The plan to implement "restructuring" has got to be well under way. How much time do we have before the hammer falls?
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Companies don’t have to lay people off when they can just fire the ones people don’t like or make lives so miserable people quit. It’s not like HR will do anything.
Not that it counts, but I would personally feel betrayed if they implemented layoffs this year. We all agreed to significant pay cuts and mandatory PTO to avoid exactly that. If they go ahead and make cuts after all those measures, then why didn't we just do layoffs in the first place? Making cuts now, when the job market is so saturated, would be far worse than it would have been 5 months ago.
Accrued PTO is a liability (i.e. debt). The debt/EBITDA ratio is used by lenders and valuation analysts to gauge a company’s liquidity and its ability to cover its debts. This is an important measure if Riverbed is in the process of restructuring its debt. (https://www.investopedia.com/terms/d/debt_edbitda.asp) Reduce the accrued PTO burden and you make the ratio look better.
So, can anyone explain how forcing us to take 9 days of PTO helps the bottom line? I don't see how this impacts EBITDA if we know how much vacation each person would have on the year
Lol. Come on people.
We have one person saying 25%, another saying 30%, and im sure someone else will respond with another random number.
Why the heck would we layoff now? This quarter seemingly should be better than last since some of Q2 deals fell into Q3. If you read LP email, we should be in line with the profit sharing with this next PTO thing. Why profit share if we need that money to survive?
People are also forgetting that we are restructuring our debt in Q4 which should help considerably. This is done every 7 years and luckily its done this year as we certainly need it.
Remember, companies that are going to layoff have to be able to afford it which is why this pto thing isn't bad. Its alot better than looking for another job and going through the same thing/cycle at, let's say Cisco.
My 2 cents.
Took all my vacation hours. What’s next, we have to pay riverbed to go to work?
Starting to see upper management reaching out to directs, sure sign 1st line managers are out since my manager doesn’t even know of there reach around.
Sad
Depressing
Now job shopping
Leadership is trying
Sales leadership is out of touch
All the personal issues and stress from the pandemic and the beat downs are worse then ever.
Time to move on!
what's the current count in terms of workforce?
30% cut
Depends how the quarter plays out. If we hit less than 90% of bottom line forecast, expect a 25% cut by December