Thread regarding Edward Jones layoffs

@aq damn I hope so. I missed this VSP by 1 measly year. It’s going to be a rough ride and I am buckling in. Thinking it makes sense to ‘retire’ as soon as I possibly can. Any benefits to that other than keeping LP?

Leaders eat last.

At EJ, "leaders" trample their way to the front of the line, load up three heaping platefuls, and leave the crumbs for those still waiting for firsts.

Shameful. Disgraceful. Par for the course At EJ.

@bh Yeah I heard the same thing regarding cutting back on the bureaucracy by trimming the fat within leadership roles, but instead they fire me - a licensed 16-year associate within trading. Current management is the worst thing to ever happen to edj.

@bh on the Enterprise Reimagined Jones link page, they changed it from "This isn't about cost cuts" to "This will help pay for $500 million of technology improvements".

I still have a job but demoted a pay grade due to “benchmarking”. I was under the impression the reorg was to cut layers of leadership but it seems to be to cut individual contributor compensation.

Welp they cut our team numbers, and now it looks like they are going to give us the responsibilities of another team on top of ours. Or at least they think that's what is going to happen. We have a meeting tomorrow and I'm going to hear them out, but if pay increase isn't involved (spoiler: it won't be), I'm gone.

Luckily, Im blessed to have in demand skills and a good network so a new job is just a phone call away. New job would have its own problems which is the only reason I haven't made the call yet, but if the money isn't right, peace ✌️

My entire team is staying, no changes, still grade 12. But some colleagues from other teams are affected. Praying for them. This experience is demoralizing. I’m sure even those who aren’t impacted don’t view the firm in the same light anyway. From this point on, I’ll always be alerted and ready to move when external opportunities arise.

Tech / Digital, ISP'd. Nearly half of my team is gone.

@b0 Well it's a meeting day for us. Our team isn't being displaced, but rather a lot of changes happened around us. Just curious what was mentioned during the other person's meeting.

@as that’s no meeting day, they should have it on Wednesday instead of Thursday

What if they end up saying your job is safe but you can take a VSP. Aka another VSP offer. Would be wild.

Rumor is the later in the day the meeting is for Tuesday meetings the more likely it is it's a move to a new job/team role rather than ISP

@ak my team has a meeting with our GP on Thursday. Can you let us know (of course not detauls) roughly what it's about?

All quiet on the Digital front.

@am Is be willing to bet good money, you'll get an opportunity to take that VSP in the not so distant future.

@ak wow an all hands today? Those were supposed to start tomorrow. Still no news in this dept in tech. Nobody has heard anything.

I’ve still heard nothing yet. This is literal torture. I’m so mad I missed the VSP offer by only a year. It’s going to be rough for those left behind I can guarantee. To those who didn’t want to leave I wish you well, but this is not a firm to be proud of or support. The whole process was and is shameful.

1.5 days and heard nothing from anyone. All hands meeting for my entire dept here in a bit. Guess that means those who got this invite 'are good'. In Tech/Digital. I feel bad for a close co-worker of over 20y that got the GP/HR call yesterday and was electronically cut off before they could make the meeting. Sad professionally that of all the things they would sc--w up is making someone's worst day even worse when they have to sit on the phone with helpdesk for 30 minutes to get access back. For everyone that has been affected by this so far, I feel for you. Good luck to you and all of us that remain.

@a7 Sorry to hear. I thought the whole purpose of “talent mapping” is to map people with relevant roles that will better utilize their skill sets. This is backward for sure, and demoralizing.

I had a scheduled zoom call with my new GP. I've been placed into a role I don't want and that will underutilize my skills. I'm grateful to have a job but feel angry and sad.

Teams invite from GP. Role staying status quo for now. Told not to share with anyone. GP was very human in approach which I appreciated. I cried even though I’m staying. Survivor’s guilt I suppose. My heart is with everyone despite my outcome. I love my colleagues, role and impact as I know many of you do.

Teams call out of the blue. I was told to look for an invite this whole time and got nothing legit was so unprepared for that to happen.

@a1 you are lucky you got that . That was not a required call. You must have a partner that cares.

@a1 they called your phone or a Teams call out of the blue?

My role is staying same. No demotion. Same pay. However, new boss and realigned in structure as they warned.

Does this help those demoted or ISP’d? NO! My heart goes out to them. But I also believe that there will be many roles open in careers to apply for over the next few weeks. So fingers crossed for those who wish to stay with the firm and apply.

For me it was positive news in terms of a have a job still. I did not got an invite or anything it was a random call that was 2 min long and was told you are moving here and this is who you are under.