. Maybe 40$ bottom?
They have NOT replaced everyone who was RIF’d. So much misinformation from those supposedly “in the know”.
They have replaced everyone they let go. So it was personal.
Very simple answer: most Raymond Jams, yeah JAMS employees jerk around and when they are doing that, they are busy jerking off while listening to their dinosaur bosses vent for hours on the phone. They kept all the losers.
When I made the comment about people being mean spirited, I was talking about the comments from people who were not laid off and making rude comments. I was laid off also.
Seems to me that if someone comments about the "mean spirited people" posting, they should maybe stay off of the site. Most of us that were let go obviously have bad feelings towards a company and management that we worked tirelessly for, only to be treated like dirt after several years of dedication. If you have a difficult time empathizing then that's on you. We are under no obligation to stay silent.
Some mean spirited people on here.
I pity you fools who sold your ESOP shares months ago in order to teach Paul and Tom a lesson.
They didn't want you guys.
Raymond James senior management has little (but some) control over its stock price. RJF closely follows the NYSE Broker/Dealer Index (^XBD), of which RJF is one component:
https://finance.yahoo.com/quote/%5EXBD/chart
Compare RJF to ^XBD over the past six months. Now, compare RJF to the S&P 500 (^GSPC). RJF correlates more with the Broker/Dealer Index than with the S&P 500.
From September 15, 2020 to February 19, 2021, the Broker/Dealer index increased by 59% and RJF by 55%. The S&P 500 increased only 15% during the same time frame.
Paul doesn't care about you or me. All he cares about are his stock options. Neither does any management at RJ care. I have spoken to 3 different laid off employees and none of us heard from any of our managers. Of course I didn't expect any calls. I was planning on retiring soon and the severance at least made it easier for me. I know it hurt many younger people that were laid off but I think older workers were disproportionately let go. I know they won't figure out what I was doing and I have already been approached on the side with questions that I will NOT answer. Good luck figuring it out Paul