Russell Investments Employee Reviews about "cost cutting"

Updated 23 Jul 2019

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3.8
65%
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68%
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Russell Investments CEO Michelle R. Seitz
Michelle R. Seitz
50 Ratings
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Reviews about "cost cutting"

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  1. Helpful (1)

    "If you like cutting costs, low morale, and lack of investment, this is the place for you"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Seattle, WA
    Doesn't Recommend
    Negative Outlook
    No Opinion of CEO

    I have been working at Russell Investments full-time for more than 3 years

    Pros

    Some people are really trying to keep the Russell spirit alive. There are still a few leaders in the firm who try to make it a great place to work. Some teams have remote/flexible schedules

    Cons

    Cost-cutting, lack of transparency, poor executive leadership, lack of vision/strategy, poor benefits. Compensation is WELL below industry standard

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  2. Helpful (1)

    "Lost way"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Senior Marketing Manager in Seattle, WA
    Recommends
    Neutral Outlook
    No Opinion of CEO

    I worked at Russell Investments

    Pros

    Good staff still there from the old days - trying to hang onto culture

    Cons

    Focus on cost cutting to create a better financial position for executives and PE owners. Unable to grow top line revenue. Continually cutting quality staff - who then go onto to be ‘stars’ at competitors. Revolving door of CEOs. Investment proposition.Latest CEO spent months rearranging words in mission statement rather than focusing on growth opportunities.

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  3. Helpful (4)

    "only some people are good"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous Employee 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Russell Investments full-time

    Pros

    sales team is strong family culture nice office

    Cons

    owned by a PE firm - cost cutting a lot of people doing useless jobs in high levels low employee morale

  4. Helpful (1)

    "A brief review of Russell"

    3.0
    Former Employee - Anonymous Employee 

    I worked at Russell Investments full-time

    Pros

    Great co workers and benefits

    Cons

    Extensive focus on cost cutting

  5. Helpful (2)

    "Culture change"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous Employee 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Russell Investments full-time

    Pros

    There are still plenty of talented and professional people working at Russell Investments.

    Cons

    The change of ownership to a private equity consortium has resulted in a complete culture change, significant cost-cutting and rolling lay-offs. Morale has fallen and many associates are disengaged and disoriented.

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  6. Helpful (5)

    "It started so well...."

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous Employee in London, England
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at Russell Investments full-time for more than a year

    Pros

    Good work/life balance. Fantastic location in Central London within minutes of the West End. Some down to earth people (although, not many!)

    Cons

    Where do I begin? There is absolutely no interest from management to help anyone progress your career, unless you are 'in' with particular people. They will axe staff that are very talented just to hire someone at a more junior level just to save a few quid, even though I know they are now struggling. There is a culture of continuous cost-cutting since being taken over by TA et al. Some of the more senior management act as if they are god-like entities. There is a clear lack of direction or focus on business decisions, to the point they speak huge amounts of money on a specific system, to replace it for a system just as expensive a year later. Avoid.

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  7. Helpful (12)

    "Stay Away...You've Been Warned...You'll Thank Me Later...You're Welcome."

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Investment Operations Analyst in Seattle, WA
    Doesn't Recommend
    Negative Outlook
    No Opinion of CEO

    I worked at Russell Investments full-time for more than 3 years

    Pros

    Beautiful office building with open floor plan and many fancy meeting rooms. Superb location, particularly when using public transportation, since the metro station is across the street. Pike Place is within walking distance for lunch or happy hours. Looks good on your resume, so you can land a solid job afterwards.

    Cons

    Little formal or informal training for junior level positions (sink or swim...mainly of the sinking variety), which is precisely when you need it. Co-workers will look to stab you in the back, make you look bad, or set you up for failure just to move up the ranks, which doesn't really even happen. The type of work you do is repetitious in nature and the tedium kills any ounce of joy or creativity you may have brought with you from college and previous roles. People don't like when you raise concerns, have questions, or in other words do your job...organizational inertia is strong. Hours are brutal. Traders and Portfolio Managers are on balance: rude, impatient, and irrational. They are treated like royalty and are never implicated when they mess up, which happens more frequently than they, or anyone, would like to admit. However, there were a few good ones amongst the sea of bad ones (though word on the street is that many have moved on or were moved on). I am not entirely sure if the people turned out this bad as a result of the rotting culture or they are just those that have succeeded in those particular roles (self-selection). In all likelihood it was a strong dose of both. The Asset Management segment of the business was purchased by a Private Equity firm, TA Associates. Needless to say, they have been slashing costs, to the tune of $60 million per year (going on the second year), without regard for the impact on moral, company culture (which used to be a phenomenal), and work loads (which were already stretched). Furthermore, since the deal (purchase of the company) was done using a high degree of debt (leveraged buyout), the firm owner's (TA Associates) has no choice, but to continue to slash costs if they want to have enough cash to make those hefty interest payments. Supposedly, TA Associates "plans" to hold Russell Investments as a foundational asset in a new fund for somewhere between 5 and 7 years. If that is case, I'd stay away until that sale goes through. Oh and finally...compensation is mediocre for the role, area and industry. Wages are frozen even if you're promoted and insurance premiums skyrocketed (this goes back to the whole cost cutting thing), so don't get sick. But don't worry, they are keeping the bonus pool nice and fat. Best of Luck!

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  8. Helpful (4)

    "Wish I could give a better rating"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Manager in Seattle, WA
    Doesn't Recommend
    Negative Outlook
    No Opinion of CEO

    I worked at Russell Investments full-time for more than 5 years

    Pros

    Still has a high reputation within the financial services industry

    Cons

    a cost-cutting culture has been in place for a while now, making the organization very lean... to lean in terms of staffing

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  9. "Private equity has changed everything"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
     
    Doesn't Recommend
    Neutral Outlook
    No Opinion of CEO

    I worked at Russell Investments

    Pros

    A few extra days off

    Cons

    Extreme cost cutting environment Overly bureaucratic and political

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  10. "Don't bother looking at Russell until after an IPO"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous Employee 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Russell Investments full-time

    Pros

    The people (who are left) are amazing. The last remaining evidence of a fantastic family grown business is visible at times.

    Cons

    Two sales in the course of two years. Need I say more? Cost cutting everywhere. Teams are horribly under resourced. Morale is unacceptably low. None of the benefits are competitive in the Seattle market.

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