#leadership

I hope I am wrong but naming Takis immediately as the permanent ceo feels like a short sighted panic move. I am surprised they didn’t name him acting while the right long term leader could be found.

I've been here for for over a decade. Our people have knowledge and experience that can't be replaced. But leadership doesn't care. They've gotten rid of good people for stupid reasons.

They hire another old banker from another bank. Really thinking outside of the box here….lol.

I used to think that if I kept my head down and did solid work, that’d be enough to move forward. After a few years here, I’m not so sure. The people getting promoted aren’t always the most capable, but they’re usually the ones who know exactly who to compliment and when to be visible.

I’ve never been comfortable pretending to admire every decision from leadership or joining every little workplace circle. I’m polite, I help my team, and I meet my goals, but that doesn’t seem to stand out much.

It’s made me rethink how success works in some orgs. Skill matters, but being liked by the right people can matter even more. I don’t want to become fake just to get ahead, but I’m starting to see why some people do.

You should never have managers in charge who cannot tell leadership the truth. You have managers waiting to get a Greencard who are afraid are of losing sponsorsship.....Fiserv needs to reevaluate this. The Truth shows itself through stock value and client complaints. Why should client have to complain to the CEO to get help.

Urgent leadership meeting … no smoke without fire. Speculation?

Back to normal Oxy team! Expect new leadership to create a new initiative with all the cute buzz words.

Surprised no one has mentioned this. Anyone hear why? Any opinions on the new guy? Seems like he’s blasted through the exec ranks pretty fast

Looking at this hand picked replacement by Dan, if I were any of Russo’s direct reports particularly those with duplicative roles I would be VERY worried.

It’s time to clean out the 30+ year VZ leaders in GN&T and get some fresh perspective - it’s also not Y*go just for the record.

CEO is blind to just how bad tech is and Dil p is the root of the issues. So many issues!! Customers are furious. Tech stack cannot handle spikes. Horrible planning for DNS storms. Always an excuse never a solution.

It really is amazing the lack of C Level /VP level of accountability over the years.

AOL, RedBox, bluejeans and now $47M FCC location privacy. For years employees drilled on CPNI.

Board d Member sats Hans needed to be fired immediately after 8 years of deckining stock price and net adds.

SCOTUS rules 8-1 and zero Vz accountability.

Yet if an ethical Vz sales person misses monthly targets.. 60 day PIP and fired.

There is zero hope under current Vz C Levels Verizon succeeds.

Next play is divest business units and watch C Levels all cash out $3M in stock options. Already happening.

Meanwhile, Elon:

Elon Musk: There are no lords and peasants at Tesla. Everyone eats at the same table.

“I actually know the people on the line, because I worked on the line, I walked the line, I slept in the factory, and I worked beside them. So, I'm no stranger to them.

There are many people at Tesla who have gone from working on the line to being in senior management. There are no lords and peasants. Everyone eats at the same table. Everyone parks in the same parking lot.

At GM, there's a special elevator only for senior executives. We have no such thing at Tesla.

We give everyone stock options. Many people who are just working the line, who didn't even know what stocks were, we've made them millionaires.

And I just want to say that I'm incredibly appreciative of those who build the cars, and they know it.”

New York Times DealBook Summit, 2023

The World Cup unites countries and people thru soccer and sports conpetition. It appears RV is trying to stretch the BNY global brand thru a simple selfie pic on LinkedIn acting as if the FIFA World Cup excitement is energizing the BNY work culture.

I personally see almost no connection between soccer and BNY and even less of a connection between our CEO and all BNY associates and clients. The con man continues to turn tricks to manipulate public perceptions that BNY is globally connected, socially responsible, and cares deeply about its people. All I see his RV laughing it up with Alejandro Perez.

UnitedHealth Group managed to squeeze $12B in pure profit out of the healthcare system last year solely through value extraction. Like Sears, Circuit City, and other notable companies that found themselves in the trash bin of history, they are relying on their size to keep employers, providers, and members with them. At a time when healthcare costs are skyrocketing, they could be creating value in the healthcare system and — gasp! — earning some profit for themselves. Instead, they push out anyone who wants to innovate or question the dirty tactics and legally dubious actions. Hemsley was supposed to make it better. Instead, he’s made the company culture worse and is putting short term gain above not only UnitedHealth Group’s interests, but the already strained healthcare system.

Know this, there is an avoidable trajectory here; but persist down this road and some startup will eat your lunch just like Amazon — a nobody at the time — did to Sears and Circuit City. Change course before it’s too late. Hire some technology people that actually know technology. Hire ethical business leaders that will follow the law. UnitedHealth Group could be the reason the healthcare system gets better or the reason it crashed. Choose wisely.

UnitedHealth Group managed to squeeze $12B in pure profit out of the healthcare system last year solely through value extraction. Like Sears, Circuit City, and other notable companies that found themselves in the trash bin of history, they are relying on their size to keep employers, providers, and members with them. At a time when healthcare costs are skyrocketing, they could be creating value in the healthcare system and — gasp! — earning some profit for themselves. Instead, they push out anyone who wants to innovate or question the dirty tactics and legally dubious actions. Hemsley was supposed to make it better. Instead, he’s made the company culture worse and is putting short term gain above not only UnitedHealth Group’s interests, but the already strained healthcare system.

Know this, there is an avoidable trajectory here; but persist down this road and some startup will eat your lunch just like Amazon — a nobody at the time — did to Sears and Circuit City. Change course before it’s too late. Hire some technology people that actually know technology. Hire ethical business leaders that will follow the law. UnitedHealth Group could be the reason the healthcare system gets better or the reason it crashed. Choose wisely.

The last Reorg is a massive failure, very poorly planned and executed, they will pay the price soon. Layoffs are being done in the wrong places. Instead of constant reorgs that don't work why don't you layoff all the sycophant leadership who created these strategic blunders to occur and leave the alone the IC, you will need them to rescue your org. Once you have done that look into the current ICs for talent who have vision and creativity that can lead to true innovation and not just sychophants who will do as they are told. Nah instead you will make one or two changes, shuffle around some people, but keep the same id--ts in place. Congratulations you have not changed.

Keep hearing that lots of folks are resigning

Can you all say who are the notable ones in your functional areas? Focus on senior mid-career staff/managers, and executives. Should not be any concerns on name dropping since they are already out ...

There is a real disconnect between what leadership believes is happening. What is being reported to leadership is happening. What is really happening.

I’m a manager in an area that had layoffs this year. Now when you bring up issues, our leaders say we should be quiet and thankful we have a job. Leading through threats is now normal? This place is toxic.

Layoffs not totally surprising. The dead silence from any level of leadership is the more telling aspect. This round immediately after the close of the voice of the employee surveys!

This is all public information.

With the exception of Bob Hopkins, our execs effectively get their RSUs or performance rewards, then sell that sh*t as soon as it vests.

Forms indicating an (A) are the acquisition of shares, and in this small sample, the details in the forms shows you it's only ever receiving RSUs, or performance rewards.

The rest and vast majority of the forms are (D) disposal of these shares, and if you read the detail, they are dumping that sh_t as soon as they possibly can. All of the people below are regularly dumping their sh_t. These are not the actions of execs confident in this company. They know this ship is sinking and they're in on the grift.

Skip
https://www.sec.gov/edgar/browse/?CIK=0001708062

Goff:
https://www.sec.gov/edgar/browse/?CIK=0001560409

Bob H:
https://www.sec.gov/edgar/browse/?CIK=25200002114165

Marinaro:
https://www.sec.gov/edgar/browse/?CIK=0001984186

Matt Walter:
https://www.sec.gov/edgar/browse/?CIK=0002028475

Do your own research at SEC's Edgar site.

Fun bonus fact: they all have important ownership stakes in MiniMed. Funny that.

During open enrollment last year, HR announced that the company would discontinue our previous mental health plan (Chevron Mental Health and Substance Use Disorder, MHSUD). This change meant that employees and their dependents who were receiving behavioral health benefits via MHSUD would be forced to obtain mental health coverage via one of the medical providers that we selected (Kaiser, Anthem, Cigna).

The HR email alerting us about this change very casually claimed that “the kinds of behavioral health services covered will generally remain the same” and that “costs may change.” Well, that was quite THE understatement!

I find it truly unconscionable that our ELT, who obviously had to have been presented detailed cost impact scenarios showing the devastating impact to employees, willingly chose to implement this significant reduction to our mental health benefits. And they did so knowing full well that people would be struggling even more as a result of the layoffs and reorg.

Since not everyone might have a need for these benefits (consider yourself fortunate), allow me to paint you a picture of the shocking financial impact that our family is facing.

We have the Anthem PPO. I originally called them to find out the per-session fee for this year. They initially stated $0 copay or coinsurance. That did not seem possible, as we used to pay $13 per session last year through the MHSUD plan. I called back, and Anthem stated that our cost would be 40% of the billed rate.

Assuming a weekly session, below is a cost comparison of old vs. new coverage:
— MHSUD cost = $13 x 52 = $676 per year
— Anthem cost =
— $1,000 deductible (we had not spent anything towards the deductible); this covers 100% of our out-of-network therapist’s fee for ~7 sessions at roughly $152 per session
— for the remaining 45 sessions this year, we expect to pay 40% of the therapist’s $152 fee; therefore a total of about $2,750
— that makes our total out of pocket expense for mental health benefits this year ~$3,750
— that is an increase of ~$3,074 (over 455%!!!) vs. the $676 under the old MHSUD plan

My question to MW and whoever else was involved in this decision is how can you possibly justify so callously reducing your employees’ mental health benefits and so drastically increasing their financial burden? Have you NO shame or compassion or, at a minimum, any interest in keeping your workforce mentally healthy?

We’re not talking about frilly perks here. This is MEDICALLY NECESSARY care. Mental health benefits are CRUCIAL in some cases to keep people from inflicting self-harm and possible su----e.

I am beyond disappointed in this company and its senior-most leaders. Somewhere along the way, greed took hold, and for the sake of shaving a few million off CVX expenses, you abdicated your responsibility towards the human beings you employ and their families.

To think that anything will change because of this post is utterly pointless, I know. I feel better at least having documented this egregious display of callousness from MW and the entire ELT. It might be good for all of us to remember that mental disease does not discriminate. Someday it might be you or one of your family members to suffer a mental health crisis. Ask yourself: are you proud of MW’s behavior? Do you feel his and the ELT’s decision about our mental health benefits is justified?

What is the purpose of RTO - just to burn gas, tires, increase car insurance, increase carbon emissions, stuck in traffic - and again on Teams call...

The slavery mind set of the CXO suite is mind blowing

GA showed up to the Salt Lake this week while many of the long term team were out of the office. Why were they taking pictures and counting desks? Are they on a mission to shut down the office??? There are now 25+ open seats with 5 remaining people in the location, so one cannot expect that they are looking to keep the doors open. Did not the branch have several physical security issues earlier this year? Did not zone and regional leaders visit the site just last week in an attempt to settle the team down in the wake of another long term leadership departure? What’s happening to our company?

I’ve never seen a CEO so completely disconnected and miss the message employees were trying to send.

Thousands of employees were saying the same thing- morale is declining, flexibility matters, talent is leaving, and five-day RTO is making a bad situation worse.

His response? Employees were told they’re wrong, he’s not, and there “might be a disconnect between you and your current professional choice.”

What really stood out was the characterization of the feedback as “more outliers than we’d like.” … Outliers?

When it’s most employees saying the same thing, it isn’t outliers at all. It’s the majority. The same concerns were being raised across all organizations, teams, and locations. That’s not an “outlier” problem. That’s a leadership problem.

The email read like someone who was genuinely shocked by the feedback…. But maybe that’s the real issue. When you’re surrounded by direct reports blowing smoke up your a$$ telling you everything is working, everyone is aligned, and the policy is a grand success, eventually you start believing it.

Then one day reality shows up in a survey and your mind is blown.

What made the email so damaging wasn’t just the double down on policy. It was the authoritarian mindset behind it.

Instead of asking why most employees felt the same way, he seemed determined to explain why employees were wrong instead of him. Instead of adapting, he doubled down. Instead of listening, he lectured. Instead of taking responsibility, he shifted the blame back onto employees.

That’s not leadership.

Leadership is about recognizing when a decision isn’t producing the intended results and having the humility to change course. What we’ve seen instead is a stubborn refusal to acknowledge reality and accept responsibility, no matter how much evidence piles up.

Since Stankey became CEO, the stock has delivered a negative (-25%) price return. Morale has deteriorated to all time lows. Talent continues to leave. Outside rankings of culture, morale, talent, future readiness place AT&T at the bottom of its peer group and near the broader field bottom as well.

Yet somehow employees are still treated as the problem.

At some point, the board has to ask a simple question- if the strategy is working, where are the results?

Employees are paying the price for decisions they didn’t make- longer commutes, less flexibility, less take home pay, lower morale, increased uncertainty, and the departure of talented peers.

The company doesn’t need more presence reports, more mandates, or another angry manifesto explaining why employees are wrong and to blame for the company’s failures. It needs a leader who listens, adapts, and can admit when something isn’t working.

The most dangerous thing a CEO can do is become so convinced of his own correctness that he stops hearing what everyone else is telling him, and that’s where we are. That’s the disconnect employees have been talking about all along.

Wow. Have you seen this? I just saw it. They’re talking about it all over—everyone is talking about it. Dan Schulman, the guy from Verizon. Great company, by the way, very big, very powerful, though frankly, the signal in Mar-a-Lago could be better. We’re looking into that.

But Dan—fake news Dan—he’s writing love poems. Can you believe it? Love poems! To his wife! And let me tell you, I’ve seen the poems. Total disaster. Weak. No vocabulary. Sad! He tells his wife her eyes have "low latency." Incredible. If I told Melania she had low latency, she’d lock me out of the penthouse. Total catastrophe. Dan is out there dropping calls in the bedroom. He’s got zero bars, folks. Absolutely zero bars. Sad!

We were one of the most respected American companies. Now we're nothing but a joke. What a sad reality.

I'll say it plainly. This is a blind company without any real direction. If you think I'm wrong, go ahead and prove it.

The experienced FA losses are really accelerating. Big promises that weren’t delivered by Penny and her ELT, unforced errors like ent reimagined and return to office impacting operations and aggressiveness of competitive recruiting are all contributing.

Only momentum helping EJ AUM right now is market exuberance…

People are leaving for competitors every single week. And the company isn't offering them better pay or any incentive to stay. Not even a conversation. With others being kicked out through layoffs, where does leadership think that will leave us in a few years?

One day I think we've got what it takes to climb back up. We've still got plenty of smart people and good products. But then I look at how far we've fallen and I wonder if we'll ever get that back. So I'm asking all of you. Do you think we'll find our way up again, or are those days behind us for good?

As a fresh grad. when I joined CDC design Verification (DV) , team used to have a great, merit based culture where technical decision were driven by logic and data.
Recently, a leadership change at the top for DV ruined this dynamic. The top lead lacks a technical verif. background, makes unilateral decisions, and pushes aggressive deadlines just for his upper visibility and no techincal contribution for him.
We went from a collaborative team to a strict "no questions asked" environment.
Feeling highly demotivated and could sense the same with my peers and leads.
need advise - is it worth speaking about this to the lead? is this kind of one man pushing his view normal across Qualcomm or is it a major red flag and i should start looking outside QCOM?

I want to hear from people who've moved around in their career. Have you ever worked anywhere with a more toxic environment than this place? With leadership that cares less about its employees? I'm not being rhetorical. I really want to know. Is this just how all big companies are?

Anyone have any thoughts? The guy that "was" in charge of all the cores and is now a segment head is always missing in action. How are we supposed to fix the leakage problems if SVPs are not held accountable? We all have our head buried in the sand thinking problems will go away. Such a mess.

this is so interesting

https://briefglance.com/articles/wells-fargo-exec-told-to-be-less-visible-discrimination-suit-alleges

Is this a new position? And is “Rajiv” H-1B or legit?

Genentech initiated another round of layoffs affecting its workforce. Three Vice Presidents were among the casualties in this latest reduction. This action is part of a restructuring within the Genentech Research and Early Development (gRED) group. The company is shutting down its physiological chemistry and infectious disease units. Genentech stated these adjustments ensure investments align with core therapeutic areas and portfolio priorities.

South San Francisco, California

https://www.fiercebiotech.com/biotech/genentech-executes-another-round-layoffs-3-vps-axed