Absolutely 100 percent chance that Viasat lays off more employees to make shareholders happy. Daddy D said it himself, layoffs = bad management. Sounds like a promise to me in light of the current regime.
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WRONG
Grumblings about layoffs coming up again! Sure hope it dodges Ops this time…not likely. Word on street before June 360’s happen!
“A month ago they said no more RIFs”,
You believe that? lol gtfo
Last time I heard managers tell me the same bs….
Not once but twice…. Look what happen
A month ago they said no more RIFs.
Tomorrow is April,
Any updates from the grapevine?
“Keep in mind it won't be a "RIF" in the sense of announcing another round of layoffs. In order to not send the wrong signalling to the market, companies will do stealth layoffs…”
This is exactly what will happen…it’s a well-worn playbook for US companies that are struggling with shareholder jitters on analyst projections, lack of dividends and declining market value. It has certainly been the case in my last two large SV companies and they didn’t have the likes of Musk and Bezos poised to disrupt their entire business.
Definitely the right strategy to withdraw from residential broadband but I’m not sure a focus on global mobility will be sufficient to hold off Starlink & Kuiper as they will and are coming after these segments too e.g Qatar Airways announcing they will trial Starlink
Did they say/hint about the size of layoffs (number or percent of people)?
I am a L3 Leader. Can confirm there will be layoffs in March/April time frame. Guru has been having frequent workshops with L3 Leaders asking to begin the ranking process for employees L5 and below. Company will be continuing to move personnel around discreetly and quietly continue layoffs until company is "balanced" and "synergies do not have any continued overlap"
get a new job while the company is still semi-respectable on your resume...
$4B a year in revenue and they still can't make money. What a bunch of wa-kers.
The important thing is to convince Wall Street that they have a good future so all the execs can cash out their shares.
Or they just won't replace the people who find a better company to work for.
Keep in mind it won't be a "RIF" in the sense of announcing another round of layoffs. In order to not send the wrong signalling to the market, companies will do stealth layoffs where they get rid of enough heads to hit the analyst quarterly numbers. You know, 50 head here, 50 heads there. There will be a continuous draining of head reduction, but not as a large RIF.
Remember that on average, the same position/employee will received 2 to 3 times less in London than US. That makes easier to reach a bigger saving by cutting US staff + the laboral laws are more flexible. In the end the Geo business is in trouble and the company needs to pivot soon.
Guru is just not up to scratch but he cant be blamed for VS3 and Inmarsat satellite problems
Higher productivity + more work + same pay = having a job is your new pay raise. Way to go Viasat!
waste of my time listening to clowns
And it'll be mostly the Inmarsat staff probably. Once they get integrated after a few months, the idea we have redundancies again will resurface and RIF to keep that "positive cash flow" promise (it worked back in November!). This also gives them time on how to handle and get around the UK layoff laws to expedite the process.
His super power is to talk about change yet not change.