Wow!! I thought Rockwell was not making money hence the layoffs?
https://finance.yahoo.com/news/rockwell-automation-board-directors-approves-210000637.html
5 replies (most recent on top)
This is the same board that approved a $2.3b acquisition of a company that has $160m in revenue and provides MES software for discrete manufacturing. It doesn’t scale to other industries, it is old, inefficient cloud software, RA channel can’t sell it effectively and it was bought from a private equity firm. The only winner was the private equity firm. The board should be fired. Or an activist investor should step in after the institutional investors start to bail. Fire Blake. Fire the board and get to work restoring a strong brand with a great installed base.
We appear to continue laying off staff from the high cost regions (US, Canada etc.) and replacing with the folks from low cost regions (India). The pandemic proved out the roles that can be remote.
Blake is just a poor ceo and has gotten rid of all his management talent and replaced them with less capable people. He is the smartest guy in the room. Too bad he is a d-mb sales guy. Leave when you can. He needs to go. Not sure who takes over but they have a lot of work.
This is yet another slap in the face to employees after 2 years of no raises and the crumbs we get this year.
The company will continue with cost cutting thoughout q4 and q1 2025 to maintain EPS. Travel freeze along with hiring freeze. The FT employees andvcontractors are risk for operations and engineering.