Third month of cuts with no end in sight. First month, kosher - doin’ it for the Riverbed fam. Two months - last pass. Third month - now you’re just f—ing it all. You can already kiss a number of good talented people goodbye. More, if this continues.
Give it to us straight and stop dicking around with people’s livelihoods. With Riverbed’s debt being insolvent, economy being flat, Federal unemployment aid ending soon...something has to give.
Riverbed is led by techless id–ts who try to fix things with sales. Not how it works in real life.
HPE acquired Silver Peak for $925m. SP is top SDWAN Vendor and does WAN Opt. RVBD is worth less.
That’s what it sounds like to me. I don’t get why we split off Aternity if we were still at the mercy of TB or why products aren’t evolving or features removed during major releases. It seems we have a vulture management team that’s looking out for themselves, aiming to get some golden payout.
So, you’re telling me the pay cut is so TB can keep their profits?
Bottom line, Riverbed is a nice to have. Few A and B players left while few remain behind but, with no focus on retention, they will soon leave. Riverbed will end up with only D and C players and many political leaders with mid- to low- EQ by the end of this.
Job market is still hot for top/modern-thinking and high EQ players across the board. While COVID did play its part slowing down hiring but it only flooded the market with top players looking for modernization, relevance and pandemic-level stability. For those wondering what “modern” means then realize you’re too far inside the Riverbed box to see the changes that transpired over the past decade.
The few things people did learn over the past 2+ years is how political, prideful, title grabbing and self-preserving people are and how this destroys culture, innovation and leadership quality. Today, the amount of unconscious bias is astounding but, more astounding, is how many people are simply unaware of this, driving down morale and behavior. Sadly, because Riverbed operates in such a bureaucratic manner, much of this goes unnoticed because the focus is on checking boxes, process creation, statistics checking and EBITDA.
Going back to the first statement - riverbed is a nice to have. It’s been this way for a very long time. It seems that the product team wants have “all the answers” before they take the “test” - don’t we all want this?! Clearly there must be some level of “fear” to produce features but the question becomes “why”.
I’m no longer at Riverbed and working in a modern and relevant company has opened my eyes and is why I’m posting here. There are fundamental problems, behind the salary cuts, that’s just not being addressed. I know where the weaknesses are now and riverbed has a chance to turn things around but your leaders will need to look under the right rocks that has no moss on them.
Sorry, meant reduced payroll expense - not reduced headcount, though that will get you there, too.
It is going to EBITDA. The reduced headcount expense helps offset missing revenue targets. You make TB’s number by either bringing in revenue or by cutting expenses.
Can anyone shed light into where EXACTLY where the pay cut $ is going to?
I'm way ahead of you (found a much better job).
find a better job or stop whining and happily accept the situation.
Riverbed is approaching a cliff, debt refinancing will be the edge. WANOp isn't going to grow again, not even the mobile edge. Versa has turned away and is taking deals direct, have their own edge for WFH, and no integration done with SteelHead. It seems even partners don't want to work with Riverbed, so unless the remaining sales teams can produce a miracle, I think the game is over. Just rip the bandage off - sell what you can. For the employees, save yourself - go find a new job. Don't be the last one.
WAN optimization is not nearly as relevant as it once was. Even with WFH. I would not hold my breath for any type of turnaround.
Does anyone how the company’s profit is prioritized?
We’ve been told the two months of 20% pay cut is to help keep from laying off people and now the 3 month 10% reduction plus mandatory week off is doing the same.
Is all this saved money really being used for that purpose? I suspect not and it’s fooked up.
Completely tone deaf. Expect massive churn in all teams. Thoma Bravo have bent the exec’s over and made them s— it with their ridiculous debt re-financing master-plan. Looks like the new CEO is a yes man.
Let’s take advantage of employees’ vacation hours while COVID ravages our bottom line since they can’t travel anyways.
Back to the same old bag of tricks. How hypocritical of this new leadership to first remove this and now reinstate it.
Any news on the Q3 revision to the pay cuts are?
Sometimes I've wondered if the numbers are correct on the slides we get during our quarterly review. I mean its easy to say we "always come up short" but did we really come up short or are those numbers fudged a little to use as an excuse?
With our 20% reduction we've given back to riverbed, it is REALLY gonna piss people off if there is a RIF. If you get rid of people after we've helped the bottom line, then consider the rest of us gone as well who survived it.
Be upfront. Be clear. Be honest.
Bad quarter and pipe. Expect 25% headcount reduction by Christmas