Is the Stock ever going to rebound, or are the powers that be trying to let it sink so low that another competitor will come in & buy at a discounted price?
3 replies (most recent on top)
Get rid of corporate jets
@r4 Agree with Simba’s comment! There is no need for the inflated cadre of executives in HR.
Maybe have one director level employee manage HR function.
This person (and maybe 2-3 direct reports) could:
- publish the employee surveys (also known as employee engagement)
- Post photos on LinkedIn about “team workshops” and state how great it is actually meet in a room and feel inspired and deliver results for the customer (drop in some words on how the workshop spoke about AI and its use cases in HR)
- and generate dashboards (AI can do that for you now).
- Payroll is not an issue as that is an automated process.
- Cut 1-2% of workforce each quarter (randomly pick names). Do assign a code name for the workforce reduction project (makes it sound important and shows management that HR is adding value).
- Keep talking about “data” and how all your actions are based on “data”. No one really asks where the data came from.
- No need to worry about employee culture/wellness as those are not current priorities.
The company needs to reduce its overhead expenses in areas that add little value.
A simple first step would be to eliminate all executive roles in the HR function. That would result in around $25 million to $30 million in instant cost savings on an annualized basis.
Then follow this up with halving executive roles in the Corporate Headquarters. That would be another $25 to $30 million
In total, the company can save at least $50 million in cost with zero negative impact to its profits performance.