#leadership

Financial Solutions interim leadership (Andrew Gelb and Srini Krish) are confirming what the Street has been whispering since Jana Partners’ letter hit: the $500 million Project Elevate savings target is dead. The activist is pushing hard for $1.25 billion by 2029 and wants Palantir brought in to accelerate the tech cleanup. New CEO Takis Georgakopoulos (the ex-JPMorgan payments guy who took over after Mike Lyons bolted for Truist) is already reviewing every cost center.

Expect the real bloodletting after the November 3 earnings. They’re looking hard at residual legacy ops, certain debit network remnants (Star/Accel chatter never really died), non-core Clover support layers, and parts of the old Financial Solutions stack that Dhivya Suryadevara left behind when she exited. Adam Rosman’s departure from the legal/admin side was just the first visible crack. Insiders say the next round won’t be another quiet 98-person New Jersey WARN notice—it’ll be bigger, faster, and uglier. Georgakopoulos is monetizing what he can, divesting what he can’t, and the margin pressure is real.

But here’s the part that doesn’t make the analyst notes.

In the closed-door strategy sessions last week, someone apparently brought shrimp. A lot of shrimp. One of the interim co-heads looked over and said something about the ocean running out. Nobody laughed. Then the conversation somehow drifted to whether Finxact could be pitched as a core ledger for two-sided marketplaces and also whether anyone had ever actually been to Akron. Someone mentioned flying there just to settle an old score. Another person started talking about life-support machines and coma wives. The whiteboard somehow ended up with “je-k store” written on it in three different colors.
By the time the meeting broke, the official action item was still “accelerate cost reductions and evaluate Palantir,” but the unofficial one—the one people keep repeating in the elevators—was simpler:
“Well, the je-k store called… and they’re running out of you.”
That’s the real Project Elevate status update. You’re welcome.

Does Shannon Bell have any product or technology experience?

What's people thoughts? Iam surprised no changes in personal, however a few wings look to have been clipped!

Didn’t realize that the board of directors chairman is the chief customer officer of Nordstrom’s. So someone with no insurance experience and no understanding of what reps go through is at the helm of the largest p&c insurer in the US. Sounds about right.

Benchmark Mortgage is reducing its workforce by 82 employees. This significant layoff includes the company's Chief Information Officer and other high-ranking executives. The company is closing its wholesale and correspondent lending operations. These actions are part of a strategic shift to concentrate on its retail lending sector. Resources will be reallocated to support this new focus.

Plano, Texas

https://www.bizjournals.com/dallas/news/2026/10/02/mortgage-lender-enacts-layoffs-including-c-suite.html

Would be very interesting to know the terms of the deal. . .

https://www.mercurynews.com/2026/09/29/tech-san-jose-ibm-almaden-build-economy-ai-data-property-internet-jobs/

Advanced research, AI work, data center operations, cutting-edge computing are eyed at site

By: George Avalos | PUBLISHED: September 29, 2026 at 1:32 PM PDT | UPDATED: October 2, 2026 at 10:34 AM PDT

SAN JOSE — An affiliate of Blackstart Digital is looking to put the former IBM campus in San Jose “back to work” after striking a deal to purchase the multi-building property, the company told this news organization.

The affiliate is expected to complete the purchase of the campus at 650 Harry Road before the end of the year, according to Blackstart Digital, whose managing partner is tech entrepreneur Chadwick Manning. The company’s work includes transforming existing older sites into modern tech hubs.

“For decades, researchers on this hilltop did work that helped make Silicon Valley what it is today,” Blackstart Digital said. “Our first goal is simply to put this campus back to work in a way that honors its legacy.”

The San Jose City Council in August voted 9-2 to rezone two sections of the campus, despite opposition from residents who demanded municipal leaders scrutinize plans for the property more rigorously.

With the vote, the property was rezoned as an “industrial park zoning district” and the surrounding empty land was designated an “open space zoning district.”

“The campus has seven buildings containing more than 500,000 square feet within its 35-acre industrial-park area, buffered by 500-plus acres of open space we do not intend to develop,” Blackstart Digital stated. “We have no intention or plan to develop the surrounding open space. Our team has local roots, and we know how much the trails and hillsides matter to this community.”

The property became available after IBM decided to close the research hub, shift workers to its Silicon Valley Lab at 555 Bailey Road on the edges of Coyote Valley in San Jose, and put the Almaden property on the market. Cushman & Wakefield, a commercial real estate firm, has been marketing the site.

“There have been a number of conversations regarding this property around the future use,” San Jose Planning Director Christopher Burton told the City Council during the Aug. 18 council meeting. “We’ve had a number of different groups that have inquired about different types of uses on this site.”

City officials during the meeting attempted to assure the public that the council’s rezoning vote alone didn’t suffice to approve a specific permit or permits for business activities or redevelopment at the site.

However, Bob Staedler, principal executive with Silicon Valley Synergy, criticized the city’s transparency with residents.

“The level of disconnect between what was presented during the rezoning process and what we are learning now is reprehensible,” Staedler said. “Before anyone asks the public to trust the next review process, the city needs to explain how this happened and who knew what and when.”

However, Staedler said he isn’t opposed to a reuse of an underutilized property.

“In fact, putting the existing IBM campus back to productive use makes sense,” Staedler said. “But the public and the council deserved an honest description of what was actually being contemplated.”

Documents filed on June 2 with San Jose planners show Blackstart Digital filed for an environment review with July 2028 as the target timeframe for a hearing date and possible decision.

Blackstart Digital envisions several citywide benefits, including construction jobs for renovation work and long-term skilled positions in research and incubator centers. A functioning research center also could generate business for local shops, restaurants, hotels and service providers, as well as produce additional tax revenue for the city.

The tech hub could accommodate an array of future uses, including advanced research and development, startup incubators and academic partnerships, and quantum computing, Blackstart Digital said

“It is uniquely and beautifully designed, and we plan to keep the existing buildings in their current form,” Blackstart Digital stated.

The campus currently contains multiple generations of existing data center facilities. A 25-megawatt power station installed by IBM already exists on the site.

“We intend to expand capacity, subject to power availability,” Blackstart Digital stated.

The company said the campus can be sustainable and green, with closed-loop cooling and advanced battery safety systems. Blackstart Digital aims to use “smart-grid software” that can shave energy use at peak demand times.

Any specific proposals would undergo a full review, as appropriate, under the state’s Environmental Quality Act rules, or CEQA, the company said.

“As ideas take shape, we will work through a full public process with the city of San Jose, neighbors, community leaders, conservation groups and open-space organizations,” Blackstart Digital stated.

i honestly think part of the proble is our executives just aren't as good as the people running some of these other car companies. look at toyota &honda. people keep buying them because they are reliable and they give customers what they want. now you have the rav4 passing the f150 and that should be a pretty big wake up call. the f150 has been one of the biggest things ford has going for it for years.

then look at the edge. ford got rid of it and maybe the edge had problems and maybe sales weren't great, but meanwhile toyota keeps selling the rav4 like crazy. korean companies are doing well too. so somehow everybody else keeps figuring out what people want while we keep changing plans. we used to benchmark toyota and honda all the time. from what i remember we would look at a few things they were doing, copy a piece of it, and then go right back to doing things the ford way. we never really changed the whole system. that is what bothers me.

toyota is not doing magic. honda is not doing magic. they just seem to make better decisions over a long period of time. at ford we cancel products, start new programs, reorganize, change priorities, bring in new leadership ideas, talk about software, evs, subscriptions and whatever the new thing is. then a couple years later the direction changes again. and when something doesn't work the explanation is always complicated. regulations. interest rates. china. labor. dealers. suppliers.

customers didn't understand the product. whatever. at some point maybe the answer is simpler. maybe the people making the big decisions at toyota and honda are just better at their jobs. you can make fun of toyota all you want, but customers keep walking into their dealerships and buying their vehicles. that is the scoreboard that matters.

(~VISIONARY) &. (~INNOVATIVE) & (~HUMAN_FIRST) & (~ORGANIC)

Finally, after the massive layoff from this summer world wide, it's there in France.
Former employees of Talend are being run over by a truck (32 out of 280 positions) even though results in France are positive. Welcome to Qlik. at this rate, there will soon be no one left. The justifications are absolutely pathetic.
The announcement was made two days after the visit of the new grand guru Saugata in France, absolutely perfect timing.

Is EB really that good?

"A new development shows that even senior executives consider leaving their jobs over requirements to show up to work in person. Microsoft is losing its LinkedIn CEO after nearly two decades, after he determined that he would have to show up in person to effectively lead the company — and he said that was a price he wasn’t willing to pay.

• After nearly two decades at LinkedIn, CEO Ryan Roslansky is leaving.
• He determined that to effectively lead the company, he would have to show up in person at Microsoft’s Redmond, Washington headquarters.
• Roslansky announced that he is moving on rather than accept the significant return-to-office change to his working arrangement."

https://www.msn.com/en-us/money/executive-leadership-and-management/linkedin-ceo-is-leaving-after-18-years-says-he-didn-t-want-to-return-to-the-office-full-time/ar-AA2dCybB?ocid=entnewsntp&pc=U531&cvid=6ac3fdc945af456bae8e8ab5acf7b047&ei=25

Oh look, already a Microsoft replacement for MJs spot. Shocked. Buckle up for more micromanaging

David's Bridal Names Former Nike & Magnolia Finance Executive Kathy Cherian Chief Financial Officer

https://www.accessnewswire.com/newsroom/en/consumer-and-retail-products/davids-bridal-names-former-nike-and-magnolia-finance-executive-kathy-c-1228255

seems to have gone through more jobs than a stripper in Vegas. Well...good luck. I wish Trim Ryan were around to shed his hilarious pearls of wisdom on this

https://www.efinancialcareers.com/news/citi-hired-a-new-chief-technology-officer-from-ubs

So new head of Refining coming back to a company that should have never let him go. A good upgrade for the company but a clear indictment on the current second in command of Refining. Good for the board to see he is not capable.

I am confident God will judge the corrupt corruption and bring it down. Really hope some, if not all, the C-Suite executives go to prison or at least somehow get fined so badly that it hurts them where they care and worship the most, their pocket books.

What happened to Bill Jones? I noticed he is no longer listed in the company directory. He was one of the few executives I liked.

The ceo is clear

There always seems to be another message about development and career growth, but the reality feels very different. I'm at the point where I've stopped expecting this company to invest much in my career. Nobody seems to give a damn whether employees are growing.

The ISG town hall last week was a narcissist’s wet dream. The short guy went on and on about revenue and how they went all in on SDD and how customers don’t know what to do. The self congratulations and how wonderful everything is going.

All bullsh-t.

Didn’t even address the layoffs of 10,000 of thousands of people across the company and in ISG alone.

Not many attended, the rooms were not filled and nobody clapped. Then of course as narcissists would they blamed the audience for being “flat”. Or an alternative thought. The audience hates you, thinks you are pieces of sh*t and are money grubbing sc-m bags. Did you think of that? No, most likely not. A set of narcissists don’t think that way. It’s always the other guys problem.

Normally most would be thrilled going from a $30 to a $500 a share company in less than 18 months. It’s all fake. Much like this company. Nothing is real or it’s not real for too long.

It’s about the story not actually delivering on the story. Just the story. Just like any good narcissist. It’s about the story and when this story starts to have holes and gaps. You’ll be to blame. Not them.

Biggest set of narcissistic, political sc-m bags on the face of this earth are in this company and you’ve got a whole bunch right in ISG.

Not seeing any good upcoming initiatives. Is this a strong sign that senior leadership has just stopped thinking about growth, and preparing for sell?

Management is clueless on WhatsApp work to assign to their subordinates. They're randomly assigning labour work.

PayPal has not delivered anything meaningful to the customers from almost about 2 years.

is this true only for certain teams or situation is same across?

Good people are disappearing with no rational explanation and the ones left are anything but transparent. Morale at an all time low despite solid Financials. People coming in from Amazon that know nothing about the business. What the he-l is going on?

@ EM Career progression requires 3 elements

Performance (~10%): This is the day-to-day work you do, including its quality and timeliness, precision... While a must, exceptional performance is only the entry ticket to be or stay in the game... It's not the primary differentiator for promos... you do not have to nail this, it needs to be 'good enough'.

Perception/Image/Personal Brand (~30%): attitude and presence. It is how others see ur professional potential... your leadership capability, and how you align with the way how things are done at EM.

Exposure (~60%): It's who knows you, who is aware of your contributions and what u do... this is your visibility among key decison makers and org leaders. W/o exposure, high performance WILL go unnoticed.

Being made by people in India and China, mainly China. When you look at Company updates, internal news, emails, etc. there is great focus on China. A lot of the higher ups are not in the U.S. Also Ford makes a greater effort to promote the ideas and so-called contributions from these other countries. They do not give near that amount of attention to U.S. employees. Even with all of these people making the big decisions in the other countries, I have not seen Ford progress in any form or fashion. They have actually gone downhill or backwards for at least the last five to ten years. Bill Ford is just part of the family. Farley??? Why is he still there? Maybe he is just Bill’s Best friend?????

Not for her, that's for sure.

The Walt Disney Company's President Dana Walden said on Thursday that the company's layoffs were "extremely painful" but necessary for its survival.

https://finance.yahoo.com/media-advertising/articles/disney-president-says-layoffs-extremely-094448360.html

It's as simple as that.

LFG has proven without a doubt that portfolio sales and engineering leadership has led to losing market share. With more portfolio AEs and SEs as a result of LFG, the numbers look worse than ever before. We have no specialists to call and come in to sell, demo, and design.

Changing IBM’s CEO alone will not fix its underlying product problem: customers need compelling reasons to choose—and keep paying for—its technology. Recent acquisition Hashicoprp Terraform faces OpenTofu, and IBM’s software must justify its additional cost against cloud-native alternatives. In my view, IBM Bob’s enterprise proposition pales beside Claude Code using Claude models through Amazon Bedrock, supplemented by Martin AI for easier token budgeting, prompt and plugin libraries, and usage leaderboards. That combination addresses both developer productivity and enterprise adoption; Bob must demonstrate a compelling advantage beyond access to models that IBM itself sources from providers such as Anthropic. A leadership change cannot substitute for differentiated products and clear customer value. The board should seriously explore selling IBM while its enterprise relationships and established assets still command substantial value, rather than asking shareholders to finance another turnaround promise.

What credentials does she have? Anyone who questions her is in fear of getting laid off or leaves out of frustration. The lack of accountability at Nike is infuriating which is why we are failing. Get rid of these toxic leaders who don’t value talented colleagues

They are paying new hires 6-7 dollars more per hour with zero electronics experience compared to current Honeywell techs that have been there 20-30 years . Sad new hires with zero electronics background are starting out a tech 4 pay. Terrible for morale and leadership is always demanding more revenue and they still need more revenue.

This is messed up if true.

Seems some of our tech leaders think "yes, soon." Thus will Truist fade.

How many VPs , SVPs, Heads of This or That do we have working at Dell currently? How many of them are actually doing something useful?

There are many in leadership who don't seem ready for the positions they're holding. Simple questions turn into long explanations, basic decisions get pushed around, and then everyone underneath them has to compensate. I don't understand how this became normal.

What the heck is wrong with this organization?

Always fxxkxxx around in the middle of decisions. Does not trust it own people and all the managers who are highly political, risk averse, functional only, second guessing decisions, and don't care about corporate value...

break up the company in few different segments and hire CEOs to run each segments with more independence and flexibility. And report to one big CEO who oversees them all.
VPs are managers without a lot authority and independence and that plans so far did not work so let's not be insane and try something revolutionary and different.

I was widely ridicule by many short sighted people in this platform.
Fast forward today and EH is basically trying to do same except that instead of splitting the company, he is trying to shrink in the hopes that it is more manageable.

Because when Nike was growing in its hey days, they just overgrew and now it is too big and unmanageable.

I think breaking into each manageable segment is better than shrinking small. Followed up by layoffs.

Heard senior leadership is fed up and RTO is moving to 8x5pm Mon-Fri at your assigned site. This allows management 100% visibility into arrival time and departure time. The policy will be simplified to 8x5x5 to ensure clarity

Oh god. Can we get a qualified leader who understands strategy, tech and has people skills!!!

IT needs a massive leadership change. We were glad Rama was gone but then Satya??????

Why do good IT leaders don't stay? Now we are loaded with just vendor managers and project managers.

What is the current status on the court proceedings? How are the current left over employees faring and their perception on where it is leading?