We’re bleeding cash but we’re still hiring and promoting. We have almost 200 requisitions open and anointed at least 4 people into middle management positions.
You would think the BID and EMT would impose a hiring freeze to show Elliott that they’re taking them seriously. But instead they tell Elliott F you, we’re going to operate BAU.
How do we think things will end in 2023? Do you think Elliott is content with Jay gone or do you think there is more to come?
I don't think anybody is denying that layoffs are coming. I think the bigger question is why would we still be hiring and promoting when we darn well know that layoffs are coming? On top of that, the optics are bad when our CFO says that he doesn't agree with Elliott and we just keep on as if nothing is wrong with our finances.
Is poking the bear really a smart thing to do right now? If not, when will the new CEO put the brakes on the madness, if ever?
Exactly. Many more layoffs to come. So many people at SP came right out of college or high school and believe there is no world beyond Crown. They believe they dodged the bullet since SP is no longer relocating. They think things are back to normal . They don’t see the tsunami coming.
You need every penny of revenue to get a decent deal for fiber. You need everyone to keep working hard. So keep pretending everything is great while you shop it around. Then the bloated staff is the other guys problem. Like having a credit card you don’t have to pay back.
Elliot wants fiber offloaded period. They don't give a cr-p about hiring. The only way mgmt is ever going to make it work is to bring in outside experience in all mgmt in all Depts - especially SP. Finance , Sales, Accounting, property, Real Estate and Project mgmt.
Anyone who doesn’t believe more changes and layoffs are coming over the next few months is deluding themselves.