Thread regarding FactSet Research Systems Inc. layoffs

factset hires almost exclusively from within. they hire kids out of college, and promote internally. while this is a selling point for new hires, this also means that the company has no MBAs, nobody with advanced degrees, nobody with outside experience, and nobody with any formal knowledge of anything except for factset. it's the blind leading the blind. it's not a sustainable business practice. constantly pushing people up internally means you're putting people in roles they have no business being in. and then when they suddenly don't excel, they get laid off...