Predictions from mid-July revisited

this person was pretty much spot on:

https://www.thelayoff.com/t/1kxe5swhw

Q2 sales will lack both plan and the latest exec forecasts. Substantially. SVP of sales and several Director / Sr. Directors in sales will finally be fired in August. Not for missing the target, but for missing their own forecasts now several quarters in a row.

Q2 sales didn't not meet forecasts or plan. SVP of sales fired.

ARR in the current quarter will shrink vs end of previous quarter (for the first time). That will be the catalyst for the bigger changes:

That did happen (almost). Didn't quite shrinnk, but was flat within Q2 and YTD

CEO still believes that "product is fine, everything else is the problem". He'll be fired, too. Timing just depends on interim and long-term succession plan. Nobody will miss him as he's been over-promising on outside investment / recapitalization / acquisition and under-delivering.

That happened today.

#CEO #Fired #Acquisition #MissedTarget #Forecast

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13 replies (most recent on top)

A real (qualified) replacement CEO needs to clean house, just like what happened at Citrix. The PE owner replaced the whole leadership team. In addition to VPs, many of the senior directors were replaced. Lazy people hang around for 10-15 years waiting for retirement.

kn for ceo?

@f8 To a certain degree... Certainly leadership down to the Director level is going to be heavily scrutinized, especially if new CEO brings in their own people, which they probably will... Expect a lot of upheaval for sure

where renu and sunny and barath and rest of the indians in slt? all family friendz and now there connection is gone

maybe new person will come as new C and also hire his cousins nieces nephews like kn did - what a joke - all a joke

@f7 agree with that assessment 100%. The next three to six months every employee will have to justify their existence or they will be gone.

The next CEO will probably be an outsider with experience working for PE firms on "right-sizing" companies to profitability. They won't be about gaining market share, adding the newest wizbang feature that saves some admin 5 minutes a week, or building the best culture for employees. He/she will be about cutting costs any way possible. Assume BIG layoffs, as the last CEO was reluctant to do so. Think someone similar to Tom Krause at Cloud Software Group. The politically correct terminology is Investor-Minded CEO, but Ax Man is still accurate.

barath is will be next C

No. He isnt qualified and the board knows it

@dx another product person as CEO = another disaster

@a5 it’ll be left up to the next CEO. Might not take long.

@OP if you know anything about PE, you already knew all of this. None of this is that thoughtful or surprising.

@a5 can you get a 5yo to retype this please.

yes, CEO is out

if u r surprized, u r a imbecile

u r not genius for stating obvious tings on dis site - we all known he will be out

best ting is kn is gone but when will kh and kb be gone those are next people

I mean this is what happens when you offshore everything. horizon and airwatch were made in america. sad to see the decline based on its new makeup.

Thread regarding Omnissa layoffs

Predictions from mid-July revisited

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