Thread regarding Edward Jones layoffs

Narrative Changes again...

In PP's video, it feels like the entire narrative around "Reimagine Everything" has shifted since it was first announced. Today, PP is saying this VSP isn't about cost!!

That's odd because originally, it was about achieving our ambitious 2030 goals a bold vision, yes, but one with a massive price tag. Back then, leadership claimed that the home office had to be reimagined because of the cost. But let’s be honest: what kind of organization sets a lofty goal years in advance without fully understanding the cost or consequences? That’s not visionary, it’s reckless.

They’ve been throwing money around like it grows on trees: massive payroll increases from a hiring spree, sky-high spending on SaaS tools, Salesforce, MGP, and the Cloud. They were handing out contracts and partnerships like Oprah handing out cars, “You get our money! You get our money!” Now, reality is catching up. They’re either running out of funds or finally realizing this whole thing isn’t financially sustainable anytime soon.

So who ends up paying the price for these irresponsible decisions? We do. The associates at the home office, the ones who actually keep this place running are now expected to make sacrifices to patch over leadership’s lack of foresight.

This isn't just about budgets. This is about trust. This is about values. Most public companies make these cuts to satisfy investors or boost quarterly numbers. Are we sure the real 2030 goal isn’t just to merge or go public?

And while leadership plays financial Jenga, we’re on the ground losing institutional knowledge, slowing onboarding, increasing the risk of costly mistakes, and bleeding out what little agility we have left. Morale is already low and now we’re watching trust erode further, one baffling decision at a time.

This isn’t how you build a future. This is how you burn out your people and lose what made this place special to begin with.

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| 2221 views | | 5 replies (last May 19, 2025) | Reply
Post ID: @OP+1jvmm1rx6

5 replies (most recent on top)

She (Peppy lePew) has played the game well like every seasoned politician. Rise through the ranks by saying what people what to hear, by pretending to be a friend who cared, by living a lie. The lie is exposed and who suffers? Not the politicians! They are set for life.

What makes me the saddest is that we are no longer a firm I can invest with. We are no longer a firm I would recommend to friends and family. We no longer serve the long-term, individual investor. We have abandoned Ted’s vision - serving small towns and farmers. Our leaders are guilty of greed. That is the driving force. Of course ER is financially motivated. They don’t want their cash cows to stop giving milk. Peppy lePew (because she stinks!) has her custom built home in Frontenac and her millions to warm the cold cockles of her heart.

I remember fondly when I first met her 18 years ago when she came into the home office. She was humble, kind, and seemed genuine. She is a terrible leader and a horrible person. She will go down in history as the leader who ruined the Edward Jones that took care of the middle class in pursuit of the ultra-wealthy. But what else could she do? She’s serving her own.

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Post ID: @b4+1jvmm1rx6

It doesn't matter who is at the top. At this juncture even if someone new came in there would still be a complete reorg resulting in job losses. PP needs to resign that much is clear. Under her leadership the vision of the firm went unchecked while layer upon layer of leaders were continuously added without question. We have 10 products that all do the job of 1 or 2. No one questioned that or why they were needed. The massive overgrowth occurred on her watch while she gave herself a massive raise. There was nothing strategic to that growth and now we have 4 layers of GP's leading other GP's who have a GP or two under them. This much is clear, it's her cross to bear.

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Post ID: @a8+1jvmm1rx6

Curious regarding those that were involved in the VSP from last year...What were the terms of the plan? Number of weeks of pay, were benefits included for some period of time, etc.

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Post ID: @a7+1jvmm1rx6

Certainly perplexing for everyone on the ground floor. PP said she is accountable. The firm made mistakes. If she really cared about the firm above all else she would resign. Normal associates could not make these mistakes with as much dollar losses without being terminated.

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Post ID: @a1+1jvmm1rx6

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