Shift in regulatory environment to deregulation within financial services led to decrease in sellable work Fall 2017 - executive leadership have continuously promised strategy to turn around downward trajectory of firm but have failed to produce results.
Lack of career growth - upon entry to the firm, was told firm culture was meritocratic. However, 1) promotions of high performers did not take place going into 2019, 2) poor performers have been promoted at the same time as high performers on the previously consistent, once-a-year promotion schedule, and 3) individuals new to the firm whose parents play golf with executive leadership have survived recent layoffs, including a major layoff fall 2018 in which half of the work force was let go (including two women who were both in third trimester of pregnancy and great performers - firm reversed decision to layoff both women when they realized how bad the optics were/the risk of potential lawsuit).
Too many at the top who don't know how to sell business - executive leadership focused on making connections within industry, which is good, however the ability to close is severely lacking, with some service lines being able to sell better than others. Individuals who could sell business have been leaving in droves, resulting in significant drain to pipeline of work.
