Thread regarding Edward Jones layoffs

Where’s the Real Accountability?

Penny stood up and claimed she was accountable for the mess created by the 10 layers of leadership but let’s be honest, that’s just lip service. If she were truly taking ownership, then why are all the GPs still collecting bonuses and raises like nothing went wrong? It’s infuriating. They have no real understanding of what it means to cut costs or where the real waste is happening.

Now they’ve convinced themselves that cutting experienced leaders and long-tenured associates is somehow the solution to being more efficient. Really? That’s the answer? They want to blame the layers of leadership, but those layers aren’t what’s slowing down the actual work. Maybe they cause occasional friction, but they aren’t the ones making it harder for associates to do their jobs day-to-day.

The real problem? The bloated number of people and offshore contractors they've over hired. That decision alone has made it exponentially harder to get anything done. It used to be simple...you’d pick up the phone, talk to the right person, and get what you needed. Now? It’s an endless, frustrating loop of ServiceNow tickets, Teams messages, and email threads. People won’t even make a call anymore! They drag things out for days.

And let’s not pretend the offshore model is working. Can someone please point out which team has offshore contractors actually pulling their weight? Because what I’ve seen is the exact opposite. Too many times they don’t know what to do, they’re not getting the work done during their hours, and there’s practically zero accountability.

We’re spending millions on this model, and for what? Slower execution, more confusion, and less productivity. If leadership is serious about efficiency and cost savings, they need to stop chasing the illusion that cheaper labor and org charts are the answer and start facing the hard truth about where the real inefficiencies lie.

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| 1491 views | | 6 replies (last May 29, 2025) | Reply
Post ID: @OP+1jvk9hnws

6 replies (most recent on top)

@OP The culture EJ has prided themselves on went to s/!@ when PP took over and now the “restructuring”; never happened until now. Wish someone would do something

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Post ID: @1rx+1jvk9hnws

Two years ago the ELT all rated themselves “Needs Improvement”. Most people get terminated if they are rated that way 2 trimesters in a row - much less two years. Something to think about.

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Post ID: @dj+1jvk9hnws

If PP really believes in her own accountability she would set up a confidence vote for ALL partners, and resign at EOY if she can’t get the majority. Period. Otherwise, it’s just lip service, y’all.

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Post ID: @cf+1jvk9hnws

Being accountable means you don’t just say you are accountable. You take appropriate action. PP is making other people pay for her mistakes while receiving pay increases. How is this holding yourself accountable? If I made the same type of mistakes I would not receive pay increases of millions of dollars.

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Post ID: @be+1jvk9hnws

Penny and the now ELT have sc--wed this up. They are the ones who should step down. They created this mess. They have failed. Someone else should come in and have a chance to fix it. Instead, Penny and Ken keep giving each other raises. Failures keep scratching each other’s backs. It’s a good racket if you can get it.

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Post ID: @ae+1jvk9hnws

¡BRAVO! OP!

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Post ID: @a3+1jvk9hnws

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