Thread regarding Blackbaud Inc. layoffs

Will the ELT ever pay for their decisions?

I’m still pretty angry, honestly. Looking back on all the BS we’ve been expected to tolerate over the years, shame on me for believing accountability would ever exist at the top.

Remember the data breach? The ELT lied to investors, employees, and regulators. The company spent hundreds of millions in legal fees and hundreds of millions more trying to clean up the mess and get compliant. Did anyone at that level lose their job? Of course not. They still got their bonuses.

Then there was EverFi, a $750M acquisition that eventually turned into roughly a $400M write-down when it was sold off. Another catastrophic decision. Again, nobody in leadership paid any personal price for the failure.

Now we’re watching good people lose their jobs while roles get shifted to India, all while leadership positions themselves for one last payday if the company gets sold. They’ll walk away with tens of millions in compensation after years of bad decisions. The rest of us get 8 weeks severance and COBRA.

At some point you realize employees are just pawns in a game where leadership can fail upward indefinitely while everyone else absorbs the consequences.

Get out while you can.


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| 1 view | | 5 replies (last 12 days ago) | Reply
Post ID: @OP+1ks0xqjwr

5 replies (most recent on top)

sc-m company, I still remember when they froze raises and ki-led cash bonuses when I was an engineer.

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Post ID: @1p9+1ks0xqjwr

Unfortunately, the ELT and their golden parachutes will not see any real consequences. Even if they are fired, they likely have contracts which means they will be paid for some time after they're fired.

And even without that, they have made enough money to live several lives.

With the stock price this low, the chances of private equity buying BB seems high, but that wouldn't benefit most of us. The board and execs would likely get a payout for their stocks, and the private equity would continue to ramp up BBI and gutting all of our jobs to save a penny.

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Post ID: @k1+1ks0xqjwr

@am it’s a rubber stamped board,zero accountability.

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Post ID: @cz+1ks0xqjwr

I think the board can overlook pretty much all of that, but a 50% drop in stock price with no consequences seems crazy to me. I fu-k up a few deals and I’d be fired.

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Post ID: @an+1ks0xqjwr

And don't forget Mike's dui arrest a few years ago. I know everyone makes mistakes but I would think a CEO should be held to higher standards and ethics. Another bad decision without accountability. I don't have my h faith or respect for that type of leadership.

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Post ID: @am+1ks0xqjwr

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