Thread regarding Edward Jones layoffs

@1qx Smart move, this way you come out ahead assuming the company doesn't get worse next year. If it does, you're not on the hook for a massive loan while layoffs lurk in the background. I really really hope some actual adults start having a voice at the decision making table in 2027.

@1da changed allocation to not take the loan and not take the full amount. Safest play where it’s making some profit from the get go vs giving away 5% approx in loan fee. The good news with loan sounds like you can maybe pay it off early if you went that route.

I know most people here have their minds made up. But, just remember who is leading the charge on the B shares and is the public face of framing it up. DC. If you trust this dude with your money and to hold up his end of the deal, good luck! I think everyone should take a good hard look into this guy's track record here and at citi if you haven't already. He is also in the running to become the next MP, so think about the long term big picture of all this.

Everyone should make their own mind up. With that said, I bought in. Many others I know are too. I was hesitant but yolo. Plus 20% down was not a whole lot but at same time was. Had to scrounge for money but we good.

I'm not bothering buying into the class B BS.

Only sick or injured cash cows get sold off by their owners. That's all you really need to know. If you don't believe that, I have some magic beans I'll sell you cheaply.

As PP says, "Tick Tock!" ...only 3 more days!

@ns I cant wait to take out a 15k loan, EDJ gets their cash immediately from the bank, I get laid off next year because chubaka and mcdummy hate us, then edj gets to keep the $, Im on the hook for loan Ill never see benefits from except for what b shares I have (or had), and I will get b shares back in 3 years. This sounds like a sweet deal! Best company ever!

@d0 Same - went to another financial services firm with better compensation, no shenanigans, and I’m being treated with respect again.

Everyone…look.

Read the fine print. They will refund your Class B shares over a 3 year period. The loan is due in 2 years. Run all the docs through AI.

@n1 I'm not one of them, but Im pretty sure it is 3-4 months from what I remember. I think some people got a quicker cash out than others. Now, moving forward, I don't know if it will be faster or they hold on to it longer.

All good thoughts, another concern is if you take LP and do get laid off how long will it take to get your principal back? Are there any former LPs on this thread that were let go as part of the "Reimagination" campaign? How long did it take to get your LP back, or are you still waiting on it?

I kept my current LP investment as Class A shares, but I haven’t decided how much I’ll invest in Class B yet. I hope this was the right decision.

I think the biggest hang up everyone has now with LP is "Is this company going to remain a LP, and will I still be employed here 2 years from now?". Nobody wants to take out a loan for 8k, 12k, 15k etc if your employment here is totally uncertain and all the warning signs are there that if and when the market corrects with the AI bubble, will the LP payouts be cut in half or reduced big time for B shares? Are we going to pivot back to EDJ pre PP, or are we going to be the next Bear Stearns?

@gs what's funny is the amount of traffic that comes through here from EDJ associates trying find some form of honesty and common sense. This page only has life because ELT/PP etc have completely destroyed the trust and transparency of a company we all used to be proud to work for. Unfortunately, most of the rumors that get dropped here end up being true. So yeah, people come here because anons on the internet have more credibility than a table full of clowns in cowboy hats trying to appear "normal".

The best idea I can think of is ask for advice on a layoff website but you’re way ahead of me.

@em , I received benefits package enrollment in the mail and I haven't worked there in awhile.....

Those who took it are koolaide drinkers.
Those who didn’t know what’s up.
This firm is trash.
I’m out soon and cannot wait.
$38k raise annually to base, not including bonuses. And remote with flexible time AND GREAT PTO.
Edward Jones can s-u-c-k it, just like PP head did to work her way up to MP.

@eg nope! Money and short term profits are all they care about. Anything that made us unique or different from the wall street guys has been intentionally destroyed, by PP's wall street guys she brought on. Shocker! You let a bunch of wolves into the barn and now your golden goose has been sla-ghtered. But hey, at least she can "humble brag" about what she did over a glass of $10k wine with her ladue friends.

You get your capital back when you leave, so may as well. Don't think that it offers you any sort of safety, though. Someone recently laid off was offered the LP despite being laid off. The left hand doesn't know what the right hand is doing.

I think I'm going to pass this time. While I appreciate the pay check a part of me would love to see the entire firm rise up and reject the LP offer and watch this house of cards crumble. I'm all for change and innovation but the way leadership has handled this firm is disappointing. Ted Jones was once quoted saying that money has never been his God. Can we say that now?

@b4 , I left while it was good. I'm in a much better space with my career and mental health. One of the BEST things for me along with support from family and friends.

I wish everyone the best of luck.

I will be taking a partial offering. About half of what I was offered. I feel comfortable with that middle ground.

I'm out. Trying leave the firm ASAP before the next hammer is dropped on us either end of year or start of 2027. All leaders have to have the roles of their teams assessed and then a "rebranding" of your job title will occur. Which, could be nothing, but we all know how things are now. Reorgs and restructures will be coming so ELT remains relevant. Would not put it past these clowns to do more layoffs, salary reduction, 5 days in office etc to get more people angry and quitting. Let us not forget about the relocation survey for remote workers. You really think that was just for "compensation research" as KJ explained? Nope, that's going to be their leverage to flush out more remote associates. Medical waiver to WAH and avoid it all? Think again. These people are actively trying to legally find ways to make your life a living he-l to have a medical waiver.