Welcome to the new FactSet to ring in the new fiscal year. Demolishing the company culture and we all just have to be grateful to not get laid off. This guy has been here for less than six months lol
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@r1 nope. Lunch and dinner in india are no longer subsidized and neither is transportation for day shift.
They’ve cut lunch allowances for us but guess who still has a huge dining allowance as part of their contract of employment…
Finances are really bad and a takeover is on the horizon! If you can, start looking for a new job now!
While it is for margins, it is short sighted for snacks to be cut. We’re front offices, we invite clients to our offices and offering drinks and all when they come. Even if they don’t snack, even if we have hot coffee or tea, it just doesn’t look presentable with empty fridges.
It is silly. We’ll no longer invite clients over then, looks pathetic
@sf ELT spotted
Take the package then and move on!
Oh, that’s right, you won’t get a job anywhere else. Oops
Hey ELT, have some decency and just bloody offer a decent voluntary package after this review process ends instead of sneaking it in again in December. I am sure these people are just waiting for this review to end so they can start their brain-dead cycle again.
SV’s latest email: “just got back from my tour of Asia, so fun, love traveling on the company’s dime. [insert vague AI hype]. Sorry about your snacks or whatever. Xoxo, sanoke”
@av they can't get rid of the offices. The offices will be renovated to hold the ELT's giant offices. They will still be here. Everyone else? They want gone. Just ELT, then some CoE employees, and AI doing everything!
@r1 no. No lunch, dinner, transportation, or internet subsidies. Less snacks too.
Does India still get the highly subsidized lunch and dinner?
side-eye-chloe.gif
@jk it’s just a f you to us all from SV. The savings are so minimal - I mean, the lunch allowance has been eaten away by inflation for 30 years or whatever and was really just a gesture at this point. It’s like cancelling the wellness days because it’s “inconvenient” for him that the peons get time off. Feels like the place is circling the drain
ELT are here only for their paycheck, period.
FactSet’s incoming leadership is applying a legacy operating playbook to a technology company. Those measures may deliver short term gains, but the returns will flatten, and by the time they do, the executives responsible will have moved on.
The stated priorities are efficiency and growth. It is worth looking at the companies actually achieving both. Well run technology firms maintain strong remote policies and competitive benefits, which are precisely the things FactSet is cutting. They also invest seriously in AI training and deploy it across the workforce. FactSet claims the same, yet the employee AI budget does not remotely support the claim.
Growing companies at every stage have already adopted what FactSet’s leadership says it wants. FactSet is dismantling those same practices while describing itself as committed to them. This is a technology first company, and leadership should operate like it. A genuine study of how venture backed technology firms run would be more useful than importing strategies that no longer fit the market.
CFO my a… you would think we’re paying so much for a more nuanced decision to improve margins. But no, he goes for the simplest fk all thing to do, and has no regard to balance it against employee motivation and benefits, which we can easily argue is more valuable than this tiny savings
How about we take some off your paycheck, could easily fund all of our lunches for days
man, i got made redundant back in June but still read all these threads. Feel for you guys, hope they offer voluntary redundancy.
Loser Co heads sweater is what they need
@fm have you heard of Pitch Portal from a couple years back? IIRC, it was the idea from Kristy's husband. Of course we built that failed product bc of vibes instead of listening to what our customers' needs are 🤷
@ed most untrustworthy leaders I know of-especially John. Kristy is lost as a failed leader for research and CPO. Shame on them for targeting good hardworking employees.
@fc No, I need the share price to come back up...!! Was let go in June and now my ESPP is still in the drain...!
Love how we are all airing our dirty laundry here in public forum, thanks to “slidos” and “open communication” in the past.
Hopefully with AI these days, analysts will pick up a connector to these threads and let our share price drop further , low sentiments, with all these self sabotage, petty tactics.
@et Has there been any discussion on this? I can see them funding the bonus pool at a fairly low number (50-70%) but not canceling outright. They never tell us that funding level anyhow...
@ep Revoking access for whom?
@et “will be” not “would be”
Icing on the cake would be them canceling employee bonuses due to "economic hardships" and in support of our long-term "strategic initiatives"
Word is phase 2 is revoking access to workstation/web.. it will save tons of money
@ed Who has gone?
@cn meanwhile John C and Kristy letting go of everyone who worked hard for years. Praying to see their times come.
This forum is so spot on with predictions that it scares me. Maybe let us know when ELT are going to get onboard a plane like MH370 and disappears?
Because CFO doesn’t have the ba--s to stop Sanoke and ELT from flying around so much or take so much of compensation.
When are they going to cut that stupidity of Grokker, Sword AI health, and the countless other pointless software subscriptions?
@c4 Correct! Lunch stipends....gone!
@av wait, so no lunch stipend anymore?
@br seriously voluntary buyout with a respectable package. Would take it tomorrow
@br sign me up.
This kid needs to do his homework and go to bed at 8 o clock. Claude how do I how to lower costs
If any ELT are reading this, just offer voluntary redundancy with a decent package like 4-5 months +1 week for each year of service. I am sure ELT only care about their own package only
But don't worry, FactSet is still a great place to work because we are checks "client-first and kind to each other."
@ay 'confirmed that they are working on better office attendance tracking tech with details to come soon there" - where is this mentioned ?