Understandably, the frustration is mounting high. There is a ton of unfairness, uncertainty, fear. But let us put our feelings aside and start thinking clearly.
ELT is utterly oblivious. The reality and the ELT are total strangers these days. But it makes no difference; they will jump the ship once the deal closes; the PEs will replace them. Indeed, more layoffs will come, and loads of positions will be redundant upon the merger - for example, HR, IT, facilities, etc. Cost cuts are on their way too. The Santa Clara office is doomed; RDU and FTL will survive. Many positions will move offshore. They openly admit their preference of having 50% of the workforce offshore in India. The PEs will spin-off Wrike and ShareFile. These two do not fit nicely with Titrix (is Cibco better, you recon?). Please read the latest CTXS annual report; it notes the business unit only in the context of the possible spin-off. My guess is the PEs will continue to own them, but the possibility of being sold is here too.
Nevertheless, loathe ELT all you want, but a single truth is present in their words. The PEs are investing loads and loads of money in this deal. Loads and loads of BORROWED money. They are not doing this to waste them, ki-l the company, and not merely milk it. The cash Citrix generates today will take a long time to get returns on their 16B investment. The only way for the PEs to make profits is to grow the company. Admittedly, through pains, but to grow it nevertheless. If you survive all the turmoil and pains, you will get some parts of these profits if you are critical enough for them to retain you.
5 replies (most recent on top)
7 years? Is this supposed to impress anyone?
The amount of people posting on LinkedIn their exit of Citrix should be embarrassing for HR. No way the attrition is similar to other companies. So glad everyone is landing in great companies that will treat you so much better than Citrix.
CTXS not "almost doubled" but tripled in value between 2014 and 2020. Without any Vista involvement
"Considered" vs actually sold is a big difference
There is nothing for middle class employees in this - go by what they do not what they say
They've been doing it with not much success, haven't they? Vista acquired Tibco for $4.3 billion in 2014. Vista considered selling Tibco for $7.5 billion or more in 2021. Vista almost doubled the company value in less than seven years. Not enough success for you?
Or don't waste years of your life hoping you are critical for them. They can cut you off at any time and are not interested in sharing profits - look at PRSUs for how profits will be shared. Tibco itself is a good example of PEs "growing" an asset - they've been doing it since 2014 with not much success. Citrix acquisition is a customer base acquisition, not employees