MCG Capital - Sinking Ship | Glassdoor
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Helpful (2)

"Sinking Ship"

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  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Employee - Anonymous Employee in Arlington, VA
Former Employee - Anonymous Employee in Arlington, VA
Doesn't Recommend
Negative Outlook
No opinion of CEO

I worked at MCG Capital full-time (More than 5 years)

Pros

Use to be many. Now none

Cons

Sinking Skip
*3 rounds of major layoffs in 5 years
* Closed 2 offices and moved the 3rd because the staff size shrunk so much.
* 80% reduction in head count
* Founder and CEO sacked. How'd that work for Apple back in the 90s?
* Every "Chief" level position turned over in 5 years.
* Vacation time eliminated as a benefit and turned in to "honor" system. Healthy companies don't do that.
* Company almost was sold in 2011 to another firm. That surely would have meant more layoffs. When will they try again?
* Company went cheap on 401k. Used to be major market player Fidelity. Switched to ADP. Huh? I didn't even know they did retirement plans. Not impressive
* Insider on "improvement committee" said management considered eliminating the retirement fund. This was met with much resistance by VPs but that make sense given that this is a company full of investors so naturally there'd be some pushback
*2012 was only time in 5 years company had an annual profit
*Portfolio value shrunk by half since 2007
* Morale is non-existent

Regarding layoffs, I understand market conditions change and companies must adapt. I get that, but there are ways to deal with this. One way is honesty, openness, dignity and respect. The other is secretive and disrespectful. Some employees there for DECADES were let go with basically a get out now. Another employee was given an end date only to have management break the promise 4 times. Nobody is entitled to job. What loyal employees are entitled is dignity and respect. Used to be a lot of good people. Now only the sharks remain in the shark tank.

One note: Site says CEO is Steve Tunney. No longer true as of Oct 2011. His replacement was a short-time and left a year later. Now CEO is Hagen Saville.

Advice to Management

treat employees with respect

Other Employee Reviews for MCG Capital

  1. "Great experience. But probably not a place to spend the rest of your career."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Arlington, VA
    Former Employee - Anonymous Employee in Arlington, VA
    Doesn't Recommend
    No opinion of CEO

    Pros

    Experience. Definitely you will have an opportunity to see and do a lot of very exciting and interesting things. To truly appreciate this, you will have to push for exposure and ask a lot of questions, and take on a lot of responsibility.

    Cons

    Lack of competitive compensation. Lacking strategic direction and tactical execution. Despite experience, little opportunity for advancement. Too centralized.

    Advice to Management

    Develop 5-year plan and share with employees.


  2. "Likes and dislikes"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    Paid well, good benefits, like co-workers

    Cons

    too many silos and self-entitled managers

There are newer employer reviews for MCG Capital
There are newer employer reviews for MCG Capital

See Most Recent

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