Thread regarding SAS Institute layoffs

@27nag+1sfHU4jx

It is 16 months from now if "by 2025" means "before the end of 2025"...

The last quotes from the leaders still say 2025...thats only 4 months away now. Is it time for Lucy to pull back the ball yet?

IPO - never gonna happen. Period.
Sale - will happen when G comes to Jesus with what he wants isn’t what the market will give. Then, very significant layoffs. Very significant.
VRBP - those days could be over. Initial offer were way too rich and as company preps for a sale, anything line VRBPs only hurts the financials.

Best advice is to assume the worst and make the best of it. Find your next opportunity and grab it when it comes. Thinking there is a pot of gold at the end of SAS rainbow is delusional.

The only thing I expect is to lose my job. And that I won't be the only one.

@2jqe+1sfHU4jx

Me too!

I’m hoping for the currently documented severance when I eventually get laid off. In the meantime I’m still putting in maximum effort and working on increasing skills and certifications.

What are my expectations after a sale or IPO?

Nothing. Literally nothing. Anyone who is hoping for more is foolish. The person who said ESPP is the closest to my thoughts on this, I guess. But I doubt most people will get that far. The company as a "brand" is worthless. The core technology is the only desirable asset at this company other than the land the cary HQ sits on. Not the people, not the knowledge, etc.

VRBP represents a risk, financial and skill loss. They been there, done that, and would rather just lay off 10% a year thank you very much!

"There are many of us in my situation, and a VRBP is thus a win for us and for the company."

Unfortunately, targeted layoffs is a bigger win for the company and it seems that is the route they are now taking.

@1fvv+1sfHU4jx

Re: “impending reorg in my division”. Care to share which division?

I never expect(ed) a VRBP because never has one been promised. Everything that SAS owes to me is always paid in full at the end of every month. But, I am hoping to have a VRBP as an incentive to retire. Without any incentive, I see no reason to stop working for a monthly paycheck any time soon.

If we have an IPO, I have no expectation that it will benefit me. Preparing for it probably benefits me indirectly if I do not retire, as that preparation hopefully is making us more efficient. I do not buy individual stocks, so a stock offering has no value to me. I do not see a growth potential that is sufficient for me to make an exception.

Our revenue per employee is approximately what it was a decade ago, so we must improve that ratio. There are many of us in my situation, and a VRBP is thus a win for us and for the company.

I am so very glad my wife helped me realize the 2021 VRBP was not something to pass up.

"Not excited about the prospect of finding a new job in my early 50's after 25+ years at SAS."

I wasn't either. But then an opportunity came up and I seized. I was early 50's too...and worried that I was past it...I wasn't it.

It's hard to change jobs after such a long time at one place. It's scary. You think you can't do it. But that brain of ours is incredibly flexible. Turns out we can adapt and thrive. Just go to be brave enough to put yourself out there and give it a go.

Joining SAS was one of the best decisions of my career.

Leaving SAS was also one of the best decisions of my career.

I think the best that anyone could expect from an IPO is an ESPP (employee stock purchase plan).

This is industry stand for publicly listed tech companies and it typically allows you to buy stock at a 15% discount capped at typically around 15% of salary to a maximum of around $30k/year. So about a $4,500/year benefit is typical. On top of that, new hires often receive RSU's (restricted stock units) and top performers and very senior execs will get stock grants as part of their bonus package.

The reason there are so many multi-millionare individual contributor software devs, is not because of their salaries, it's because they went all in on ESPP and accumulated their wealth through big increases in stock prices.

That won't happen at SAS as it's hard to see SAS's stock price growing significantly given the major internal and external challenges it faces.

So really, I don't think there is much upside for SAS employees. As for the downside, well that's pretty obvious...large scale redundancies demanded by Wall Street analysts and activist investors.

A better option for employees would likely be a buyout from the likes of Broadcom. It's a shame that deal fell through as it could have benefited the surviving employees by several hundred thousands dollars each, as has happened for VMWare employees who were retained and awarded RSUs. But, of course it comes with the same downside as IPO - large scale redundancies.

Either way, large scale redundancies are coming, so it would be wise to prepare.

IPO - I expect we'll be given the ability to buy shares at a reduced price. No thanks.

Sale - I think they'll give employees something, but nothing that will impact one's financial life significantly.

FWIW, the communication about an IPO has really died down.

Similarly to poster above, I thought there would be another VRBP too, and now I don't.

Currently just holding my breath to see what comes out of the impending reorg in my division. Been rumored that my low-level management position will be eliminated. Not excited about the prospect of finding a new job in my early 50's after 25+ years at SAS.

I used to expect a VRBP, now I dont. I never expected to gain anything from an IPO or sale and I still dont. I do expect layoffs if sold. I dont see much of a boon at the end of all of this to be honest, just holding on till the end.