They are eliminating the poison pill which will allow a take over. I also think the consultants needling in everyones business and the layoff are window dressing to make the company a more attractive acquisition target. Obviously the highest bidder will end up carving out a pound of flesh and the cancerous legions will eventually be removed and QC will become a more competitive force. The whole process will be tremendously painful for shareholders and especially employees.
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these last 2 posts nailed it!!!!!!!
PJ is a rich kid from La Jolla who should have just stayed home and played video games while collecting his trust fund. Instead he had to prove himself by ruining a perfectly good fortune 500 company. As much as I like Irwin, I have to question his judgment for allowing this to happen. Surely he knew PJ could not cut it. And yes what an example PJ sets to the employees collecting an ungodly paycheck while having zero responsibility. I guess daddies billions were not enough..
The last interview with SM makes it clear the execs can not even agree which direction the company is heading in. Surely this will not have a happy ending. I expect major changes before the dust settles. I would not be surprised if the company is bought out and drastically downsized over the next few years. 15% is just the beginning.
The rot began as soon as Irwin handed over the reigns to his son rather than SJ who was far more deserving. That act of nepotism is whats biting us now. PJ cleverly handed over the reigns to mollen "cough" when he saw the tough times coming and retreated to deal with his messy divorce. So now everyone cursing murthy, Cristiano and steve when the one who appointed them in the first place gets away. Good example of how short sighted the world is.
Lead by example: hire someone under you to do the work. It all starts at the top: redundancy, no accountability, lack of understanding wtf really happens due to each level insulating and projecting pink upstream... Sad, hopeless, down, black,...
What about the board.. looks like both PJ and SM where appointed without much vetting, and with looking at other external candidates,.. Also whats the deal with PJ's position, looks like he just created a extra position for himself (and higher salary for himself), and gave up all the responsibility to SM..
IMHO, Paul ruined the culture, and thus the company. Steve is pivoting fast as he can to stem the bleeding. Not to say Stevio is blameless, who the f*** announces a 15% cut 2 months in advance and expects morale to do anything but crater?
Which HR ? Is it the one with big .....
Everybody should go, only me and that hot HR should stay alone.