Wednesday, July 31, 2019

Waddell & Reed Stays Losing Jobs

Harsh times already hitting golden Ghetto . . . Here's one example out of many:

Overland Park's Waddell & Reed Says It Will Lay Off 158 Employees

Waddell & Reed Financial Inc. has filed notice of its intent to lay off 158 employees. On Tuesday, the Overland Park-based financial services company disclosed the planned cut in a WARN (Worker Adjustment and Retraining Notification) Act filing.

6 comments:

Anonymous said...

Harley Davidson, Sprint, DST, KC Southern, multiple retail chains, and now Waddell & Reed. Layoffs, layoffs, layoffs.

Trump sure has the economy cooking now.

Not only did his Wall Street tax cuts not increase wages, businesses are actually cutting jobs. Even the Fed has recognized Trump's failures and just dropped interest rates today in an attempt to head off his oncoming recession.

Anonymous said...

1. Harley Davidson- price of foreign bikes and Millennials more interested in scooters did that.
2.Sprint never recovered from buying Nextel in the early 2000's and was leveraged in debt because of it.
3. DST was bought and never changed their business model i.e. everyone has their own stocks thanks to broker/dealers like Charles Schwab and Scott Trade.
4. Haven't heard anything about KC Southern.

Now we will hit a recession but hopefully not for a while. The reason this city cannot get or keep companies is crime and high KC taxes. Doesn't help that this city is 8th highest taxed city in the US and is deep in debt. The real problem with KC is shitty management that starts at City Hall.

Anonymous said...

^^But Waddell & Reed is in Kansas and moving over to KC, so your shitty little argument doesn't really hold water now does it???? Weird.

Anonymous said...

^^^They are moving from Kansas to Missouri for tax incentives (border war argument) and Waddell has lost a significant book of business due to Advisors opening competing businesses. Weird. The move isn't bwcause Kansas City is a great place to business. It all boils down to dollars and sense.

Anonymous said...

^^^and yet it is a great place for business. Weird.

Anonymous said...

Don't forget the pretense that a fountain of great companies is gushing out of the Entrepreneur parrot cheer lead that goes nowhere in particular. Other than funding a whole insider bureaucracy that is that hypes things as you would expect.

Tech changed portfolios, they are changing transit.

KC seems to want to lock in what was, which is not a winning strategy.