Laid off from T. Rowe Price.

What T. Rowe Price layoffs have meant for employees

If you're trying to size a recent T. Rowe Price round, the numbers you'll find are partial. In February 2026 the count came from a state notification, The Banner reported, and that notice is a Baltimore filing in our tracker. For scale, roughly 5,000 of the firm's employees were in the region when it moved to Harbor Point in March 2025, about 2,000 of them at the new headquarters. It also has a campus in Colorado Springs, and a Maryland notice can't speak for that site. Only one of the four rounds since 2022 shows up in the tracker at all, so for the other three you're left with the firm's statements and filings.

The older notices take more care. Two of the five match, on place and date alone, a move of T. Rowe Price work to an outside firm, and that match is our own. The Baltimore Sun reported that the people going to BNY Mellon would be laid off and then hired, and a spokesman told the Gazette that the FIS group would stay in the same jobs. If you're reading those two notices as a measure of people out of work, that's more than the firm's statements at the time support.

In those moves and the Tampa closing the work left its old home, and what happened to a person turned on whether they went with it. The firm tied Tampa to clients who want to deal with it digitally, Technical.ly reported, and its 10-K for 2025 counts outsourcing and expanding some technology capabilities through trusted vendor partnerships among that year's steps, next to role eliminations. If a vendor move ever reaches your job, the Sun's 2015 story holds a detail worth keeping in mind. The firm's spokesman declined to comment on whether anyone BNY Mellon didn't hire would get severance, so being moved and being covered were separate questions at the time. The last two rounds reached past operations work, into all departments and then into marketing and distribution enablement.

The dollar figures are easy to misread too. Most of 2025's restructuring charge was real estate, and the roughly $50 million left is what the 10-K calls compensation-related costs, primarily severance. That amount covers all of the year's actions, so any per-person figure drawn from it would be a guess. If you work in Owings Mills, the filing comes closer to home, since the firm decided in 2025 to exit two of the seven buildings there, a move it said would reduce its occupied space. The same filing described its operating and servicing work as largely based on the Owings Mills and Colorado Springs campuses.

If you're still vesting after a layoff, the next job matters. T. Rowe Price's 2020 Long-Term Incentive Plan defines a Competing Business to take in investment advisory services, retirement plan services, discount brokerage, trust services and any other business that competes with the firm, and it applies whether you're an employee, a consultant or something else. If you're weighing another job in the industry while awards are still vesting, it's worth knowing where that employer falls under the definition. Awards made before December 6, 2021 follow a separate age-and-service table in the same section.

If your job was in Maryland, the claim rules are on Maryland unemployment benefits, and if it was at the Colorado Springs campus, they're on Colorado unemployment benefits.

A sourced history of T. Rowe Price layoffs

• February 2026, global marketing and distribution enablement roles

  T. Rowe Price eliminated roles on both teams on Feb. 6, The Banner reported, and a state-mandated notification posted Feb. 12 put the layoffs at 54. A spokesperson cited a comprehensive operating model review.

• July 2025, positions cut across all departments

  A staff memo seen by Bloomberg News said positions were going across all departments and the firm offered generous transition assistance and outplacement support.

• July 2023, 2% workforce cut

  A spokesperson confirmed the cut and said the firm offered transition assistance packages and outplacement support, the Baltimore Sun reported, citing MarketWatch for a figure of 150 positions.

• November 2022, 2% of the global workforce

  The firm said it needed to cut expenses and was eliminating some roles and reducing third-party spending, the Baltimore Sun reported. It said it offered transition assistance and outplacement.

• May 2021, Colorado and Owings Mills WARN notices

  WARN notices dated May 19 and May 20 listed 287 Colorado jobs and 11 at Owings Mills. Our own place-and-date comparison links the Colorado notice to the FIS move, a link the Gazette's report doesn't make, and leaves the 11-job notice apart from it.

• May 2021, technology and operations work contracted to FIS

  A deal scheduled to finish Aug. 1 would shift 280 Colorado Springs employees and 520 in Owings Mills to FIS, the Gazette reported.

• 2018 to 2019, Tampa operations center closing

  Announced in 2018 for June 2019, the closing put 169 jobs on Florida filings, Technical.ly reported, and a spokesperson said all would receive severance benefits and be offered outplacement. About 35 others would stay in Tampa, working remotely.

• June 2015, fund accounting work outsourced to BNY Mellon

  T. Rowe Price said 220 employees, about 200 at Owings Mills, would be laid off, then hired by BNY Mellon in August, the Baltimore Sun reported. A 211-job Owings Mills notice dated June 1 matches on place and date in our own tracker audit, a link the Sun's report doesn't make.

• April 2009, 288 positions after assets fell

  The firm eliminated 288 positions, 201 of them local and most in phone, processing and technology, the Daily Record reported, with severance expected to cost about $2.5 million. Its last big cuts came in 2001, when 235 associates went in two rounds.

What to do if you're laid off from T. Rowe Price

• File for unemployment in the state where you worked. Benefits run from your filing date, and severance usually doesn't block you. T. Rowe Price's biggest hubs: Maryland, Colorado. Somewhere else? Every state is here.
• Apply for financial and hardship assistance. Unemployment supplements income, but food benefits, health coverage and utility help are often available as well. Here's some of what T. Rowe Price's hub states run: Maryland, Colorado, and every other state is here.
• Mind the health insurance window. Losing coverage opens a 60-day special enrollment period, and an ACA plan usually beats unsubsidized COBRA. Compare your options before the employer coverage lapses, and read how the COBRA clocks run if you are weighing it seriously.
• Get your real runway number. Severance plus savings divided by reality. The calculator takes five minutes.
• Know which clocks are already running. Severance review windows, COBRA election, visa grace periods, and 401(k) rollovers all run on federal deadlines that started at termination. All five deadlines are here.