Thread regarding FactSet Research Systems Inc. layoffs

Root Cause of problem is Sales Org

IMO they have done a good job managing the cost and margin but the main issue is sales leaders. CFO has done the job maintaining but CRO is causing all the changes and slowness in growth. They put someone in charge of sales for a Fortune 500 company with no previous sales experience or track record that now products and other teams have to be punished for those decisions.

This weather forecast turns into a constant tsunami, reorgs and lay offs for the last two years.

I hope they see it and make a change. CRO should not be in that role and should learn from the current CFO in charge. Sales is not about constant reorg and flashy powerpoints but finding more clients and selling.

by Anonymous
| 1851 views | | 4 replies (last March 10, 2024) | Reply
Post ID: @OP+1r5X7d3F
Comment! It's anonymous!

4 replies (most recent on top)

CEO fired a few long term folks that were at FactSet who he hired to be in CRO role and one that was outside hire from Bloomberg. Then he hires someone who has no sales experience and the only logical guess is maybe he doesn’t view her as a threat or wants her be the next CEO. You never saw this revolving door of a CRO role with former CEO Phil H and Mike F.

Neither the current CEO or CRO can actually demo the FactSet workstation or really can get you excited about most of our offerings. They are more bosses compared to revolutionary leaders like a Mike Bloomberg and reason you see people leave for other companies like Bloomberg, Blackrock, AlphaSense, etc.

by SMB
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Post ID: @onau+1r5X7d3F

FactSet has a fetishization of JP Morgan, feel like we have recently over past 3-4 years hired a lot of people from there. Thinking oh let’s get someone from a client firm who can solve all the pain points, but in reality it’s just changed the culture, not for the better.

by Anonymous
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Post ID: @3mfs+1r5X7d3F

Been saying this - what is HS doing in that role? Never sold a thing, hire someone from the outside, this place desperately needs it.

by Lol
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Post ID: @3mtk+1r5X7d3F

This used to be a great company but it changed a lot. CEO does not tolerate underperformance of anyone but we don’t know why he doesn’t make any changes. Their competitors such as Bloomberg and MSCI would not let this happen. They are doing ok in this market.

It start with sales and all those sales leaders. Sorry for anyone lost their jobs over the last few years.

Thanks to sales and CnRO (Chief no Revenue Officer). Poor performance!

by Anonymous
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Post ID: @bxk+1r5X7d3F

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