Am I the only one getting nervous over the fact that we're still without layoffs? It's starting to feel like the calm before the storm - and the kind of storm that will be remembered for a long while. I hope I'm just being paranoid.
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@1a3
"tbf there are a lot of vmware ppl who are way overpaid and do nothing"
i think you posted on the wrong thread.... most of them are still employed at broadcom making $$$$$
@19h I believe this 100%. I am one of those employees who is probably on a list and I hope they offer me something soon to leave. I would consider it payment for peace of mind. There is nothing going on here. Unfortunately if current leaders are being asked to set these lists, they are going to keep their most useless friends and colleagues.
tbf there are a lot of vmware ppl who are way overpaid and do nothing
Behind the scene, the KKR lawyers and the "potential buyer's" lawyers are looking at discussing the vast majority of the employees at Omnissa who are considered to be a "liability" due to the fact that they were hired during VMware days with higher salaries and are fatigued. The deal that is on the table includes having Omnissa reduce this number to a certain threshold before a deal is to be had. This is why they are doing all that they are doing to push people out without having to pay them for a package. The company revenue started declining when Broadcom came along and has since been declining fast... why have they not done anything until now. This sudden push to get the things on track has nothing to do with our decline and everything to do with the upcoming sale or merger that is around the corner.
Has anyone clocked that they hired in a new VP of Talent Acquisition? For a company that isn't growing, what would be her mandate?
KKR has only one playbook, cut headcount to improve profitability. It's predictable.
Simple formula: there are revenue and ebidta expectations in the plan for the year.
If revenue falls short, cutting cost is the only way to preserve ebidta margin.
How much cost to cut is a function of q1 q2 revenue numbers and expected bookings/revenue in q3/q4.
@OP Most of us sense large changes will be announced in August
It happened last year at the beginning of August, the start of a new fiscal quarter and half.
Cuts aren’t needed. People keep leaving on their own. Look at how many job openings there are. It’s not because of growth, it’s because they can’t keep people and half of the people that leave don’t get backfilled.
#DumpsterFire
KKR has one solution to our ongoing profitability decline. More cuts are inevitable.
I wouldn’t get nervous until after the next Horizon release goes out. That was last summer’s pattern.