I will caveat this with the fact it is from the McAfee rumour mill but isn't that where we get our info? However there are cuts coming....again. Do we ever get a break from looking over our shoulders so we can actually work (laser focus.... good one du----s). The companies slated to merge will now stay separate with a criss cross of technologies. The merger geniuses have now figured out what we all knew to begin with that there is too much crossover in technologies and merging will mean losing money. It's like we are being run by a board headed by Donald Trump, Boris Johnson and Logan Roy with all their executive minions too afraid to point out the obvious. Watching money men try and talk about technology is quite nauseating.... keep reading that script buddy.... we believe you know what you are talking about.... buzz word, buzz word, buzz word.... laser focus...XDR....SSE....! My quote is an equation my God that will convince them I am smart...! God save us from these mo--ns.
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I still don't understand why people are surprised by STGs business model. Just look at what they've done in the past. Their primary modus operandi is siphon and shutter. They buy up a company on debt, shift the debt to the bought-company books, then continuously slash costs (read: people) regardless of impact to raise the gross margin as high as possible. Then, charge confiscatory "management" fees to the purchased company, siphoning all those inflated profits off, leaving just enough to minimally service the huge debt they saddled the company with in the first place. This continues (cut more, siphon more, cut more, siphon more, etc.) until the target company is no longer viable to service their massive debt (mainly because their customers have fled and sales are so diminished). At that point, they quickly run through chapter 11, chapter 7, and done.
Some of the employees and former employees seem to think STG is in the technology business, but are just plain bad at it. That isn't the plan at all, nor has it ever been nor ever will be. They're in this to milk the company until she tips over dead, then move on to their next victim.
It's so bad it's laughable.
Top talent is jumping ship.
Leaders talking up the fantastic opportunity.
They must think we're stupid.
Attrition incredibly high.
The yearly review and pay increases will need to be very strong to slow the attrition.
There were layoffs in US for FireEye and McAfee sales from what I heard. The attrit has been happening for months. Good ones leaving for CrowdStrike and PAN. These layoffs will only cause more to leave.
Well it seems that the "wait a while and let people attrit" (which is entirely true) has not fully worked and I have been informed of a new layoff just now in UK and APAC as far as I know... it is clear that when money it is more important that a technology, people goes really low in the rank of importance...
They didn’t just “now figure out”, they’ve known it all along. It’s cheaper for them to wait a while and let people naturally attrit than to lay them all off immediately. Plus, executing a scaled reduction takes time to pull together. They aren’t that d-mb, they know exactly what they are doing - it’s a page out of their playbook.