I can't understand why RJ stock is so high. If anyone did any digging they would see that the application environment is held together with bailing wire and tooth picks. It's a house of cards. I hear management is terrified about doing a disaster test with so many people gone due to layoffs, quitting and retirements. Can't wait to see what happens.
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I'm still working at RJ in the IT area. Stay away, stay far away. I'm only staying for the money.
I'm still at RJ and hate it but I can't find another job paying what I am getting. Last year I got an ulcer that was stress related, thank you RJ. I sure wish someone that was laid off would start a lawsuit on age discrimination.
As I see the stock is way up because the stock markets are up, most financial institutions are also up, interest rates are somehow up plus the company has reported decent numbers. I don't really think that the main reason is because RJ laid off more than 500 employees several months ago. I don't think the lay offs were really necessary. At least I still have some RJ stock in my retirement accounts.
Per what I read many of us were laid off after many years of good service, many of us in our 50s and 60s and seems that many of us still with no job and adjusting our life to the situation.
Regardless of state of its technology and other things the company will go on. People can always be replaced and it's sad to see that RJ has become a company that doesn't care anymore about its employees.
I agree that all investors care about is the record earnings. Just wait though until RJ has a major system outage and the stock prices reflects that. Hope Paul, Bella and Vin have been figuring out who they will throw under the bus.
The answer is simple: Investors care about record earnings. They do not care about the state of IT infrastructure.