I have a proposal for the BOD’s I think they will enjoy. Instead of laying off staff we should layoff the entire SLT with AI in order to drive company growth, innovation, and profitability. By now, the Board can already sense they dropped the ball hiring Enrique because he does nothing except lose market cap value. So why not save the company hundreds of millions by laying off the executives? Do you actually think AI would do worse? This company’s currently at its lowest point in history. Some people will read this as a joke but the more you think they more it actually makes sense. Also, think of all the stock comp that will be saved!! Buybacks will actually mean something now.
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@w5 stock price can still recover.... far from a guarantee though. Most likely they will just fire a lot of people, and pretty up the company for a sale. Maybe hope for a premium of $70+
I don't have a high opinion of lores but come on, give him more than a few months at least. You can't just come in and wave a magic wand. I dont think he will change much but we have to give him a chance. Unfortunately, layoffs is the absolute easiest way for companies to save money so just about anyone trying to turn the company around would do the same. Would you feel better if ai was in charge and made the decision to lay off 20%? Probably not. We've been dealing with this for years. I dont think things are going to change any time soon, if ever. They're going to keep trying to do more work with less people, they'll take away whatever benefits they can, forget all about wellness and replace as many jobs as possible with ai. The stock price will probably never meaningfully grow. We're a mature company that is widely viewed as a value trap. Sorry to say it but I think we all need to accept this is the reality of it. It's not likely to change. We each need to decide how we want to move forward. Me personally, I'm working on an exit. Theres another $hit job out there somewhere for me. I know it.
@dy totally agree with the 3+ year rule. So many of us have institutional knowledge, and then so many good people get let go, and the knowledge goes with them. Half the people are relying on AI, because they are tracking our usage. It's a bizarre place where leadership fuels the fire of our culture of fear of layoffs. No clear messaging from any leader. No one knows what the heck is going on or when.
I could puke listening to Enrique sp-t out ideas around cloud modernization that mirror ideas punted pre Archie Deskus. The amount of regurgitation that happens at PayPal is stunning.
I think there should be a time where employees go on strike and ask for sanity and common sense to come back. Senior Leadership team have no idea what they are doing. They keep coming up with ideas and try to reinvent the wheel every year.
We should probably also have a rule that says that a new CEO/EVP/SVP etc... should not be able to layoff people under him if he cannot prove he can stay at least 3+ years in his/her position.
Most of us have been here much longer than those clowns and kept the company going all those years. And yet, those clowns show up one day and the next day start laying off people, even though they are likely not to be in the company in a year or two.
They are probably asking chat GPT for advices anyway, might as well, that would true inovation, the first company to be lead by AI