Karma!
Carlos "Captain Hazelwood" the CEO is wrecking our ship. Toss him overboard!
2 replies (most recent on top)
Well goodie for you. I hope their are thousands and thousands and thousands of more layoffs. Eye for an eye! We all go blind. I say fire everyone. Let it burn down just like Portland. Bitter, you bet the hell I am. And hope it happens to everyone who had any hand in allowing it to happen! Let it burn!
Yes, the stock is down, however, is this due to bad management or simply a market correction?
If you look at ADP's stock history the stock used to trade in a range from maybe the mid $30s to the high 70s. It might go down to$25 after a split and then rise to around $80, at which point it would split again. So, you may not want to keep thinking about recent high price. It may have been overvalued and could be returning to the correct valuation.
That said, yes there have been bad decisions. I was one who was replaced with lower cost and less experienced talent, so I can speak with knowledge. I did not feel this was fair, and, as attributed in previous articles, was due to ADP attempting to please the market and replace higher priced employees. This was foolish from a service standpoint, but perhaps part of what the market approved of, which is why the stock rose, and may have been over valued. Covad, and it's effect on business and business prospects is more likely a key factor. In no way am I defending Carlos, or ADP's actions. I just wanted to attempt to try and balance the conversation. I hope there are no further layoffs for a good long time. This would help improve service and raise the market's opinion of ADP and it's employees.