Love the bespoke approach to restructuring here. Other companies commit the rookie mistake of just naming a number and ripping off the Band-Aid—which accidentally stabilizes their stock price. Why settle for shareholder confidence when you can drag out the suspense and run a company-wide game of musical chairs instead?
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If you confuse yourself, then your enemies won't have any idea what you're doing
Layoff strategy is on par with our “growth” strategy
@aj VP colleague of mine in HQ Finance told me that the layoffs are primarily based on leaders saving their favorites, not much else. Can't speak on any other orgs though.
Comcast has always been intentional about its hiring and firing decisions. I want to say that it buffered us after the pandemic, when all the big tech companies laid off staff. But I guess it has finally caught up with us. The writing was on the wall, though, given the stock price.
NGL, I'm kinda impressed by this strategy, though; they've stayed tight-lipped. They've kept us guessing about the upcoming layoffs, with absolutely no email communication. They've kept us guessing and accepting rumors on this site. I mean, I could say anything on this site right now-“Why would I lie to you?” LOL ;)
This is what happens when you actively seek out people to lead the business based on factors other than merit and proven abilities.
Especially from outside companies
Rumor on here is that McKinsey is behind this layoff strategy. We should expect only the best strategies from the people that brought us HBO -> HBO Max -> Max -> HBO Max
I suspect this is intentional, but probably impossible to understand for simple minded normies like me. It seems like they are trying to simultaneously: 1) lower costs 2) accomplish some uber "fundamental" reorg and collapse reporting structures, the details of which need not be know to NPCs like me. I guess we will see how this plays out. I've been in the game since the 90s, and have never seen one quite like this.
The geniuses that made that decision are the same ones responsible for running the company into the ground