So is this just the rumour mill after HN announcement or is there definitive plans in the pipeline to get rid of these bu's ? Get feeling In last few weeks there is no joined up thinking whastsover between divisions and the constant layoffs and loss of knowledge has finally stalled commscope.
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None of the c-suite should ever get another job after their disastrous lack of performance at CommScope, especially Chuckles.
1 in the Hand is better than 2 in the bush
Well said @6zvt+1oXNHCNd.
It's just insane the games this so-called "Executive Leadership Team (ELT)" has engaged in.
Their eyes were bigger than their pocketbooks when they went on a buying binge in 2017-2019. They gobbled up ARRIS which had just acquired Ruckus, and then they proceeded to give all of the combined employees the old song and dance of "We've got to tighten our belts and hunker down", "Gotta get those sales numbers up", and my favorite "Everyone has to sacrifice for the good of the team"...
Yeah... But...
Oh Chuck Treadway banked $10.6 Million in just 2022. A regular staff engineer is paid about $125k a year. Why doesn't the company cut Chuck's pay to a total of $1 million for 2023 (including salary and equity stakes), and that'll allow for another 70 Engineers to keep their job? Question is? Does Chuck perform such a bang up job that he's worth the pay of 80 engineers?
John Carloson (Senior VP and Chief Commercial Officer) is paid $2.2 Million a year. Is he worth it? CommScope's CFO (Kyle D. Lorentzen) is paid $3.6 Million a year. Why? Because he's really good with Excel? These guys all make bank, as they cry to their employees, "Sacrifice for the greater good of this company"...
Meanwhile... We'll bullocks everything, buy more than we know what to do with, and only a few short years later (after destroying the acquired companies), sell them off in a fire sale to save our own butts from bankruptcy.
CommScope's ELT Su-ks!!!
If all were in it together, then they would have issued $0 stocks to everyone. Clearly some are more in it than others. They will want max return on those $0 stocks. Hence, expect Ruckus & ANS to be sold, swiftly followed by the remaining core CS being sold. Management will be laughing all the way to the bank.
Well after IT townhall,the writing is on the wall.not replacing support staff between layoffs and spinco. Praising themselves for projects not 100% over the line, pay freezes.the list just grows and grows.deeper despair and anger after every one of these charades meetings with condescending " we are all in this together" BS speeches. Have some respect for remaining employees
Excerpt from Lightreading October 3rd article entitled "Vantiva makes play for CommScope's set-top and gateway unit":
More moves to come?
CommScope's proposed sale of Home Networks could be the first of multiple divestments. Industry sources confirmed that CommScope is also exploring the potential sale of other assets, including Ruckus Wireless and CommScope's Access Networks Solutions (ANS) division.
"When we rolled out our CommScope NEXT plan in 2021, we identified portfolio management as a key pillar of the program. Portfolio management is an ongoing process, and we have identified several opportunities to optimize our portfolio," CommScope said in a statement, but added that it's not yet ready to elaborate on its specific plans.
UPDATE: Exiting the Home Networks business does not meaningfully help CommScope reduce its debt or materially improve the company's balance sheet, Raymond James analyst Simon Leopold explained in a research note issued this morning. But the transaction "eliminates an overhang/distraction and improves the growth and profitability profile of the remaining CommScope," he added.
But CommScope's purported plan to sell other assets in its portfolio could help the company reduce some debt, with about $4.5 billion due in 2026, Leopold added.