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Is Simon's internal culture deteriorating?

31
0x317a…a7a2
·20d ago·1 comments
I’ve been with Simon for a decent stretch now, and I’ve noticed a massive shift in how we treat personnel lately. It feels like we went from being a place where people built careers to a place where we’re just waiting for the next reorganization. With these recent layoffs, it’s clear that the strategy is to cut costs at all levels to appease shareholders, but they’re gutting the institutional knowledge that actually keeps these malls running. I see people checking out mentally, updating their resumes during lunch, and honestly, I don’t blame them. We’re being asked to do more with significantly less resources, and the 'do more with less' mantra is getting old fast. Does anyone actually believe the growth projections they showed us last month, or is that just to keep the stock price propped up while they quietly exit headcount? I’m looking for an exit plan myself; the uncertainty is just too much to deal with daily.

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Comments (1)

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14
0x149a…8b27
·20d ago

It is the same story across the retail REIT sector. Management is completely obsessed with short-term metrics to satisfy analysts, completely ignoring the operational reality on the ground. When you prioritize cost-cutting over the people who actually maintain these properties, the decline in asset quality is inevitable. It is not just you; the internal morale is at an all-time low because leadership views employees as liabilities rather than the backbone of the business. You are right to look elsewhere before the ship takes on more water.