Great company for entry level staff, but is laying off waves of senior people - Managing Director S&P Global Employee Review

In the last several years, S&P Global has quietly laid off scores of very experienced senior people at the director, senior director, and managing director levels. In many cases people who were absolute top performers were affected. Most of these layoffs were handled very impersonally, in mass meetings of several to a dozen people all at once. In many cases the affected people's managers were never consulted or even informed until later. Although leadership will give reasons related to improving process and the like, everybody understands it is primarily for cost reasons, despite S&P being an extraordinarily profitable company. The result is that the analytic staff is getting very junior, and the senior people are all very worried. This is a reputation-driven business, where customers want to feel that their analysts are experienced and know their business really well. S&P leadership is betting that the franchise is strong enough the get away with gutting the ranks of senior analysts, managers, and risk management people without damaging their reputation or deal flow. The result is lower morale among experienced staff and more voluntary departures, as people no longer feel that strong performance provides stability to their career at S&P.