Makes you wonder what's really going on behind the scenes.
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The amount of work that is siloed around here is unbelievable. No idea if my self or anyone I work will be impacted but if we survive but teams we rely on are cut, we're fu---d and will be less effective because everything is so siloed and tightened down.
It was all about the earnings call.
To Karen's credit she told employees first. Often times employees hear it in the news
Besides that 'heads up' it is the CEO playbook. Earnings down...need to bump....so you cut costs with no travel, cut consultants, cut a few people and and announce a reorg to make org more efficient.
Now she has to deliver...the hard part
Not really. They lowered expectations. So they needed something to keep investors from buying the stock.
This was to signal to the shareholders that she's cutting costs, so they go long on the stock because the dividend isn't at petroleum level.
Karen is already thinking about the next concert. She has to top John Legend.
They're already hiring for that possibility.
When layoffs hit like this, it is usually always about the quarterly earnings calls and putting on a show for the shareholders. This is no different.
Leads me to think if the stock price doesn't rebound, we could be doing this again next quarter
They were expecting a bump from the announcement followed by a very forward thinking call.
The bump lasted like a day not even a week.