Anyone notice that there were no financial updates/status at the all-hands meeting? They didn't even tell what the ICP percentage was running at. I see a big red flag waving right in my face! The only reason that you hide news is because it's BAD NEWS! Nobody hides the good news... Hmmm, does that mean ICP is running in the 30% range or something?
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It's in the form of a video... You should watch it... Saves time at all hands. Helps to pay attention :)
You guys are free to have your opinion and I respect that .. blaming the new management and expecting a miracle from them without actually waiting for the turn around story to complete is a bit premature..
You talk about number OEM business costed us almost 20-25% of our revenues 3 years ago now we have made that deficit up with existing products .. you are comparing revenues again past netapp revenues but I say compare it with industry growth and you will see the positive thing which the market seems to recognize and it's just about cost cutting..
And for those who "assume " NetApp doesn't innovate .. you don't have to wait long.. just wait for the announcements on the 25th anniversary of netapp being founded..
You guys seem to have lesser hope than NetApp customers who have stuck with it and are now getting the dividends for their trust ..
I am not disrespecting those who left .. they were great folks ..all I am saying is not to be bitter and trust the turnaround story .. it's your prerogative.. let's visit this thread a year from now and see where we stand ..
100% ICP on a long-term trend of falling revenue...? Never happened before. Sounds like some cooking of the books to make those still around think all is well. The fact is that top talent is leaving voluntarily because they don't like what they see and are taking control of their futures. Good for them! Georgie boy hadn't counted on that and now he's trying to hang a nice carrot in front of those still around so more don't bail out of the flaming airplane.
@5xuu I don't think it's funny I feel that way - it's called compassion and introspection. Just sharing my thoughts about how I feel. It's unfortunate for you that you only see the numbers or think that the world is a cruel and harsh place, therefore behave that way. How can you call it being a "realist" and not consider the human element? While technically, yes, ICP is funded by sales numbers, what is the purpose of layoffs? It's to recover runaway expenses, salaries, etc. Maybe you imagine that in corporate accounting they have little envelopes where they take a portion of the sales money and save it until ICP time? You can believe whatever you want about ICP being 100% funded even though sales numbers are down year over year. Where does the spike in our stock price come from? From the friends we see walking out the door with their careers and belongings in boxes. Sorry - that's a fact. You can look at any of the stock charting (since the layoffs have become a biannual event) and see that stock rises correspond to layoffs. IMHO, it's about business ethics and respect for people. It's understanding in a bigger picture sense that people traded their time for money and found value in what they were building and doing. Building things they were proud of.
And comparing NetApp to Apple must be your idea of a joke. They actually innovate while we keep frankensteining parts and pieces of acquisitions together that don't cohesively work or change our place in the market. Apple had Steve Jobs who had the vision as a founder of what the company should have been and steered them back to it upon his return. GK is a smart guy, however having Dave Hitz reawakened from his cryogenic sleep to talk to the troops and drop a couple of f-bombs isn't really changing the current morale or attitude of laying low. GK needs to recognize that we severely missed the boat and are becoming more and more irrelevant. The SolidFire acquisition isn't going to change that - it's a band-aid to a knife wound.
It's funny you feel that way .. you will be paid "ICP" in future only if NetApp sells enough products and services in next two quarters .. your ICP is not based on savings via layoffs .. I understand your emotions and respect them however I would like you to have a "realist " mindset and not get carried away by emotions ...
Here's a pointer when Steve jobs returned to Apple and shutdown 25+ product lines in late 90's everyone cursed him and assumed Apple was doomed .. those who got impacted didn't understand why .. and those who weren't impacted weren't sure of the future ... the rest as we know is history.. cheer up .. stay positive.. respect those who have left us .. yet stay positive about future .
It's unfortunate that the money I'll be getting for ICP this year will be the result of many of my friends losing their jobs and the money we (as a company) reclaim because of their absence. It feels like bloodmoney that I'm getting to continue being a good little sheep while their families might have medical conditions or be strained financially. It's not right. I know I hear it repeated here, quite often, that "hey that's business" or "be happy you survived" - yeah I get it. I still have a job and for that I should be thankful, but at the cost of what? of who? it feels wrong. I guess there isn't room for those pesky "feelings" of loyalty and honor when you run a company.
By the way just to reduce your damn unnecessary anxiety the ICP is at 100%... there is enough bad atmosphere around and people like you tend to fan unnecessary panic without looking at facts which are available to all
It's funny to tell this here .. pay attention to corporate communication Ron had released the financials video a few weeks back and its available on intranet.. it was specifically mentioned that since all hands was delayed they are releasing a video thus time