Thread regarding Citrix Systems Inc. layoffs

It's not up to Citrix ELT anymore

Citrix management is no longer in charge. It is the PE now. I don't think this is about dragging out anything. It is a new very brutal regime and the goal is to extract as much money as possible from the business.

People need to be aware of this. Every step that is taken in the following months will be about cutting costs so that the new owner can get the most out of the sale. This is not a defense of the ELT, just a note that things have shifted and we have a new entity in charge that is deciding our fate.

by Anonymous
| 2361 views | | 6 replies (last October 4, 2022) | Reply
Post ID: @OP+1j0RJe71
Comment! It's anonymous!

6 replies (most recent on top)

"Greed, for lack of a better word, is good."...
Absolute GREED is ...

by Anonymous
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Post ID: @2cgy+1j0RJe71

As the saying goes, this does appear like a rearrangement of the chairs on the top deck of the Titanic. The PE owners have chosen the new ELT on the basis that they can be trusted to follow directions.

Once they've successfully extracted their cash from the consolidation deal, there will be little value left for those that stay to participate in the final chapter of this fiasco

by Anonymous
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Post ID: @1gfc+1j0RJe71

Agreed, mgmt has been very specific with teams that we must go to office starting tomorrow with suggestions to sit in areas visible to the dept VP which I find rather strange.

by Anonymous
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Post ID: @1exn+1j0RJe71

If the Citrix ELT and their reports had done their jobs well, the company would not be in this situation.

Even the current leaders were part of this so unless they have gotten new religion, not clear that know how to make any material change nor have the wherewithal to do it. They are placeholders until the software is carved out and sold in pieces, after which they will be dismissed, but paid out for their abattoir work.

by Anonymous
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Post ID: @tpk+1j0RJe71

Agreed. The bloodletting will begin tomorrow, I cannot see how they put it off. They have already publicly stated that they will lay off around 1000 people. No need to put it off.

Additionally they have publicly stated that they need to dip into the one billion credit line for around 200 million to pay for those layoffs. Amazing how cash strapped the new corporation is already.

by Anonymous
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Post ID: @jzg+1j0RJe71

The idea that they want to drag this out as long as possible to see who quits (and therefore doesn't get severance) isn't realistic. They want to slash payroll as quickly as is practical. Also, keeping people around longer than necessary means not only paying salaries, but paying for benefits. December 1 is a new fiscal year for them, and a LOT is going to happen before that date.

I personally think a lot is going to happen this week. That is an opinion only, but it makes sense to me.

by Anonymous
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Post ID: @vhg+1j0RJe71

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