Based in Europe in the Product org. We were told this week that by July 1st they will have the reorg pretty much done and seems like layoffs are coming due to the TAM.
What's other orgs hearing and what region are you in?
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@d3 Is it bad that I want the stock completely tanked? I hate Global with a passion.
Individual Contributor. Means managers and above are taking the biggest hit.
@hx sorry what is IC? Are you in North America?
@hx state your source
Not disagreeing, as this is what I’ve heard from my boss.
My chain of command is (tech org):
SVP > Sr Director > Sr director > sr manager
Curious what this will look like
1 in 3 people are going to loose your jobs if you are non IC
From my understanding, hGP does not have a large Compliance organization. WP CCO remained as did all directs. Seems that hWP Compliance will absorb what hGP had, unsure if that means there will be any reductions or not. Don't think so, though
major reductions are anticipated as a part of that.
@dh you are not wrong. The whole purpose of this integration is to get rid of all GP products and technologies except Genius, and have them replaced by WP. There is nothing from GP side on so called TAM 2.0.
Seems like all GP product teams except anyone touching Genius is going to be reduced. I don't know anything that's just reading the tea leaves from all the posts here. Correct me if I am wrong
The stock price is dismal. I don’t know why anyone would believe the company is doing well.
Most of the RIFs will happen at n-3, most likely. Equity bonuses where delayed until July to make sure they only grant equity to people who will still be with the company. The reorg will be a bloodbath for the VP-Director Levels.
Meanwhile Cameron got a 10% raise in his salary (everyone else got 3%) as a reward for lowering the stock price by half since he became CEO.
I keep wondering how much longer they keep this clown at CEO given he has failed at every major step of the way. 3 Major announcements, 3 times the Market hated it... Including a "transformation" at the hands of McKinsey, and the "pure transaction" play transaction, that saw us double down on transaction based revenue, ahead of a near 100% chance of a global recession... Luckily he sold off the part of the business that kept everything a float during the last time people stopped using credit cards... (Covid)
How much lower does the stock have to go before you finally toss this "captain" overboard?
@OP In an email from Ryan Loy today, it is indicated, though not explicitly stated, that the Tech org reduction in force (RIF) and reorganization are expected to be completed by the end of Q2, which corresponds to July 1.
Based on the communication that came out today on N3 org structure and next steps, I guess it is correct. They said we will have next 2 levels figured out by end of Q2.