Thread regarding NetApp layoffs

Layoffs are the only way to save the company

Downgraded by Morgan Stanley with a target price $10 below where it is now. The global financials which have driven the bottom line are sucking wind.

The only way to maintain bottom line revenue is to dramatically reduce expense and the fastest way to do that is to cut headcount.

Cloud revenue has stalled despite quota manipulation designed to keep anyone from earning commission.

As Tom Mendoza said once "we are all in sales" and that means if sales are slowing we are all at risk of losing our jobs.

Leave now before the Federal Reserve makes it impossible to find another job.

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| 3932 views | | 9 replies (last February 1, 2023) | Reply
Post ID: @OP+1kbOaVRZ

9 replies (most recent on top)

@5fff+1kbOaVRZ : Exactly, Cloud was a short term choice to shine for Big investors.
I left 4 years ago when it began, as I was not convinced at all, AWS, Azure, GCP can offer data services without NetApp and they will do it, while NetApp will bring its customer set to them and lose them eventually (not always for good reasons but when the infinite money permits you to "buy" customer).

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Post ID: @Nnvv+1kbOaVRZ

Not entirely true… Stock buybacks have been working for years…. And just last
March - NetApp announces additional $1B repurchase authorization…
Guess the real question is - what is the real state of business if there’s pending layoffs and 1B in buybacks still happening?

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Post ID: @Ifyk+1kbOaVRZ

All those A800s coming off 3 year plans have nothing to refresh to. With nothing meaningful released or announced, Pure is going to keep stealing our AFF marketshare because we're doing nothing to earn it.

Kurian is face down in the cloud coolaid and has poisoned most of the leadership team with that failed vision. It'll take replacing almost everyone from VP level up to fix this company now. Or one really brave exec to pull Georgie aside and explain that cloud isnt cost effective to anyone during a recession.

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Post ID: @5fff+1kbOaVRZ

Maybe if we weren't taking this losing Cloud strategy, we wouldn't be here. We're just letting Pure take our lunch money in the markets we used to dominate.

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Post ID: @2msx+1kbOaVRZ

If ur a coder and only know those baby high level languages like python Java script, competition is stiff. Embedded c, c++, maybe even suck s Perl jobs less competition . Either way.. learn those coding exercises .

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Post ID: @2rtr+1kbOaVRZ

Pretty worried about being impacted with the market as it is right now.

I think it's the worst time ever to be a non-senior individual in tech. The market is incredibly demanding for juniors. The competition is very high now for good jobs that also pay well. Sure you can find a job at some small shop for chump change but for those sweet high-paying jobs with great work-life balance, competition is huge.

There are other ways to save the company. Like taking a risk and trusting that good engineers will produce a novel product. But Kurian and his sycophantic goons will instead opt to remove good engineers and ax products that would bring NetApp long-term returns.

Sharpen the resumes and your interviewing skills folks. February 2023 is the due date.

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Post ID: @2sme+1kbOaVRZ

The wolf cries. The day is bad. The rabbit digs a ho-e. One sunny day it emerges. It’s not so bad today!

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Post ID: @1sib+1kbOaVRZ

Point well taken, but where do we go now? No one else is hiring! even if they are, its just too hard to find another job.

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Post ID: @stz+1kbOaVRZ

I wouldn't be surprised. That Global All Hands last week was pretty negative. As a newer hire this year, I was absolutely shocked by the all hands. It felt like joining a cult. Despite the negative information, the chat was all glowing about how much "energy" that George and fixating on the one or two bits of good news. If I saw this same information at any previous companies I've been with, I'd be expecting a layoff round coming.

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Post ID: @vrc+1kbOaVRZ

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