Thread regarding ViaSat Inc. layoffs

In fiscal '24, executive officers were paid $11M in cash salary/bonus plus another $2.6M in other non-equity compensation.

In a challenging year of staff cuts to present positive free cash flow to the street, how many jobs could the exec team have saved by choosing to defer executive cash payments? (I know the answer, but do they?)

Have they not studied other companies who have done similar in order to preserve as much of their staff as possible?

Did they consider their credibility gap with continuing to collect suich cash while simultaneously embarking on three RIFs plus a fourth coming?

Do they expect anyone to take them seriously (e.g. work disruptively, owner's mindset, etcetera) while they profit through rain or shine?

by
| 911 views | | 8 replies (last August 9, 2024) | Reply
Post ID: @OP+1tR3kmkW

8 replies (most recent on top)

They could have just about closed the gap this quarter with the money they pay out in bonuses.

by
| | Reply
Post ID: @4mnk+1tR3kmkW

With his wealth he was in a position to set an example with the execs by deferring his cash compensation in this cash flow crunch. Setting the example that the company is more important than him or the execs.......but he didn't and lost his credibility.

by
| | Reply
Post ID: @2elz+1tR3kmkW

Viasat was founded in 1986. Dankbergs had almost 40 years to make the company a success. No company takes that long. If it’s not a success by now it never will be. It should have taken 10-15 years tops. Not still stumbling around like a zombie company for 40 years. The company is on hospice care now.

by
| | Reply
Post ID: @2gvq+1tR3kmkW

I don't begrudge MD his wealth. He created Viasat from zero. However he's lost his way. He's been wrong about everything about LEO and their disruption. it's costed the company and it's employees. His fault. Time to step aside, we deserve better leadership.

by
| | Reply
Post ID: @2rvw+1tR3kmkW

Imagine how much money Dank must have in the bank by now. Good to be him!

by
| | Reply
Post ID: @2vjk+1tR3kmkW

Let’s call it what it is - Disgusting!

by
| | Reply
Post ID: @1mzl+1tR3kmkW

When you have 10 or 20 million in the bank and making millions a year is there still a work ethic? Easy to convince yourself that you're SO good you only need to work 6 hours a day.

by
| | Reply
Post ID: @1fbn+1tR3kmkW

At least one of the execs on that list was surfing LinkedIn and posting a long comment about tennis around 10 AM today (Monday, a working day). So they obviously care a lot.

by
| | Reply
Post ID: @1uee+1tR3kmkW

Post a reply

: