Thread regarding NetApp layoffs

It's not about hatred. It's about being respected for the talent and skills you bring to the table and also about providing for your family and yourself. Check your toxic attitude at the door please...

Thats 65Billion Hong Kong Dollars. Convert it to USD and its 8 Billion.

not sure of the exact relationship between the OTC Lenovo Group stock and the Lenovo Group stock on the Hong Kong exchange but the latter has a market cap of ~$65b and revenue of ~$51b in their last fiscal year

I left NetApp 2 months ago, I did feel this website is too full of haters, but yes it was for sure a less nice place to work recent years. The work was getting increasingly hard and while I was earning on shares, sales, it was water off a duck's back but as soon they stopped paying me more, I left.

Another layoff has hit. When will this madness end?

It’s a joke inside NetApp.

Or several...

Thank you for the sensibility @previous poster regarding market cap and free cash.

The only way something like a "sale to lenovo" would make sense is if a business unit were being ejected.

Lenovo to buy NetApp? Unlikely. Lenovo market cap is ~8 billion and NetApp market cap is ~13 billion. Lenovo is trading on the OTC (pink sheets) and is a Chinese headquartered company. Lenovo cash on hand is 2.8 billion. NetApp cash on hand is 3.5 billion. If anybody were to buy NetApp it would have to be the size of Cisco (33B cash), Apple (225B cash) or IBM (46B cash).

I heard a few employees out of Sunnyvale today stating that we are being acquired by Lenovo. Anyone confirm?

Yes. I understand that is the strategy to sell off real estate and hire employees that have been out of college less than 3 years. Capping pay outs in q4 to top performers. Trying to hire former employees at much lower salary. They keep the numbers up for Wall Street. It’s been going on for a year or two.

There’s many existing employees in here too. I’m one and very vocal. What’s in the media simply isn’t true. People are resigning vs getting laid off. People are existing as a mass exodus. Yes, we are hiring, but mainly talent fresh out of college. For obvious reasons. It’s all about the money. Screw the employees.

Seems everyone is correct. More people leaving. Big names. (Toilet Flush Sound)

So NetApp gains top billing in a market that everyone is fleeing? This is like finishing first in a race where you are the only competitor. Proprietary hardware based solutions are disappearing like the ice caps. Congratulations on being the last dinosaur.

Agree with the other post. This is lagging two years. NetApp is not the company they claim to be. It’s a giant sh– show and anyone working for them knows it. NetApp is toxic.

The entire executive suite is defunct. Resigning 2-3 a week due to a toxic C-Level staff meeting that degenerated into a screaming match. The culture has gone totally toxic... Mendoza was forced out... Hitz pushed into retirement... so what exactly are you celebrating? Gartner is a 1-2 year lagging metric... Yes the people from 1-2 years ago busted their asses from your post, doesn't sound like you were one of them. The people of NetApp have earned better leadership than they are getting. They need to Transform the leadership, not the people that earned that MQ.

Excellent post. There are a handful of NetApp trolls on this board that are bashing the company because of sour grapes and/or they work for a competitor. Thanks for keeping it real.

HA! The spectacularly silly gartner magic quadrant. Let me know when that starts transitioning into revenue gains for you.

While the product does still have some merit, it doesn't change the fact that the company on the whole is poorly managed.

I've worked for a number of companies with great engineers and excellent products that were destroyed by bad management decissions.

You'll find out. Give it time.