If you've been keeping up and paying attention, you know what's coming. The earnings call made that clear. The only things we don't know are when and how bad it will be, but there's no doubt this CEO is planning to make his mark through major cuts. Everybody should be prepared for the worst.
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It's kinda hard to say - I've seen some really entrenched folks (ICs and managers) who honestly didn't do much and/or tried to claw tribal knowledge get laid off, and since then it's been a lot easier to collaborate with other teams. There's also a pretty big push to show ROI on initiatives, which means no more useless tools or rollouts, and we can focus on something useful for once. And with the real drive to provide value to customers with a plan by next shareholder call, we might be setting up for some useful growth rather than bloat.
Anybody who's honest here knows that we've had a lot of bloat for a long time throughout the org and have been blowing money on really really stupid cr-p.
I'm very cautiously optimistic. I just know Dan is actually leaving the board end of month (there was a SEC filing this week), which I'm totally fine with - dude always talked about moral imperatives while running a massive corporation that didn't care where it operated.
layoffs are coming very soon. apac will be heavily impacted... you can easily find this info if you do a bit of internal research
Hopefully he'll clean out what's left of that horrible AMEX crew, including Aaron and the rest of the overpaid do-nothings in NY that ruined the company in the first place.
Based off our financials (we’re spending less than 30% of our revenues on salary) another mass layoff baring a major recession is actually unlikely. Maybe small cuts here and there or even a sell of a product like what happened with Happy Returns. Right now the market is anticipating rate cuts in May or June which will more than likely push the stock price up (what we’ve seen the past few weeks) and consumer spending higher. So no I don’t expect another 7% cut again. Do your best at your current job, keep your options open and realize everything is cyclical.
Going lean doesn't necessarily mean laying off. It also means not spending frivolously high is something Dan and company really liked doing. There will always be layoffs occurring in a company of this size. It is unlikely there will be another mass layoff for awhile based on the timing between previous layoffs. Always keep your resume up to date. Focusing on it and worrying about it daily will do you no good.
Before the festive season or in the new year?
They don't announce layoffs unless they're legally required to.
When do we think these lay offs will be announced? I’m living on edge checking emails constantly
Where is there space to cut at this point after 4 rounds of layoffs? Every team I work with is down to a skeleton team and is backed up with work.
Not surprising, given the following information:
- Chriss comes from Intuit, a company renowned for not caring about people, since they have spent tens of millions lobbying to block easier and free tax filing for Americans. This makes me paranoid about the potential direction of the company.
- Chriss is getting paid nearly $50 million over the next three years in a combination of salary and stock. I can't even get a cost of living adjustment; some of us have gotten 0% raises even with great performance. This suggest a complete lack of concern about employees.
- The earnings call was heavily pointing out "going lean" and that next earnings call would have a sort of action plan. I definitely expect a lot of essential people getting cut without any thought to real impact to the company and other teams.
- Various leadership changes (internal info only?) that are definitely going to lead to re-orgs. This also includes a new CFO, who at least appears to be experienced with that kind of position.
- We already have higher than typical attrition levels.
So many teams are already down to skeleton crews, so it's hard to know exactly what will happen next, but based on Chriss's plan, we probably won't see anything until after the next earnings call.
It could also swing the other way and we end up just properly refocusing and stop stupid initiatives that don't do anything and don't have long-term internal support, we add more value for customers, and our stock goes up.