Having to worry about layoffs 24/7? How did we get here? Who is responsible?
9 replies (most recent on top)
One more rate hike and long bonds will put more pressure on stock price leading to more layoffs. I hope I survive the first round and go in the second round Q1 2024 after collecting my bonus!
@1znl+1p4vgYbZ That line is just BS - information is only material if it will affect the stock price — big litigation, acquisitions, stock buy backs, leaked earnings info, etc. Do layoffs affect stock price? In some cases yes (positive or negative) and in some cases no. There was absolutely no requirement for them to announce it MONTHS in advance of the action that could possibly affect stock price - it was purely discretionary. No issue with announcing the closing of the offices - there was identification of which offices and timing. The layoff announcement was just a sadistic move to 1) temporarily bump up stock price; 2) get some to quit before layoff; and 3) IMHO I firmly believe it was just a power play. Would there be layoffs? Of course, because of the merger - everyone knew that would happen. But absolutely no reason to announce in July vs. early/mid September. In fact, they may have gotten a second little bump in September to quell the current stock price free fall. I will always believe that Walt was p*ssed, threw a tantrum and wanted the double whammy given the outcry after RTO announcement - "let them squirm for the next 3-6 months." The whole stupid "we were required to report a layoff that may happen in the future, the size, timing, location, of which is unknown except before year end, but oh yeah they'll still be more in Q1 2024." Just another emotionally based reactionary decision to announce it months in advance because the employees "made him mad." When can we get real adults in the room please??
CRM MDs promoted the word "disappointed" to the top of an anonymous word cloud session. Nigel explained the official EC line that the delay between announcing the layoffs and acting on them is mandated by financial reporting requirements. But I don't know if the crowd is buying it. Maybe more could have been done to avoid this really horrible situation.
If you do get laid off, no worries. Jobs are available https://lesschwab.wd1.myworkdayjobs.com/HQ
What me worry?
The spineless EC and upper management - they are clueless and they are the ones responsible for ALL the mismanagement - because god know none of the lower level people are allowed to make decisions - decision by concensus - which takes forever and nothing ever gets better
we are responsible for not having a challenger mindset and seeing through the clients eyes..
It never did
Don't worry. It will be much better in 2024, when Rama is running things.