after many years of drinking the koolaid and having had some personal career success, it's so easy for me to momentarily get pulled into elt's insanity. I looked at the org charts and thought 'okay this makes sense'. But didn't take long listening to the overused jargon salad this afternoon to realize there's no substance. I do believe they spent hours upon hours and paid consultants who knows how much money to come up with these charts. However, at the end of the day the org chart will fix nothing. absolutely nothing! ELT said this today.... org chart is only first part. how do we know that the decisions which got us into this mess (growth of more than 10+ home office associates per 100 FAs during PP's watch) won't happen again? Oh wait, we're supposed to trust PP when she says this "won't happen again like this" and she's "taking accountability". Unfortunately, it's impossible for me to trust anymore. After all these years part of me wants to- it's my default after investing sweat equity into this place for so long. But when I really listen, all I hear is jargon. Over and Over again. Only time and actions will tell. In the years to come, this period in the firm's history will either be a HBS case study in what not to do OR PP will be hailed as a hero. Only time and results will tell. In the mean time, I'm out. Saddens me to my core. I've spent my career climbing up and up and up and have had to admit to myself that the best way for me to attain personal success is for me to leave. And side note... hat's off to Dana Cooley. I would NOT want her job.. appreciated her no-nonsense update today..it was the only meaningful part of the 90 minute lecture.
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@b1 so true. They were nervous to share their homework that they worked on so diligently. Give us some genuine and authentic leadership for change.
Just remember, they are PROUD of the cr-p.
If I hear the words "deeply personal choice" again...
The ba--s to say you respect these peoples "deeply personal choice" when you gave them no choice.
They shared their homework so proudly. It was the most underwhelming thing behind the new pant suits.
Positions are temporary. Ranks and title are limited. But the way you treat people will always be remembered.
This is your legacy PP.
@OP This is exactly how I feel. For every problem this fixes, a new one will be created. Every ELT member nodding along today knows it’s better to agree with PP and collect their $10 million than speak their mind. Even entry level GPs are “all in” knowing it’s best for their career. It’s all BS and everyone knows it. I even bit my tongue in our department meeting knowing it’s not a good look to call BS. Maybe it’s a side effect of EJ getting too big. PP surrounded herself with “yes” people that traded their soul to money.
And agree, Dana was the only real one on stage tonight. She told it straight and showed emotion. Can’t believe PP made her deliver the toughest news.
PP’s Legacy:
How it started: “Human-Centered…”
How it ended: Layoffs from a position of strength
@OP agreed on all points. And Dana Cooley was the only one that didn’t sound happy about the situation we are in. She sounded genuinely uncomfortable delivering her message. I can at least respect that.
The entire town hall was pointless, all it did was make me angry. 90 mins of them saying buzz words for their hope for the future. A future that a lot of associates won’t be there for, so why should we waste time listening to meetings like this? There are so many better ways to “streamline efficiencies” at a company, what is happening now is just restructuring in order for the top people to keep gaining more.
Come on…anyone could get up there and give the no nonsense talk knowing they were safe. Tired of her and PP’s fake tears throughout all this. You don’t make these decisions and then get up in front of the firm and shed tears and talk about how the last few weeks they’ve been gutted. If you’re gutted, show some respect for the people leaving due to your incompetence.
I felt the same after watching the meeting today.