#management

Anyone have any intel on when Houston Financial Crimes Investigations will be done? There are only a few of us here, and all of our managers are in a different location.

• Debt has ballooned to $27B -- more than $6B higher than at the end of 2025
• Cash from operations at a loss of $2.3B for the quarter
• Cash from operations ex working capital of $700MM
• Debt to cap of 48%! - this is a BB+ to B- rating (speculative credit) at S&P and implies a significant re-rate of PSX debt and increasing cost of capital

Yet management continue to claim a strong balance sheet.

$3B of cash tied up in working capital with no sources of cash to fund it = debt

The commercial organization is an anchor around the necks of PSX shareholders

PSX has increased volatility by increasing exposure from commercial trading activity and is is competing in shark infested waters. We don't have the stomach or the people to participate in this business. Everyone knows it and they are taking advantage of it.

On top of this, Midstream underperformed and increased capacity in a market that is swimming in capacity and putting downward pressure on renewal rates.

Corporate costs have also ballooned despite business transformation efforts.

Renewable fuels losses are accelerating again.

Yet the tone from management remains optimistic and they can't be honest with shareholders.

This management team must go. A CEO that is out of his depth and a CFO that has taken on increased risk at the expense of a once pristine balance sheet.

Devastating review by new young S&P analysts. Employers will now begin to review MoA as a going concern from a fiduciary standpoint. Rich has another 12 months to turn things around.

Mutual of America Life Insurance Co.
Ratings Lowered To 'A-' From 'A' On
Weakened Competitiveness; Outlook Stable

Mutual of America Life Insurance Co.'s competitiveness has been declining in recent
years, evidenced by volatile profitability and business and geographic concentrations
that constrain its ability to achieve performance consistent with similarly rated peers.

S&P Global Ratings therefore lowered the long-term issuer credit and financial strength
ratings on Mutual of America Life Insurance Co. (MoA) to 'A-' from 'A'

The outlook is stable, reflecting MoA's turnaround plan to drive revenue gains and
reduce expenses.

NEW YORK (S&P Global Ratings) April 27, 2026--S&P Global Ratings today lowered its

long-term issuer credit and financial strength ratings on Mutual of America to 'A-' from 'A'.
The outlook is stable. MoA's volatile, below-peer profitability and concentrated product and geographic profiles dent our view of its business risk. MoA has reported operating losses for the past three years,
with a loss of $27.6 million in 2025, compared to $149.6 million in 2024 and $223 million in
2023. The company had positive net income in 2025, of $2 million, for the second time in the
past five years, but in both cases this owed to one-time, unrealized gains from real estate salesand other Non-Interest Maintenance Reserve (IMR)realized gains from the investment portfolio.

We had anticipated that MoA’s cost-cutting initiatives would generate consistent profitability and returns commensurate with ‘A’-rated peers. While the new management team has taken significant actions, the company has yet to demonstrate sustained profitability Although MoA is pursuing numerous strategic initiatives to restore profitability, we anticipate it will take time

The last four years were tiring. I am tired boss. I feel the supervisory board made a lot of decisions to favor the CEO and executive board instead of customers and shareholders. And they joined forces with HR and the executive board to royally scr ew employees. Here are some of the questionable changes they made. All of this is public knowledge but I don't think there will be any consequences.

On November 7, 2024, the Supervisory Board resolved to replace the KPI operating margin increase with the KPI free cash flow for the Executive Board STI as of 2025.

On December 8, 2024, the Supervisory Board resolved to replace the KPIs cloud revenue and software licenses & support and services revenue with the KPI total revenue for the Executive Board LTI as of 2025.

On April 30, 2025, the Supervisory Board resolved to extend the term of Christian Klein’s appointment to the Executive Board from May 1, 2025, to April 30, 2030.

On May 5, 2024, the Supervisory Board resolved, by way of circular resolution, to extend the term of Christian Klein’s appointment for three years from May 1, 2025, to April 30, 2028, and to appoint him as chairperson of the Executive Board with immediate effect.

On May 6, 2025, the Supervisory Board decided to exchange the Women in Executive Roles KPI with the Business Health Culture Index in the LTI as of 2025, resulting in a temporary deviation from the compensation system and the German Corporate Governance Code to ensure compliance with executive orders in the United States.

At the beginning of 2026, the Supervisory Board decided to exclude the effect of the expenses related to the Teradata litigation from the Company’s non‑IFRS definition, as "these one‑off effects are not indicative of our operating performance". The Supervisory Board also decided on February 18, 2026 to exclude these effects from the target achievement for the KPI operating profit... The exclusion of current expenses of €387 million has a positive effect on the performance factor for the financial PSUs of 0.011 for the 2023 tranche under the LTI 2020. As the ongoing performance period is measured using cumulative results, the impact will be shown when the LTI tranches 2024 and 2025 are due for payout.

On July 27, 2023, the Supervisory Board decided to exclude the impact of the Qualtrics divestiture and resolved updated targets for the STI 2023 and the LTI tranches 2021, 2022, and 2023.

Furthermore, in September 2023, the Supervisory Board decided to exclude the expenses related to compliance matters from the variable Executive Board compensation for 2023 and 2024. The exclusion of expenses related to compliance matters from the variable Executive Board compensation led to a higher performance factor of 0.005 for the financial PSUs of the LTI tranche 2021 and 2022, a performance factor of 0.049 for the STI 2023, and had no effect on the performance factor of the STI 2024.

As I read this, it feels that the supervisory board goes above and beyond to help CK and the board to get as much money as possible from SAP bank accounts to their personal bank accounts. I wonder how René would be any different.

There are 50% chances that Dan might fail but there are 50% chances that he might succeed to transform..
I do see lots of negativity among Band 5 leaders.. overheard negative talk on the floor after All hands..
why can’t these middle layer leaders do not want to give it a fair chance ?
Looks like Dan made these ultra comfortable people uneasy and they are not liking it.

Most of the impact was at levels 40 and below. What exactly was the intent of the layoffs- reduce management layers, reduce friction between the teams by consolidating under same management, reduce the operating costs by targeting the high cost roles.

None nada, instead what we got was most of the impact on levels actually delivering output and working. But now we have teams with most people at senior manager, principal, director levels and no one to actually work on the deliverables.

Was the leadership smoking weed when deciding on impacted roles?

So mismanagement loses the Marriott account and immediately out come the travel cuts! I don't think we will T&E our way out of this poorly run company! Does stopping manager travel and meetings, training events, back filling roles send the right message? How about stripping Senior Leaders bonuses? Those bloated million dollars payouts for poor performance? And if you say we will lose them so be it there has not been a strategic decision made in over 5 years! Funny how we blow smoke up everyone's butts on Town Halls but behind the scenes we do this cr-p!

In the past few months, I’ve noticed a significant increase of emails being sent by employees to other departments for “assistance”.

They make no effort to elaborate on the issue or explain why they cannot handle the request themselves. It’s the classic dump & run, the “please read the full email chain and figure it out for me, thanks” variety. To make matters worse, they copy others to email to make it look like they are aggressively handling the issue, then I have them blowing up my email box for follow-ups.

I’m tired of the complete lack of respect for my time. Management couldn’t give a sh--e about it.

How wide spread of an issue is this?

I’ve decided to start ignoring these emails and hopefully send the silent message to stop the insanity.

I’m not your secretary, DO IT YOURSELF!

Are many of you like me that often have several drinks throughout the day, and are even buzzed often? The constant threat of layoffs, the incompetence of the offshore people and management. Drinking has been my coping mechanism. Mainly wondering if I'm alone in this?

Got laid off last week due to reorg at Gainwell — no notice, just same-day exit. Management changes, no budget, increased pressure on teams, and offshoring made the direction pretty clear in hindsight.

It’s a tough reminder of how quickly things can shift, especially with AI and evolving priorities reshaping the industry.

I'm not a complainer, I'm really not. But look around. Deadlines get missed constantly and nobody says anything. People used to help each other, now they hide from each other. And I've watched two different managers bend rules that I know are there for a reason. CDW isn't just struggling. It's losing what made it functional.

Two people on my team have developed serious stomach issues this year. Their doctors said it's stress related. Both of them! And yet nobody in management seems to care.

New title? New level?

Let them do their thing and eventually sold. Oh the Hubris of SBC Stanley, Stevenson, and their Minions.

I noticed a lot of irrational decisions when I first joined GN&T. We had directors and managers of engineering who had no engineering background whatsoever (no engineering degree and no hands-on experience). They, in turn, would promote people who lacked experience and were clearly unqualified. They would spend a lot of capital on projects with dubious benefits and predictably low return on investment and reject projects with obvious benefits and ROI, etc…

I thought this state of affairs couldn’t last and things would eventually follow a more rational path but I couldn’t have been more wrong so I volunteered to be laid off. Verizon can remain irrational longer than you can remain patient.

Regarding upcoming layoffs, please do not cut Service Fund workers but instead start with their “leaders.”

That is, start with laying off the Directors, Associate Directors, and Managers within Service Fund.

Not all, but the majority of them lost their effectiveness after the first six to seven years in those roles. Now, they are just faking it by fancy updates in form of verbal presentations, emails, and powerpoint slides. But beyond that, they are not really producing (i.e., adding or saving) the company any money. Not nearly to the same level as their employees.

Find out which Service Fund Directors, Associate Directors, and Managers are real genuine producers, keep them and get rid the non-producing leaders. Then consolidate so that more employees fall under a single leader, instead of the waste going on in Service Fund right now where only five or six employees report to one leader. It should instead be more like ten to fifteen employees.

Think of the savings to the company right there.

Human Resources: Do a little digging and research on just Service Fund and I don’t think it will be difficult to find out the abundant waste taking place in middle management in that department alone. Then, I would imagine when you move on to other departments, you will begin to see a trend.

Also some mgmt gone, so there's that. As someone pointed out, mixed bag this time.

BD Mebane has a very bad track record of hiring friends of HR and upper management along with management that can’t make decisions and push the blame on lower employees

That's this place in a nutshell.

Seven years of clients screaming at me over things I didn't control. Seven years of managers watching my screen. I walked out three weeks ago and I'm still exhausted.

Have a friend and former coworker that works in HR and was just assigned to a new project - from everything they've heard, Managers will begin receiving Inconsistently Meets (or worse) ratings if survey scores are down. Thy're trying to see where the boundary line should be, but its going to start close to small team leads and upward to Director. This incudes participation numbers AND overall engagement scores. Good news is that trending #s from prior surveys will be considered however i doubt that is going to help considering how messed up everything is around here!!!
Chainsaw cometh. we've been warned

I posted an honest review of this place six months ago. Detailed, factual, not emotional, no swearing, no insults, nothing. It lasted I think four days, if not less. I don't know how they do it, but Xerox management is definitely requesting some reviews be taken down.

After the layoffs rounds how the daily routine looks like especially regarding direct mngr? Do you still have as usual 1:1? Are the layoff questions brought up on th meetings or mgnrs behave like nothing happened?

Everyone is leaving in waves. You don’t have to plan anymore layoffs! 🤭

Word of advice to Chuck.. you want to treat your employee like numbers? Well your employees will treat this company like a number. We’re just here to do the bare minimum and collect a pay check. It’s ridiculous for anyone to even think about working overtime unless we’re not doing sh-t.

Honestly, mine and many others view of this company has soured over the years after witnessing the wrongful decisions management over the years. Cutting top talent and pausing retirement match?

Then you want your pawns to say it’s all part of us adapting into the future?? well, we’re all adapting to the future too by moving to better companies. You’ll be lucky with any talent at the end of this. Vistance is a failing company that continues to use artificial talent in India to replace top Silicon Valley talent.

Cheap out on employee pool, and your company will be cheap too. And to the investors, you all are stupid AF.

Ruckus and arris folks, continue to leave this place 👏 and one last think f you Chuck!

Part of me doesn’t want to do it but part of me wants to be totally honest. The bad part is the way the survey is written. The questions intentionally don’t get to the actual issues. So much of it is around you and your direct manager. I have a great direct manager who is also getting sc--wed over. I don’t want them blamed for the problems.

I wouldn't bet on it.

I think things are looking up at Fiserv.

Vishay is good. He understands core banking inside out. There should be a lot less chair shuffling as an earlier post suggested. Of course, that someone, the “she” who shuffles the chairs, is horrible to the health of Fiservants.

Outside of now being a toxic place to work, has anyone come across a mgr or VP that should be reported to HR?

For too long useless management employees have been su-kling the te-t of AT&T, fattening themselves off of the milk of other’s labor. Let the layoffs begin so we can maximize revenue per employee and become a market based culture where you have to compete for your position and earnings in the company.

How long they can keep the lies so sweet? Each quarter blame the same issue. Really? obviously anyone can use AI to tell the problem is the management. That Ken West baby should retire...

Some in management loved to play political games in the company. Like it was fun. Why? Business isn’t a game for those trying to earn a living.

Business continuity? The “Nike intelligence center”? Emergency management? Literally millions are being WASTED in payroll and opex with people getting paid to twiddle their thumbs, while people who actually do work are getting decimated.

When is finance team going to cleaned up with official span of controls in place. AVP reporting to AVPs, directors with 1 person team. Company wants to save money, but they cant save themselves.

Good managers will do their best to learn the job so they can be an asset to the team. Good managers will not push their direct reports off on someone else because they do not have the answer and do not care to learn along with the team.

I hope everyone is well, and GK and the Management Committee - if you see this, I hope you go to therapy and heal your ruthless souls.

So be a yes person and have no opinion of your own? Kiss your bosses a$$, shake your head up and down and get in line? Definitely not a culture or company that I want to be a part of anymore, regardless of what today brings.

When stock underperformance stretches over years, restructuring no longer feels like a reset and we employees are paying for strategic failure twice...

Dealing with a boss who lies

F5 started adopting forced resignations instead of layoffs. Recently did let go 22 members and no one is talking about it.

It's very hard to choose a person from your team.

How in the heck did you get over 1700 directs ??? How