Something is going on. Layoffs and big changes must be coming. People are acting weird and big “emergency meeting” took place in GV. Time to go.
21 replies (most recent on top)
To the poster who said that acquisitions did not add anything.
I think you're wrong. It did add 'Corporate Development and M&A' to some people's resume here who otherwise would have had 'GED/High School Diploma' on their LinkedIn. (hint: biz dev team headed by Shady SH who hasn't sold anything in years)
8nvm, you’re right that would require planning. Better to continue the rezi way which is draw up black list of people directors don’t like and get rid of them and sent the message that dissenting is not tolerated, s—ing up is rewarded!
The point of a furlough is NO work and NO pay...its illegal to have people work without pay...then again. lol
They are going to go right past furlough and go to cuts. Furloughs take too much planning.
Prepare for some “furloughs” during Xmas .... no pay but must work
@6IBW - No one believes you who has ANY insight or a clue.
say it again,
Layoffs and other cuts are a comin'
1) your senior fellows are the reason you have products no one wants and that dont work or stay up.
2) Storm. still on the drawing board after 3 years...good luck with that. Buoy is anther example of your "advanced technology"...bad aquisition and you guys are re-engineering from square one at 5 times the cost....lol can you say Phyn...flo?
3) yes, buy some more of that worthless stock. They should sell it on the IND Stock market.....they wont have to worry about 17 different security fraud lawsuits which is what Rezi is up to..17...lol...best of luck with those. Should be interesting.
4) Pipeline...lol...you dont have one. no one (and less every day) are buying your stuff. great marketing too.
5) Yes, you should see if you can get in on Sr "Leaderships" bonuses before they shut the doors and they end up in Jail for Securitees fraud and misleading investors..
lol
No lay-off . New products designed by our most senior fellows are in the table . Storm is such an example of advanced technology, years ahead of the market. Let’s buy some stock to prove that those lawsuits are baseless and there is a pipeline of high end products that can beat any competitors driven by those fellows. The fact they have large cash bonuses and stock is a reflection on how well they have driven rezi to success
4gko - Unfortunately, the board is part of the problem. its the incestuous gaming relationships. We keep leaving out the fact that those who Moobs reports into are part of the problem. The Godfather....Don Cazzo we will call him is also a gaming guy and is the one buying into all the c-ap Moobs is selling. We are just as broken as ever if not more than ever and have no hope on the horizon and the perception up high is Moobs as fixed issues and gotten products ready for release which is far from true.
3hkr - You are 100% correct! The problem that our esteemed leader has is that he is listening to the wrong people and buying into everything that they are saying. We have missed out on some good acquisitions that would actually add to our business and deliver profitable growth, instead of the small acquisitions that we have made that are doing nothing for us in the short term. We have also not been able to capitalize on the turmoil that is happening in the industry, in large part because we are part of the turmoil. Hopefully the board is taking this seriously and will make the changes necessary and put people in place that can understand the business and put a realistic strategy in place and then execute on it!!
Unlike one of the posters from a far away subcontinent that was saying something about the stock rebounding (can’t stop laughing too) ... that not the way to get rich.
The way to be rich is to create a little toy that mimic some water valve and then sell it for about $10M plus a large amount of stock to a incompetent CEO ( who can help you with refilling printer cartridges but not much besides that) then have the company invest at least $20M and restart the whole design because it could possibly work at scale. Now that’s the way to get rich.... not on selling air but water flowing through your fingers so you are left with nothing -but the sale person won the powerball ;) that’s at least worth a VP title isn’t? ... s—ers born every minute isn’t ? Just didn’t know we would be the flagship of s—ers
3fzb...
ROFL.... can’t stop laughing by how transparent you are.... there is no product that actually work for real in the pipeline ... if you were in really in engineering you would know... and trying to have people buying a sinking stock could be seen as pure malfeasance .... because the loss to small investors will be catastrophic
I just signed up to all lawsuits and provided mucho information. Encourage all to do the same. A previous poster was correct, this Corp need a hard reboot and it can only be done if the games that you and other play STOP. Only an external force through the market can create change > lawsuits can be such a force.
Resideo stock will rebound once our new products hit and we realign a few priorities. Those reading should really not pay attention to the fear mongering trolls. Remember, internet 4-5 postings here can give the impression that the sky is falling, which in this case is not. Don't believe anything you read. Very frustrating.
3zmb - I actually just LOLed when i read this.
didn't you say the same thing the day before they had the big layof a couple pf months back.
Next you will say we are releasing great product people want, our software is great, we arent having outages and our stock price is doing great. LOL
you are the most adorable HR troll out there.
Thanks for the laughs.
My Go..so much exaggeration. There are no layoff's coming. Good times ahead where we will get a stronghold as THE market leader. Stop the fear mongering!
@ 1zdb
The constant blaming of Honeywell is not really productive anymore especially when we’re still taking revenue from their products that came years ago. However, Incompetence demonstrated by those “projects” led by people from external locations with manpower from said location brought disaster. ... at multiple millions of dollars of investors
The thing that baffles me is that once all of the "dust settles" from these changes, every single "leader" will still be in place making their boatloads of money. They will fire lots of middle management and lots of boots on the ground making it even harder and more stressful to deliver anything of value. This company needs investment, not cuts. The leader of security is as ruthless as they come. She has her small click in the corner area of the ny office and a few others outside in the "bullpen" and that's it. Everyone else is meaningless to her. There is no real leadership skills there. She is in survival mode and will do anything to save herself, first, and her click second. If you're not in that click, it's time to move on because you are potentially on the chopping block. Even if you are in that click, it doesn't take much to get booted out of it. She is just as emotionally unstable as gameboy guy. Start looking while the market is jumping hot.
When you mention Granite and titan, these are ripple effect from HCH, SWS, ... honeybadger and the acquisition from Nest by google that transformed this market. The challenge is to get back to fundamental on delivering product to market.
The collapse is really about what happened with the former CTO and the people that launched those multi millions dollars projects like granite and Titan.... especially granite set a cascading domino that screwed the company... note that all those people left the company and got a good reward for their effort using the company for their personal gains living the life in Atlanta ...
Why did incompetent people were given so much power is beyond me... and why those acquisitions???
Welcome to being part of a junk bond rated company. Huge mistake to do acquisitions immediately after the Spin rather than saving cash and focussing on debt servicing.
I can validate what wvv posted. It is absolutely that big and they are going to rush to execute it. This was what that "emergency" meeting was in GV and what most of the board meeting last week was. Finalizing this plan. its becoming apparent to the board and investors that this company is not healthy, has no leadership , no innovative products and has a poor outlook for the future. They are going to try and delay the inevitable which is a failed company. Best case Chapter 11, worst case sell the pieces (if anyone would want them) and shut the doors. its that bad. Theres is a good reason Hon got rid of us. Cuts like over the next few months almost half of company is gone including people. Much over the next 30 to 45 days in an effort to look healthier in the new year. Its grab your ankles big.
Big cuts coming. Cuts like no longer serving multiple countries big. Cuts like exiting complete product lines big. Cuts like closing down multiple site locations big. Every department will be impacted.
Wvs6 - what level attended the meeting? how far in advance was the notice for people to attend and how long was the meeting? You can get an idea but answering these....15 minutes...someone high up is leaving....4 hours...planning another re-org etc etc.
The time to abandon ship passed a long time ago. You have no prospects as far as products being released. No innovation or anything anyone would want to buy plus dates keep getting pushed out due to incompetent and not being able to get anything working. You have sales dropping, customers fleeing and you are a "pro installer" company in a DIY world. They massaged numbers to the point they cant massage them any longer to the point that no less that 12 to 15 law firms filed securities fraud lawsuits and the CFO got canned.
You had a CTO that did absolutely nothing but harass employees and foster and abusive and discriminatory environment. HR and "Leadership" let it happen for years. You continue to outsource to third world developers...not the best and brightest. You hire gamers from 15 person companies in a panic to turn things around then act surprised when they dont deliver anything. We arent a gaming company and we are competing against Amazon, google etc etc and are 10 plus years behind them in our space. What do you get...Slack and Buoy
What you are seeing is final preparation for the plan that was finalized during the board meeting last week. The cuts are about to start as they want it mostly executed by year end to show a save by next year.
Have yourself a Merry little Xmas!!!