#leadership

This is a surprise. I wonder what will happen to Finance. I heard a lot of NYC jobs are going to lower cost locations.

https://finance.yahoo.com/news/citi-cfo-mason-to-step-down-after-ceo-frasers-power-consolidation-135104516.html

Although it’s not fully cleaned up yet, it’s good to see a much-needed trim of the older friends and family brought in from the ‘fuel’ era. Hopefully the next rounds address the rest of the dead weight who managed to stay by simply playing politics. Keep up the great work, Mr. New CEO.

SAP, founded in June 1972, when Dietmar, Klaus, Hans-Werner, Claus and Hasso departed IBM when they were told the software they had all been working on was no longer needed and so they started their own company - SAP.

We all need to pay  highest recognition for what these individuals achieved and the great company that was created.

But the time has come  for the remaining two founders and specifically Hasso to completely step away from the management, operation, executive selection, strategy, etc.... and allow new leadership take over SAP,  Times have changed from what they were in 1972 and so must SAP also evolve - which as long as the legacy founders are running the company and selecting the C-Level executives we will be stuck in the past.

Yes, Hasso removed Punit Renjen ( even before he officially took over as Supervisory Board Chairmen), but why did he do this.  Because Renjen was prepared to make significant changes ( whatever they may have been?)  and Hasso was not supportive.

And then what did he do?  He installed another puppet who was a protege of Hasso  and on SAP Board since 2002 - Pekka Ala-Pietila.  The issue is not who are the individuals in C level positions BUT rather WHO is putting them in such positions. 
This type of oversight and control is  simply what IS NOT NEEDED AT THIS TIME.

Look, the issue driving our latest survey results down to 59% when measuring confidence in the Board, is the Board itself  !     And CK, Asam,etc.. are all in Clevel positions for one reason = Hasso.   Until we get  leadership who is responsible for selecting the best and most talented key people AND holds them accountable, we will not see any improvement.

Yes, all congrats go to the founders of SAP for what they achieved, but the time has come for them to move on and allow new talent  that has domain experience and is capable of running a company the size and breadth of SAP.  We no longer can afford to just have hand picked people by Hasso who really have no outside C Level experience running the company - or we will all  be on the outside looking in.  Yes, the time has come and the time is now.

Please get your s#it together, because it is very clear and apparent that there is mass chaos going on in the c level and a couple levels below. Why would you announce broad and vague massive organizational changes yet provide zero clarity at the point in time the announcements come. Announcements that specifically call out teams/roles/jobs and not communicate the what baffles my mind as we come to the holiday season. Please go back to business school and re-take management 101 or read a simple book on organizational leadership. Thank you and have a very happy thanksgiving while the rest of us fear for our jobs.

Title says it all.

https://www.cvshealth.com/news/company-news/cvs-health-names-david-joyner-chair-of-the-board-of-directors.html#:~:text=WOONSOCKET%2C%20RI%20(November%2020%2C,%2C%20effective%20January%201%2C%202026.

So now David Joyner will be president, CEO, and chairman of the board. One guy in charge of everything, making all the decisions. I don’t know if that’s good or bad, but CVS is now going “all-in” on Mr. Joyner.

The outcome of this situation is truly shameful. In retail, we were pushed relentlessly to drive the leaderboard, only to find out that leaderboard performance had no bearing on job security. It is baffling that stores, SDs, Directors, store leaders, and sales reps consistently at the lower end of performance rankings throughout the year remain employed.

In the Atlantic South market, we were subjected to endless calls and passive-aggressive behavior from leadership. NONE of that pressure mattered. The market president was the worst of them all. Her and her cronies would talk out both sides of their mouth and leave it up to everyone to decipher what they meant all while screaming how important integrity is. The leaders would go on and on about performance but if performance mattered, we’d have a different market president.

The customers are DISCONNECTING because the leadership at the top is DISCONNECTED to what drives true customer loyalty and satisfaction. In the end, our individual contributions and struggles were irrelevant; we are merely casualties in the company's efforts to manipulate the stock price. Happy Holidays to everyone and I wish you all the very best. We deserved better.

One things PK is doing right!

https://www.oregonlive.com/politics/2025/11/nike-co-founder-phil-knight-makes-record-setting-donation-to-help-elect-republicans.html

#WFC - Now that I have moved to a new company, I am happy to post this. I have never seen a more unprofessional, outdated operating model. The absolute truth is Wells Fargo Bank is a true cesspool from the top, down to the recycled mid-managers and their lies, abuses, yearly Job Title changes, Loopholes exploited, and the Misclassification of offshore h1b(job titles, and USA workers job titles and so called “officer roles”.

The same is will continue theough 2026. So glad I am gone, I was embarrassed to work here at this point. Having WFC is equivalent to having a Schart stain on your resume.

Now, with the new unethical(loophole) mandate raising the salary thresholds, many companies are quietly rebranding jobs to dodge overtime rules. Titles like “analyst,”, “specialist,” or “associate manager/Associate Specialist 4 - Vice President” are being handed out without changing THE ACTUAL WORK. It’s just another loophole being exploited: the company narrative makes it look like you’re exempt, while your day-to-day duties tell a different story.

The law is clear, titles don’t matter. What matters is what you actually do. If your role is routine, closely supervised, or production-based, you’re likely non-exempt no matter what’s printed on your badge. But the timing of sudden title changes around this mandate is a red flag: it may be an attempt to fit workers into exemption boxes that don’t really apply.

For employees, this isn’t just semantics. Misclassification means unpaid overtime, longer weeks for flat pay, and missed income you’ve already earned. If your “promotion” didn’t come with real authority, like hiring, firing, or decision-making power you may have just been reclassified on paper.

Keep an eye on how your job was described and the in-office expectations listed on the JD before the so-called rto rule change, what your duties actually are, and whether the company is leaning on titles as a shield. Misclassification isn’t an accident; it’s a tactic. And it’s one that costs workers the most. This, coincided with non-stop hiring of riskyH1b’s hiring, offshore contractors, etc clearly show Wells Fargo does not support American jobs, nor so they support America’s communities.

Doesn’t anyone think that it is a problem for one man a.k.a. CEO to make 30 million just to reduce headcount aka lay off American jobs and fill with offshore employees(very risky). Meanwhile, there are school-bus drivers out there making $50,000 a year and taking kids(priceless to many) to school and make millions leas yet have more accountability than someone making $30+ million dollars. Something is wrong here.

WAKE UP People. We have the power to make changes. Just document everything!

Layoffs will also continue until the end of the year. And start back up again in 2026. Everything else communicated is just smoke and mirrors. Stack rankings, ratings calibrations, favoritism, sham ghost jobs run rampant here.

When will the regulators wake up to this habitual offender of a bank. Clawbacks are coming for the Schart when they can’t hide the mess he made anymore.

An inbred, crooked, hillbilly run monopoly that was never equipped to compete in the modern telecommunications economy. Big Ed, with his ginormous golden parachute passing the baton to his simpleton son in law, Randall, who effs it all up and passes the baton to an incompetent flunky named Stankey. Who in their right mind would think that what was AT&T could possibly succeed?

Back in the day Lowell ran the company with integrity. Back in the day Lowell said you could not be promoted to management within your market. The purpose of this was to evade the markets from becoming a good ole boys club. Since Lowell's retirement, Verizon has, in fact, become a good ole boys club. Maybe this reorg will fix that. Or maybe, we are in the death throws of a dying company.........

Is it truly as simple as our great leader DW makes it seem? Fire people as often as possible and the sky is the limit? After 10+ years in upstream chasing npv+ opportunities the downstream model exemplified by our most fearless and brilliant executive seems much more straight forward

They are not kind individuals. Simply observe the town hall meeting that SM conducted last week. She treated each of her reports as if they were children, or even more aptly, as though she were the almighty. Mocking every one as if she were all-powerful. Behind closed doors, she is as unpleasant as they come. She must have learned it from her direct superior. Drain the swamp!

I cannot believe Verizon is believing what this guy is saying. And I had enough of his outfit. He is trying to dress up like Steve Jobs but with dirty boots. https://www.youtube.com/watch?v=97kXYnL2PWc

The East contracts are coming due August 1 and a lot of people can go on strike. The company will turn to us survivors to be scabs. Watch for your training invites coming in January! And if you're like me, you will say "no f in way" to leadership.

Leadership remind me of Mortimer and Winthrop in Trading Places

There are plans for laying off the remote employees w/o poss relocation to HQ in December. They think it will be too messy to offer remote workers option to move.

These may get pushed back to Jan/Feb.

The board has been coming into the office several days a week even during the pandemic. This is not about productivity, it’s about satisfying an unfounded perception from the board that also meets the cut numbers they want for profitability.

With the leadership team planning the budget next week, a significant portion will be over layoffs. They overhired and are moving faster than expected on the Consent Order.

At the same time, they are pushing ICs to move faster and faster leading to burnout, while planning to lay those same people off. The leadership was bemoaning that after the CO is over, there needs to be busy work until the layoff details could be finalized.

There is a major gap between Verizon’s international leadership and its US subscribers... For VZ to survive we should focus on America and completely stop offshoring to Europe and India. This got us nowhere and it's getting worse - we should focus on quality and stop this short term fixes that are causing chaos and rot.

I'm thankful that I survived another week at this place. I need these two days off coming up this week just to try to survive until I can get my EIP in March and leave. I set this as my main goal for myself and hope many of you will do the same. Get out of this soul ki-ling place. It seeps into every aspect of your life and the toxic environment corrupts everything it touches. Do not convince yourself this is the way things have to be, this is not living, it is just surviving until the next week. Waiting for the next calamity, next insane idea, next toxic leader or next reassignment inyo a horrible role. Sad place....this Snake Farm!

How do we feel about Jim Peichel as the new CTO? Seems like initial reaction is generally positive, but I don’t personally know anything about him.

SB, aka Bandy, closed the last Town Hall with a sort of “Trust me, bro” line.

Fitting, because that’s basically the financial strategy right now: trust us while we borrow new money to pay old debt and hope nobody asks why the interest bill keeps climbing.

Xerox isn’t running a literal Ponzi scheme, but the behavior rhymes: fresh debt replaces maturing debt, each round more expensive than the last, with no cash flow to reduce anything on its own.

Let's not forget some of SB's “stellar” performances in this Ponzi-like scheme:

• In September 2023, SB borrowed $500M to buy back from his lord and master Carl Icahn (a legendary activist investor who had fallen on hard times and was wrong not by decimal points but by several orders of magnitude in his calculations to buy HP) his stake in Xerox;

• In late 2024, SB borrowed another $220M to buy ITSavvy, the company then and nowadays run by a friend of the now-departed COO John B (still a board member though);

(Meanwhile, days later, SB indulged the whims of the also now-departed Chief Disruption Officer and wasted $10-20M on sponsoring the Aston Martin Aramco Formula 1 team, which wouldn't even win a Hot Wheels toy car race)

• And even though 2024 wasn't over yet, SB had time to plan how to borrow more money to acquire (well, rather than “acquire”, I would say “pay to be managed by”) Lexmark: close to $1B of extra liabilities for a company that lost about $740M last year.

SB & Friends claim they’ll pull out $200–300M in “synergies” by cutting overlapping functions, closing facilities, and shrinking corporate overhead.

Without those savings, the debt load gets heavier, interest expense keeps rising, and refinancing becomes harder. It’s that simple.

SB & Friends keep repeating the synergy story like it’s guaranteed.

It isn’t.

It requires flawless execution, discipline, and no surprises—things they know very little about.

Meanwhile, the core business is falling off a cliff. The only thing keeping this train moving is access to credit markets and the hope that lenders keep buying the story.

So yes: when the CEO says “Trust me, bro”, what he’s really saying is: “You are going to take a leap of faith and BELIEVE that the cuts will be implemented quickly, revenues will stop declining, and lenders will continue to be friendly”.

Except the lenders are not staying friendly anymore. S&P Global Ratings just cut Xerox’s credit rating to CCC+.

For those unfamiliar with S&P credit ratings: on a scale of 22, with 1 being “Prime” and 22 being “Lousy” (default, no money to pay bills anymore), CCC+ is 18.

S&P are also warning Xerox will burn $170–200M in cash this year and carry a debt load more than 7.5 times our earnings.

Put it in the simplest terms possible: the rating agency thinks we’re borrowing money just to stay alive, and that if anything goes wrong — if synergies slip, if revenue drops, if refinancing gets delayed — the whole structure can fall apart faster than any PowerPoint slide can explain.

At this point, the person who says "Trust me, bro" is in fact the last person you should trust.

So every year we employees have to do “training” about the PepsiCo code of conduct. This is the first year in my many years as a Faithful employee where I have felt it is a performative joke. My senior leadership is very much violating said code of conduct by creating a toxic and antagonistic work environment. And it is apparently CEO sanctioned. PepsiCo is no longer the supposed ethical company it claims to be. Anyone telling you otherwise is lying.

The worker bees, who had zero to do with the terrible decisions, get cut. Meanwhile the ivory tower people keep laughing all the way to the bank. If the masses ever figure out that the ol' left/right, union/non union "divide and conquer" routine has been played on them for 40+ years, then we might make some progress.

It’d be great to see the real numbers. Anyone who’s actually used AI knows it’s nowhere near reliable enough to replace human work outright. And yet we keep hearing that “AI-driven layoffs” are the future, when most reports say many of those jobs aren’t being replaced at all, or they’re being sent offshore. It feels like nothing more than old-school cost cutting dressed up as innovation. At the end of the day, it’s plain greed and leadership completely out of touch with the people who actually keep the place running.

Just check the OUTLOOK, you will see many of your Leadership names will be missing and this will be seen thru until 3rd week of December

besides the free $20m and salary for a year?

it has been more than one year since EH got CEO job.

I know Nike production is made and delivered in 6 to 9 months to consumers through Futures program to their store.

Now he has no excuse to use JD's incompetence as excuse for having top of the line classic Nike product in Nike store's HASH WALLS by tons with deep discount.
EH was one who OKd Air Jordans to be relegated to Hash Wall in Nike store!!!
And he launched Skims line after looong delays
And I have seen CNBC interview which he seemed to come out with typical corporate BS during entire interview!!

One might say that one year is too short to judge a CEO performance but when you don't see anything positive then it is better to do it early rather than later

He has not come out with any new significant new trent or styles and at the same time he has relegated Nike classics to trash status.

Is there any winner in Beaverton?

Hans cried during a webcast on the George Floyd protest....that was the most cringe moment at VZ I ever witnessed

Leaders at that company were clueless and ran it into the ground before Windstream bought them in a fire sale. The end started when we kept those clueless leaders and put them in key roles. EO being the ring leader of the id10ts. Rumor is she was supposed to get walking papers after the Uniti deal closed. I'm guessing she produced pictures of someone at a goat rodeo and was saved at the last minute. Prove me wrong.

Serious answers only please

Reverse integration as acquired leadership took over the mothership. But how is this going?

“Verizon doesn’t have a problem with its products or services; it has a people problem” - a former employee who tags Dan

Home girl the service is inadequate, and many of us have had to say it was great while trying to improve it.

Let's be real

1. Stores are drastically understaffed
2. Corporate human resources is disconnected from store associates
3. Favoritism is commonplace among associates and managers
4. Customer service is not a strong priority
5. sales numbers (good or bad) are not open discussed
6. High turnover among c suite leadership
7. belk is fending off many lawsuits from both employees and customers
8. Budgets and payroll dramatically cut
9. The company has a reputation for WOKE politics starting at c suite level
10. CEO remains an enigma to associates and managers

Chevron has delivered the worst stock performance of the year among all major oil companies. It’s obvious that Wall Street simply isn’t buying the story. No matter how desperate the ELT appears when communicating their strategy, they clearly no longer understand what it actually takes to win. They think they’re delivering what Wall Street wants, and maybe they can convince themselves of that — but they can’t convince anyone else. They can’t even convince their own employees. And the result is exactly what we’re seeing today: the worst-performing stock of the year.

Employee raises safety risk after third occurrence. Met with gaslighting and firing. Clear from the video that it happened:

https://cbsaustin.com/news/local/his-g-n-just-went-off-guard-says-sig-p320-fired-unexpectedly-at-usaa-guard-gate

Typical USAA! distrust employees and don't fix. RTO doesn't fix leadership attitude.

Who's next? Or are they done at that level and now will focus on the next levels?

How deep will Bain's cuts be?

If the AI hype has already peaked, does that mean Dell backed the wrong horse?

Does this mean MD might finally show JC the door for failing?

And what does all of this mean for the rest of Dell?”