Did any incompetent management get the axe or was it all low level serfs?
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Citrix marketing is a joke. One of their public facing ads had a ‘stock’ image that they didn’t pay to remove. The ad looked like trash.
" P J continues to enjoy his stock vesting even after being pushed out of CPO role"
That's because he's a f*cking executive... Search google for "VP, Chief Digital Risk Officer - Citrix"
Base salary well over $300k PLUS stock AND bonus...
They still need the Directors, VP etc.
I am 110% sure they will be cut lose, but they are needed now to clean house.
When the trimming is done it will be their turn.
cuts ? are you sure ? P J continues to enjoy his stock vesting even after being pushed out of CPO role :
"Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
In connection with the Restructuring Program, Paul J. Hough will transition from serving as Executive Vice President and Chief Product Officer of the Company to serving as an advisor to the Company’s Chief Executive Officer effective on November 15, 2021. As part of this transition, on November 12, 2021, the Company entered into an amendment to the existing Executive Agreement with Mr. Hough pursuant to which Mr. Hough will remain entitled to certain payments and accelerated vesting of outstanding equity awards upon termination of his employment with the Company under certain circumstances as provided in the Executive Agreement. "
https://www.sec.gov/ix?doc=/Archives/edgar/data/0000877890/000119312521328882/d260145d8k.htm
"Did any incompetent management get the axe ..."
Yes, I did, but in all fairness, Citrix Management above me created an environment where incompetence could flourish. I was truly a product of my environment and HR allowed me to be my authentic self. Any competent manager would have left when Juan left for MFST or Patrick for OutSystems. Citrix had never lacked great leadership. The problem had more to do with not recognizing it. Thank goodness they fixed the glitch with me and the company now has a solid plan moving forward. I totally accept my role in this restructuring and understand, It was me, not you. Best of luck to all impacted, those who worked tirelessly, delivered time and time again, and were rewarded with a package. And those of you who did the same but are now an even smaller percentage of great contributors being lead by the same leadership that made me what I am today.
The most dangerous irony is, people are angry with others because of their own incompetence. - Amit Kalantri,
Since VP's and those making millions will be manning the phones and not laid off.
Was SDRs, inside sales, renewals or channels sales hit? Who? What areas?
Who got canned from IT?
Yes, Marketing and IT. Internal IT system needed fixing, and great products could not be marketed well. Hurray, leaders found the main bottlenecks.
All fixed now. Rejoice, rejuvenate, relish!
Oh yeah, marketing seems to be the main issue otherwise our strategy, products, and engineering are all rock solid.
IT lost at least one of each.
Yes - several VPs, directors and managers in marketing were cut.