We went from occasional layoffs to constant layoffs so fast, most of us are still feeling whiplash. When will we get back to being able to relax between rounds and not worry 24/7 if this week will be the one where I lose my job?
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@ge This is the best most cogent post I’ve ever seen on here. Well done!
@ge totally agree with you on everything you wrote. This is not the end of the hard times. Jacob only came for putting us for sale. Don’t forget that. 3 year contract with huge bonus attached to it if the stock price reach a certain level and we get acquired. Save for Everett. And more probably.
It won’t change until;
ELT recognises that the China market is gone. Illumina is not going to make “billions” in that market whilst there is a trade/tariff war going on. The awkward, slow pivot to the Mid-East isn’t going to pay the same dividends. It’s just not. Be honest and realistic about the share price. The days of our price being in the $400 and above have gone and they are NEVER coming back.
ELT, changes direction and offers a roadmap out of this morass or they encourage/invite a buy out of Illumina. Need a unified, clear, decisive vision of what Illumina is and should be. Papering over the cracks with a new set of “values” is pointless, when those driving it don’t have any real commitment to them.
ELT needs to be reconstructed with talent. Not the clueless, out of touch corporate talking heads, who are solely focussed on na--d self interest. Additionally, it badly needs to rebuilt trust with the workforce, who for the past few years have had to pay for the largesses and egos of the previous ELT and are now paying for the current ones pandering to corporate greed.
Expect a faster race to the bottom. Which means more RIFs, benefits being reduced and/or removed. And more all hands, telling those who remain that we’re on an upwards trajectory, when observable reality suggest the opposite.
Just leave. It’s greener on the other side. There’s nothing to hold on for. They even brought in “the consultants” a few years ago. Game over for Illumina reputation and product prowess.
So... Never
When the company achieves the financial targets it promised to investors