Massive losses for July and August so we hear. Lots of panic to get some quick cuts. They have kicked off project "Z" to reduce. Anyone have more details? Especially in India? Good luck everyone.
31 replies (most recent on top)
9zwl - you're adorable too! Yes, you guys are very smart (and good lookin') and you will dominate Amazon and google with your gamer changers. Come back in a few weeks when they start or better after they announce Q3 numbers.
There are no layoffs/cuts on the way. dont believe these people. They do nothing but spreading lies and fear. We will meet our goals for this year and hopefully position the business to dominate over our competitors and become number one again.
9vte - cuts to contract service workers has already been underway. one contractor went from about 80 resources to about 12.
As for regular employees - some have left on their own and the actual cutting is going to take place in two to three weeks.
Has the "re-org" in bangalore started? No layoffs? What's the latest news on that?
8vhz - you're adorable! LOL Because he called the software he can't get working the "nest k–ler" ..doesn't mean its a nest k–ler. Good luck competing with google (Nest) and Amazon (Ring) with that team. He ran a 40 person dysfunctional company, but yea..he ran a company.
As for your "reliable sources" and the numbers....I actually have seen them...your source is WAY off.
Maybe you can monetize whatever it is you are smoking... Next you are going to tell us the stock is doing spectacular...its only down 47% in a month.
I believe this new CTO is going to bring a lot of good changes to our business. He worked in the silicon valley for many years and got know what it takes to put us in a better direction to complete with nest and win !!!
I also talked to a reliable source who told me there will be no layoffs coming any time soon. sales are good.
Yes! the game is ....when I change the temperature on my thermostat will it actually do anything. you actually have to beat the level to get a temperature change...
They are also working on a gambling app. Every time you go into it...its a gamble if their network is actually up.
So previous CTO was the guy that took credit for some PlayStation stuff (yeah right..) and the replacement is also a gamer... is REZI becoming a game Corp? What’s the next product? Gran Sh–ismo PS4 ?
But he got Slack in place and that's really cool...... If you can follow whats important with all the threads going on that block out whats important.
7mvh - you summed this guy up (and his crew) perfectly. He is definitely not a leader and he talks a much better game than his actual capabilities (which is scary). I have seen him demote and fire people based on having a total of 15 minutes of conversations with the person and even less time assessing the dept. He didn't understand their role, what the dept did etc but made the snap decision that is already causing issues. He is also just as bad as the last CTO at identifying talent (or not being able to is a better way to put it) which we didn't think possible. He surrounds himself with "Yes men" who are afraid to tell him the actual status of things or go against him in any way and he is only interested in hearing the good news....never the bad news. Good luck all.
The issues mentioned by 6fwl are compounded by the new fearless gaming leader who was tasked with getting the engineering staff and other departments "sized right" and getting it done quickly. Although I don't disagree this is needed, the problem with this approach is he is making decisions based off of first impressions, at best, and eventually will fire people or force those to leave who are extremely valuable to the various businesses. He is striking fear in every dept and probably gloats over that. This guy is not a leader or someone you follow/look up to. His "pack" will turn on him as quickly as he will turn on them. You are either a friend or a foe and that decision is made by his first impression of you and even if you've become a "friend", you're one wrong decision away from becoming a "foe". To him, everyone is incompetent, including the CEO, except for the pres who brought him in. By the time he leaves (1-3 years), who will be left to save this business? It's unfortunate Resideo can't get this right. The smart home industry is booming and will continue to boom for quite some time.
6qnf - agree but its got to be higher than that. clean house from the very top down....fast. How you can expect to keep the very people that caused Honeywell to dump this product line and expect a different outcome is beyond me.
6viz - Really good post. I think there's another aspect to this. They hired a small handful of people with gaming backgrounds. While they may know how to write games and understand at a high level CI/CD they know don't jack about competing with Google (Nest etc), Amazon (ring etc in the connected space). They certainly can't lead or organize. I think there's a false sense of achievement / security by having this very small group embedded with the ocean of in competence you mention. They can speak well and I think they have some of the higher ups fooled as they continue to do the same things (non-delivery, push off dates) that's always been going on. In the long run things will get worse. Remember the multiplayer project? lets hire some good folks and they can cross pollinate with the majority clueless....how did that work out?
This setup is wrong on so many levels:
- Lowest cost engineering exclusively used to implement based on "from on high" architecture produced by architects not in that team and in a completely different culture separated by 10,000 miles. Gee, what could go wrong? Those doing the implementation have no idea of how the products should work because they aren't even sold in the country they live in. There is a huge mismatch in capability between the two sides. And no, it isn't going to be solved by co-locating. It will eventually get solved by using more expensive engineers who have the requisite education. Or it won't and money will continue to be lost.
- Feature sets for all products and product categories are not "game changing". In all cases, they are playing catch-up with competitive products. Not inventing anything new, at best upping a couple of spec items and tech refreshing.
- Existing connected products (at least the comfort ones) aren't stable. Sorry, 96% uptime is a fail for a connected product. Strangely, the oft-maligned cameras have much better uptime. What is that little Taiwan-based company doing right that we are not?
Who architected and built those platforms mentioned before? Same people still around. Do the math.... the people that need to go... those sneaky incompetent managers and directors get to stay and wait for their fat pensions while the real people wanting to do something are pushed down
Until they fire a bunch of directors nobody will believe there will be a recovery
Hope so...the sad thing s this company is so backwards no one can tell!!
I think 5mtq was being sarcastic. Had to have been.
5mtq - dude you’re. Embarrassing yourself and what’s left of this company. Ring, alarm.com simply safe, abode are wireless to name a few. The ability to have my alarm call the police has been around for 50 years....you’re proving these guys points. Lol. Touch screen? Oh tell me more! Dude. Hate to pee on your parade but those too have been out forever.
Grip GM will change the industry. It has wireless technologies and touchscreen. Very useful for people who don’t know how to use alarm system. When there is alarm the sound is loud and call police
4wth - How could we forget the RSI Motion viewer game changer! We left it off since we heard what a disaster it was but dont have a lot of info since the company tried to hide when it was cr@pp1ng the bed. Maybe we should just add RSI and GMGrip to the growing list of game changers below.
4coy- you forgot to mention the RSI motion viewers.
4gwo - LOLZ!!! And dont forget the other game changers..
Lyric ROund
T5/T6
T9
DAS Pro
FLy catcher..
Lyric camera
TCC Video - includes video quality you can make out whos breaking into your house.
Granite (cutting edge platform that thats down more than up)
CHIL (nuff said about this little disaster of a "platform")
TItan (upcoming game changer that no one knows whats going on with it but it will be a game changer)
Storm (upcoming game changer thats been in limbo for 4 years)
Lyric App / Honewell home app (rebranded because they couldnt get the new game changer working)
The upcoming "Nest k–ler"...lol
Grip Gm is a game changer. Just like gateway was a game changer. Just like Das was a game changer. Keep drinking the koolaid.
After working for Honeywell/Resideo for over a decade and watching it's steady decline, I'm so happy I left. There's life outside of this company. Get the f**k out while you still have a job.
Not poster but I can say People keep hoping it gets turned around and becomes the innovative company it once was with a bright future. Many of us had high hopes after it was spun off from Hon that it would get better but sadly it did not. Unfortunately, it gets worse every day. The fact you say its a game changer proves the point. Simply Safe, Alarm.com Ring alarm and other true innovators are/were the game changers. We have been left behind and outsourced to the cheapest regions and didn't focus on hiring the best, we focused on hiring the cheapest and still do. Good luck all.
3bsu- I think it's time for you to get a new job and leave the company if you are that unhappy. Like the rest here, I think quicksilver is a game changer in the market. Dealers are extremely excited about it.
Wow...1000 shares of a stock no one buys and is down 45% in the last month...lol Congrats.
You are assuming 1) people on this board were laid off 2) are / were actual employees.
How is Storm coming along? Titan? How is Buoy integrating with the app? How did that work out? Had to continue using the standalone app? Lol.
Go ahead...throw GMgrip back...lol
The entire engineering team got 1000 rsu for GMGrip. Don't listen to these guys, they got laid off for a reason.
3alq - not the OP but had to jump in. You are outright lying or just plain out of the loop. The numbers were record breaking bad. Good Luck with Grip, QuickS, Ti**, Stor, Kat** and the host of other projects that are failing and making no progress.. Oh and Bou*...good luck with that disaster.
Yes, The company will be in great shape for a fire sale....
July and August sales are excellent and with GRIP GM almost ready for release the company will be in great shape.
Soon they will call it project Zero. Minimal cuts in India, major in other locations as India management complains about the performance of GV and Melville, notably in the area of architecture which has never actually produced anything but ppts....
I have also heard about these losses and the panic they are causing. The Project Z part two planning is fully under way and they want to start the cuts asap.