I shouldn't be coming to an anonymous forum to learn there were more cuts today. We should know things like that. Good leadership wouldn't be so scared to tell us what's going on, even if it's negative. We're being run by a bunch of incompetent cowards.
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I agree there’s been a lack of communication....
Some managers weren’t even aware until during or after the HR calls, and people are now noticing colleagues showing as "Unknown User" in MS Teams. It’s very understandable that people are trying to piece things together and looking for updates on anonymous forums.
Personally, I’ve found the comments sharing real experiences and practical information most helpful, especially around affected roles, severance, benefits, timelines, and next steps. There’s still a lot we don’t know, but sharing what we do know can help.
@OP forgot you were the person to keep informed - sorry that you hate the transparency… what an id--t
@p1 morale in London - paradox - as if anyone cares about your English Morale - that’s why Europe is the sick child of any American company. Bunch of winkers there.
Why do you need to know about cuts that don’t impact you? Just be happy that you are not on the curb selling your nice bo--y for the living. Still employed I hope?
There 's never been any transparency at FactSet. Communication has been sh-t for years for a reason: whoever knows more than others has power over them and can fu-k them up whenever.
I’ve been at FactSet for almost 10 years now and this is easily the lowest I’ve ever seen morale in the London office. The level of demotivation is honestly crazy. People who have been here for years and genuinely cared about this company are completely checked out.
Sanoke comes into the London office maybe once every two weeks, doesn’t speak to anyone and just sits at his desk. This is while people around him are wondering whether they’ll still have a job after the next round of layoffs. The level of detachment is unbelievable. This is not the culture FactSet built over decades and it’s certainly not the company I joined almost 10 years ago.
And these constant rounds of layoffs are shameful. If you need to restructure the company, then do it. Stop dragging employees through round after round and leaving everyone wondering whether they’re next. You cannot expect people to be motivated or committed when every few months there is another rumour, another list and another group of colleagues disappearing.
Some of these employees dedicated their careers to FactSet. They were here building this company long before Sanoke even knew what FactSet was. And now they’re expected to sit around worrying about their jobs while the person at the top arrived on an enormous first-year package, including make-wholes, and apparently can’t even make the effort to engage with the people whose livelihoods his decisions are affecting.
Cutting lunches, charity and anything else you can find while spending that kind of money at the top is insulting. The message to employees seems to be that every dollar matters, unless that dollar is being spent on the ELT.
Sanoke was a terrible decision for FactSet. He seems completely disconnected from what made this company successful and from the culture people here actually valued. From where I’m sitting, it feels like someone was handed an extremely lucrative final chapter of their career and employees are now paying for it. If that’s unfair, leadership has done an absolutely terrible job of showing us otherwise.
The silence makes it even worse. There is basically no transparency. Middle management doesn’t seem to know what’s happening either, so I don’t entirely blame them. They’re being asked to reassure employees while seemingly being kept in the dark themselves. People are literally having to come to anonymous forums to piece together what is happening to the company they work for. It’s embarrassing.
Meanwhile everything is AI, AI, AI. We are throwing everything at becoming some kind of AI company while destroying the culture and morale of the actual company we already had. Does anyone seriously believe FactSet is suddenly going to be recognised as a global AI leader? We are sacrificing things that actually made us different to chase something where we risk being permanently mediocre.
And I would love to know how much FactSet stock the ELT making these decisions actually own. If you have so much confidence in this strategy, show employees that you’re genuinely financially exposed to the future you’re creating too.
The speed at which the old leadership and Board disappeared is also unbelievable.
Goran, this one is particularly disappointing. After everything you said about FactSet and its culture over the years, watching what has happened feels like a betrayal. People who worked alongside you for years disappeared while you survived the transition. Whether that’s a fair interpretation or not, that’s how it looks from down here. You owe the employees who trusted the old leadership far more transparency than this.
The saddest part is that people are this angry because we actually cared about FactSet. I certainly did. I spent almost 10 years here. There are people who gave this company far more than that.
Now morale is on the floor, nobody trusts leadership, everyone is wondering when the next layoff round is coming, and the company we were proud to work for is becoming unrecognisable.
Absolutely shameful way to treat the people who built this place. Failure of a leader in Sanoke. and by far the worst decision made by FactSet bringing him in. We have lost our battle to our competitors because of this guy. Well done FactSet!
@kb may everyone who sc--wed up people during these layoffs, get their just deserts. Let them feast now, it will not be forever.
We removed our entire internal communications team as part of this layoff round. I wouldn't expect communication to improve.
Not to mention they brought in a private chef to cook for the ELT on the day of lay offs because they want to remind us they are better than we are.
The silence is deafening. No weekly email. No acknowledgment of what’s happening. Middle management doesn’t know what to tell employees because they don’t seem to be getting answers either. Even the people who join Radio FactSet can barely hide how frustrated and uncomfortable they are with what’s happening.
People shouldn’t have to piece together the state of the company through rumors and anonymous forums. Leadership doesn’t need to share every detail, but saying nothing while morale deteriorates is making things worse.
Has SV bought any FDS stocks? Shows lack of confidence in the org. Probably hired to do the reorg before saying adios.
SV got a $13M “make whole” payment and is on track for a $2m bonus for FY’26, amounts few if any of us will ever see over entire 50 year careers.
FDS has a money problem, spending too much on AI, execs, and unnecessary acquisitions at the expense of the employees
@ar he needs the money to fix his ugly face. His and his kids, grandkids’ face.
Looks is as ugly as his heart
Content got hit like a heart attack
Who is impacted by this layoff? I heard Pat Reilly is gone.
He can shove his agents in his a-s. Dude is trying very hard to sell FactSet so he put millions in his pockets.
Agreed, and that this the second round in two weeks. At real businesses you get it done in one day and the tell everyone it's over.
Isn't Sanoke from JMPC? I've heard that JMPC notifies the next layoff date well in advance.
Communication and transparency rank lowest in this organization. Please to witness communication org got cut and head of that gone finally.