Shameful
That's the hilarious part. This whole shooting match is a series of self-inflicted wounds by an executive team that is just not very smart, or at least not very with the times.
You build a huge megaplex in NJ. Then when you can't fill it, you start throwing offers at any new grad you meet at job fairs out there, technical roles given to people with degrees in philosophy and stuff. Then when these fresh out of college kids don't show up to work in the office, or don't seem overly into learning these tech roles, you are SHOCKED. Lol.
So to "fix" this problem you implement a a blanket policy to punish everyone instead of the people who actually need to be addressed. Sure it's a two birds with one stone scenario for these anti WFH guys but even if it wasn't, how stupid do they look bi--hing about these results? I mean sometimes the jokes just write themselves lol.
Don't forget that they double-hire for senior leadership positions but leave innumerable frontline roles unfilled. So insane - you couldn't make this stuff up
Long-term, knowledgeable associates were programmatically "separated" from the firm--either by office closure, policy changes or direct severance. Replacements in BH came in with no tribal knowledge and in many cases no industry knowledge...at notably higher NJ salary levels, but lower productivity (as they come up learning curves). And the geniuses on Broadway are shocked? Clients are seeing only decreasing service levels, lower capacities and less confidence. Yes, inertia and FIS meltdown are propping up the existing business, but you can't call this a long term strategy...not even close.
We’ve heard “record profits” for how long now? Yet benefits get slashed, and now margins need to be improved 🤣