There are 499 others who got the ax for no good reason.
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I got laid off. I was there for barely 6 months lol which is crazier. I would have rather just not have gotten hired and explored the other options I had at the time.
The CEO is likely to sell Actimize soon. If you're there, I'd get out now.
Does this sound familiar? You're an Actimize middle manager. You do solid work but you aren't particularly connected with inner circle politics. Inner circle = folks with 10yr+ tenure or smooth speaking manipulators the tenured deem as client charmers. You notice feedback getting increasingly vague. "Not enough value". "Be more strategic". Congrats! You're on your way out to improve the EBITDA number ahead of the Actimize sale.
The best part , they won't pay severance because you'll be cut for "performance". Ask for the legal basis for their decision when you're in the 3 minute meeting where you're getting axed after your years of service and watch them show you their true colors. You might even consider telling them this smells of constructive dismissal although, as Warren Buffet says, you can't beat toxic people at games they've been perfecting over a lifetime.
MBA students should study what went on here. One only needs to review some quarterly results to notice the pattern - top line revenues "increase", while profitability decreases. They're using share buybacks because they can't (read: won't) innovate as that would require the Sales team to learn new stuff and that's... like... hard and not instantly gratifying to my wallet... Booo! ... lying about vaporware is fun and easy quick money... Yayyy! It sure looks a lot like Sales and Exec teams paying themselves more and more while not investing in true innovation and efficient operations. The mafioso running this place love making someone out to be a su---r, and in this case... it's you and the shareholders.
Then they brag about 3rd quarter earnings
Im sure this is just the first wave.
Sorry to hear you were affected. What org were you a part of? What was the severance?
I am nervous to make it through tomorrow.