The first sign that changes were coming to the company was the massive changes in executive management. The younger generation and the workplace in general does not have the values it did at one time. They will take what they can get at the expense of others. Sadly, they are in the same company with no long term job security. This in combination with greed will be the eventual down fall. If you are still working for the company, I would suggest you start looking for other opportunities. The company may not fall today or tomorrow, but the day will come. In my opinion, there will be a buyout or headlines will destroy the reputation of the company.
I worked at Raymond James in a few departments. One of them worked with potential candidates to be a financial advisor with Raymond James from other firms. Every workplace has good and bad people. However, Raymond James only sees the bottom line and will hire borderline ethical advisors if the production is high enough. It is a business cost to them if the advisor ends up in legal trouble. Without clients the company will have problems. There are good advisors, but RJ has sacrificed integrity for profits.
I have read posts regarding pay and bonuses. They will not get any better. This is true in most of corporate America and Raymond James. If you read the annual reports after you have been told there is just not enough money in the budget or they had a bad year, you will find executive management typically receives substantial bonuses and incentives. This is just a trend that is not going to end anytime soon. CEO pay in the 1960's was about 30 to 1 compared to a typical employee. This is now about 300 to 1 in corporate America. Top level executives are also included in this. Raymond James does not understand the one fundamental that makes or breaks a business. This is the customers and employees. Henry Ford was a man that understood this. He paid his employees the most from other car makers knowing this would keep his work force happy and they would also be able to buy the cars he made.
Advancement in Raymond James is minimal unless you are in the right circle. The most you can hope for if you are a regular employee is making it to middle management. However, for this to happen someone would need to leave or die.
The layoff was nothing personal, but only a financial decision. This is why older employees that were with the company for some time were let go. With these people gone, there was a savings in salary and benefits. The result is a savings in money, but letting go experienced people. This will be a problem for RJ if they continue to target these people. I know this first hand by seeing much of the dead weight that did exist. Personally my productivity was much higher than many of my peers. I know I was paid more. This is why I was let go. What the decision makers failed to realize is when you get rid of people that are productive and you keep some that are not because they are cheaper, in the end it is a wash. It takes two or three people to do the same job. With their combined pay it is more than the one person let go.
I was not unhappy when I was laid off. It was the feeling of loosing a job, but not the job at Raymond James. This was a relief.
If you are waiting for the environment to get better, I can tell you with the current structure the odds are not good. In addition, the hiring practices will eventually catch up with the company. Eventually everyone that has a large stake in the company will be looking to ride off into the sunset. You will probably not be included.