Layoffs of account leaders, sales VPs, area growth directors in the US, Asia, Europe, Dubai last week. Digital transformation lost 5 people. RMT lost strategic account team and heard more are coming at other business units next week. Inside sales gone. Proposal teams gone.
LLLP project sales team lost zero people!!!!! Have they ever won a project? Play golf all day and lose all our projects and stay employed. Work hard and produce and get laid off.
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Glad I left before the blood letting started.
Two Points within this thread:
Does anyone remember that Emerson could have bought Rockwell in a 2008 fire sale?
On the ridiculously redundant Pentair acquisition, does any one remember who really won when #1 Seagate purchased #3 Maxtor? #2 Western Digital actually increase their sales without spending a penny.
I've got to wonder who are the analyst and corporate teams that come up with some of this acquisition c-ap?
Seems like a house cleaning and purge of the "lifetimers" who are probably $150k to $250k (Base salary).
Need to post strong numbers in Q1 for DE Shaw.
Guy who wrote "boy band", great journalism there. And I totally agree, they arrogantly dismissed any possible way to turn that ship around over the last decade: "We've always done it this way"... then flailed around like tards trying to buy Rockwell Automation for some insane price as a last ditch Hail Mary when they realized they painted themselves into a corner... it's past the point of no return, full speed ahead.
Boy band? More like the OK Boomer band.
Nearly 3 years ago during a company update the Chairman said that we were going to "constipate a relationship" with Pentair after the acquisition. I thought he meant 'consummate' but apparently I was wrong. Constipation complete and time for some purging. The Chairman has begun purging with layoffs throughout the organization at the business unit and platform level after being pushed by DE Shaw for changes. It would have been obvious to a flying squirrel that changes needed to be made but no members of the Chairman's boy band had the cojones to push him, and if they did he obviously didn't listen until his back was against the wall. The good news is that the purge is taking place at the lower levels of the organization and the high corporate overhead is still in place....e.g. the much needed fleet of jets for the boy band to fly around and inspire the organization. As the Chairman nears retirement he will quickly bleed the organization to increase stock price before he retires and cashes in, then his selected boy band member will take the reigns of a depleted organization. DE Shaw will cash out and make a ton of money too. After under performing compared to peers in the industry the Chairman's final act has included losing his battle to DE Shaw and having to bend to their will. The real purge will be complete when the Chairman retires.
Please note that none of the boy band members will change anything once the Chairman is gone - he has hand picked a team of 'yes men' that has limited (if any) experience outside Emerson. And absolutely no women are in the band. Great work MR. Chairman on your performance over the years and focus on development throughout the organization...many others could have outperformed you in this role...just reference the performance of Emerson's peers....
LK? What about FDJ and SM?! They initiated this spiral 3 years ago. RM didn’t break RMT. That was LK and FDJ and SM. RM just became the proverbial scapegoat. They’re going to run out of scapegoats soon and start to turn on each other. That’s why they lost a group President (MB) and 2 VPs (JW and MKR). Grab a lifeboat, kids!
The only thing worse than being laid off may be staying. Corpses stink after a short time and this company culture is becoming fragrant mulch. Great technology and even greater people...except in the current generation of AS leadership. LK is a poser dictator with zero character, integrity or strategic vision. Nobody trusts him. Drives vision through last month’s POR. The house that Berra built is becoming a boarded up crack shack. It’s a tragedy because the strategy of the last 20 years propelled Emerson to a legitimate leader and in less than a year, its being sacrificed to prove executives know how to look tough. How was Monte Carlo a couple weeks ago?
Austin PSS 12/4 Layoffs
Information here is PSS had 47 yesterday. More today were walking out to the parking garage at 9 AM with boxes. Might not have completed yesterday it seems. AutoSol IT had at least 40 this week, but seem to be down to contractors and their fate next. Rumor is a $200mil budget cut that was mandated for stronger reporting in Q1. Closing Bloomington's office and moving people to Eden Prarie. Consolidation of Houston's buildings to 1. No information about BU teams as yet, but hear it might be coming in dribbles through the new year.
What’s the 5G Initiative?
Do you think this is down to the DE Shaw article and the 5G initiative
GP3 boys setup projects like The one with that South African company theat others took credit for...yes these peeps do win jobs. Layoffs hit all areas of the sales teams including those covering strategic account. Perhaps EMR’s message to customers is that they don’t believe their customers are strategic. I would suggest somebody look into the age, gender and race of those laid off. EMR just not a good place to be an old white man.
20 years here and never heard of LLLP project sales team. You must mean the charitable contributions we make every year in the form of allocations from our P&L for the group GP3 jokers. Someone sold Farr an empty potato chip bag with that deal. Friday is my last day I can’t stomach watching it anymore.