Lay offs have not helped stock price in long run. You do get a quick bump up in price after the announcement but it’s a knee jerk marker reaction that gets corrected. I disagree with them both in 2016 and again in 2019. It’s poor planning and inability to maintain continuity within this company that creates the need for this turmoil in a growing and huge profitable market, hard to believe they need to do it.
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Any word on when it's going to happen?
I am all for bringing in younger more energetic people with fresh ideas and replacing older employees. I also agree that expenses need to be kept in line. What I have seen though is that there is too much hiring followed by too much firing. If expenses are a concern they should not allow duplication of functions and building up of empires.
Older employees are forced out because they're the most expensive. The value they provide is almost irrelevant to the company. Remember, you are a resource, not a person.
I believe the Ebtia would be a lot lower if the company did not continuously reorganize and terminate older employees even if “voluntarily”. How many times has this company been in a crunch to get things built quickly and have a “talent shortage”, preventing them to have the ability to do so effectively? how does that situation effect managing capital budgets in the long term? Forcing them tob buy assets at an overly inflated price to play market catch up? Organic vs inorganic growth? They are caught in an endless spiral of short term quarterly thinking. Unfortunately it’s typical for companies on Wall Street run by accountants and bean counters.
Let people retire when they want to, no need to waste money and giving them an hand out. This is a total waste of company dollars, imo. I don’t understand why this company doesn’t value expertise age and experience.