Not that it counts, but I would personally feel betrayed if they implemented layoffs this year. We all agreed to significant pay cuts and mandatory PTO to avoid exactly that. If they go ahead and make cuts after all those measures, then why didn't we just do layoffs in the first place? Making cuts now, when the job market is so saturated, would be far worse than it would have been 5 months ago.
Perfectly stated, @aneh+16rGSsQZ. Couldn't agree more.
Layoffs would be great!
ELA’s
What magical event is everyone waiting for that you think will turn things around? Is there a new product on the horizon? For the past few years SD-WAN was supposed to be the next big thing. What is everyone banking on now?
I’m expecting layoffs since I’ve been hearing revenue does not look good this quarter since there’s isn’t much left in vacation hours for Riverbed to take.
Innovation takes time, something Riverbed doesn’t have
Layoffs are coming if this quarter target isn't hit. We've saved money by taking a paycut, and RMB promises return to full pay within Q4, but he didn't confirm that we would have the same level of headcount. This is a business decision, not a personal one. Our pay reduction wasn't a favor to the business, it was us accepting that we would be paid less to ensure a check keeps coming in for these months.
The perception from outside the business is that Riverbed is failing. The smartest people are leaving, or have already left. Pay attention to who decides to shift out of the company, and ask yourself if you trust their judgement. It's going to be an uphill battle to make Riverbed a billion dollar company again, but we can do it if there's new innovation from engineering. Without innovation, we're dead in the water
I know TB had their hands on all decisions at Riverbed. This means they approved of AE and PM (Laurel and Hardy), POF and tech “lame trusts” that led to Riverbed buying Ocedo and Xirrus, moved Engineering to India (guaranteeing zero innovation) , hiring execs that will do their bidding in order to maximize the amount of dollars they can s— from Riverbed personnel (furlough and pay reduction), and placing all the burden on sales (not TB of course) and lastly. In this massive f— show, everyone employed has the uphill battle to try and interview out when the perception that riverbed is an old fashion company - who the eff wants tired geezers?!
So should we take it personally? Ummm, yes because they’re potentially ruining lives without knowing it and, even if they did, they wouldn’t care while we do.
Companies do not care about you they are about EBITA and running a profitable company. Riverbed leadership is driven by TB. If TB says Layoffs, then its their company. It's never personal, just business!
The PE owners do not consider the previous measures when it comes to a return on their investment. There will be a layoff if Q3 revenue is off more than an acceptable amount (and it is almost surely off the original goal). If you were here at the time, they did a layoff in July right after announcing the Versa partnership - whole teams wiped out - a spreadsheet exercise in expense management. Nothing will stop the owners from getting their money. The key issue for Riverbed is the stagnant product set - no development of anything new in years, instead they rely on re-casting old products using new demands (SteelHead mobile for remote workers during current crisis). Execs have rentention bonuses - the general employee has nothing, will get less on the exit. Doubtful there is much to salvage unless the product group can actually deliver something.