Seems like general layoffs are happening now at Tibco, according to their page here.
Good luck to all those affected.
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c-suite gone today as predicted
As others have said, this is unfortunately what happens in any merger. And if you read the business news, many tech companies have begun, or are planning for, layoffs.
Starting from the top and flowing down to every level where there is duplication. With business units, they will likely still keep the unified engineering org but even that will see duplication. So 1 CEO, 1 CMO, 1 Chief Revenue officer, 1 HR leader etc. We'll see who survives the ELT musical chairs first. This needs to come quickly so that the remaining leaders can make a final decision on the layers below.
Nothing unusual here, just business.. Cold but true.
Yes. As he stated in his presentation at the GEM, a portion will be cut immediately, another will be offered a chance to be a part of the temporary transition staff — effectively delaying their layoff, and the rest will be safe. The merger will produce duplicate roles in all departments, and of those will need to be resolved. Citrix has around 8000 employees, and Tibco somewhere around 4000. It’s difficult to believe the new company is going to carry 12,000 employees — there’s just no way that makes sense financially. With the recent trend of hefty staff reductions, Krause will also make a major cut.
The deal didn’t close on time so the c-suite and board are being laid off soon will be seeking new opportunities.
Incoming CEO said that everyone would know their standing by the end of the year; whether they’re staying, being let go or if their position would be cut at a later date (transitioning).
Dates were not announced AFAIK, but he was pretty direct about the kinds of roles that were at risk. Those in R&D or aligned with a product were less likely to be affected. IMO, the shift to business units could affect roles as well but that’s more likely to impact upper management than ICs.