A CFO turned CEO only knows numbers. Head counts are numbers. If cost need to decrease, he’ll chop headcounts.
Dude is brought in as a axe-man and not to lead and innovate their way out of this mess that the previous regime got us into.
Nothing good will come out of this except a steady stock price ($104) and chance at a layoff package
Foolish to stay
It's coming but not anytime soon. The financing from BofA for this purchase is in limbo. BofA needs to sell this debt off in pieces but now interest rates are to high. They are in a holding pattern. Also for those who moan about what is happening, go get another gig, simple.
Tom Krause will seek and find more people to cut. It's the only playbook he has to work from (his past experience as a finance leader). And, more to the point, the PE owners need him to help to pay down the debt -- ASAP -- that they used to acquire these companies.
More layoffs are inevitable and unavoidable for this deal to satisfy the PE owners
We've been told there will be no layoffs in customer-facing teams (Sales, Support, Services) for the rest of 2022 while they determine how to fully merge Tibco.
I would estimate the next bloodbath will be early 2023.
Off course their will be more horrific brutal layoffs as the acquisition closes.
So much anguish and agony in the coming months.
During Q4 layoffs there was absolutely zero solidarity amongst colleagues. I even witnessed some that were happy with it all. It seems that this kind of "colleague" is in abundance in this company. Probably goes with the incompetence and the cliques.
That's that but Karma as they say is a bi--h. Let's see how true that is on the next round.
Most tech support is already offshored, so there isn't much there to cut.
Not sure that will be necessary with attrition in the 35-40% range.
I assume there will be some administration type functions where there is overlap with existing Tibco departments.
Isn't that the idea? Offshore as much as possible.
Who are they going to layoff?
Support has been decimated with attrition.
Lay anymore off might aswell offshore support completely.