So Alex is the one getting laid off. When will the rest of his cronies be gone so 🤔
23 replies (most recent on top)
When is the AIP bonus supposed to be paid out? It could be my timeline to go!
Is SK staying?
Apparently the new ceo just absolutely loooooves layoffs
@e7 in Jamie's email yesterday morning, she said AIP bonus is 98%.
@e4 could it honestly get any worse
AIP bonus is going to be hit badly
@ds this is what I am wondering too
What makes them think he can turn around paypal when he couldn't do it for hp. Maybe they couldn't get anyone else worthwhile who wanted to take over a sinking ship.
Lores actually sounds worse than Chriss. Wtf is this board thinking. We're all f**ked
As an HP employee I am shocked any company would hire Lores. If change was not happening fast enough at PayPal, he is not the answer. I feel bad for the people at Paypal.
Obviously, the whole ‘shocking the world’ moment never happened. Hopefully a few more senior leaders will follow him out… there’s absolutely no excitement about the newly announced CEO either… And someone was complaining about Dan... honestly, I’d take him over this whole crowd that clearly doesn’t care at all.
@b3 Archie Deskus also came from HP, and she orchestrated the mass layoffs a couple of years ago where IT was replaced by Tata. Oh boy PayPal is in for a wild ride.
I work at HP. We are celebrating Enrique’s departure. He ruined this company and will likely to do the same to PayPal.
@ay I'd argue the board never should have hired him, and they're ultimately to blame for what's happened to PayPal. They should all be replaced. Not that it's possible; y'all should really read the full proxy statement for shareholders. You have no rights and you definitely have no sway. I strongly recommend always dumping pypl.
Chriss was some random id--t from Intuit, a notoriously anti-consumer company. And this guy was picked to follow Dan? Dan wasn't perfect, but he genuinely seemed to care about employees. You cannot build an innovative company without fostering and maintaining talent, and Chriss just wanted to cut everyone and replace them with AI...somehow.
A little too late. The board should have taken this decision at least a year ago. He made multiple mistakes, one after the other. It feels like the board had to do this becuase of investors. Not the other way around.
However, bringing in super high paying execs in the 10s not only did our numbers no good, but also built a culture which was just not PayPal.
Also, cutting some fluff at the top VP+ would do good.
@aw agreed - the stock awards will be down at these levels and potentially have some recovery to go. It did do 58-78 last year at one point
@aa I appreciate the concern, but for some of us, it was absolutely the best thing to happen for us. Some of us got good severance packages and moved on to better roles that also paid better.
Unfortunately, that didn't happen for everyone. I've seen too many struggle to find work at all. PayPal gutted a lot of talent from the company when the problems were all within leadership positions (I'm including lower to middle management in that). The issue was never with the people who did the work.
Oh well, maybe this is a good time to buy some pypl?
If you think it's going to get better you are wrong, it's about to get a lot worse and fast, they are going to squeeze every last bit of soul we have left
And so the great layoffs begin
The storm is coming
stocks 19% down straight
Can’t wait to see what company is d-mb enough to hire him next after what he did to PayPal.
From "shock the world" to sinking ship... Enjoy your time off!
I feel sorry for all previous employees who have been laid off because of him. It probably wouldn't have happened that way under a different, more capable CEO.
@OP It’s about time! He was destroying this company and everyone’s morale.