Looks like a 25% RIF with reorg. Not seeing how financials will improve over year. Will continue to lower expectations as costs are not being addressed just headcount reduction. Stock will never see north of $60 again until profits improve, p/e is sky high. Little backlog and poor sales pipeline on products. Product development will now stop at worst time. CEO and founder will likely see his company sold off in pieces at this point. A lot of senior management needed to go some time ago after Baxter fell through. Need a miracle.
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More layoffs coming.
I heard it was done over a zoom call. Employees will continue to work through the end of the year. I guess that is a good thing to help get people through the holidays. But working doesn't really go in line with the severance packages they claimed to be offering. Or is there both?
9% involuntary, +90 headcount voluntary.
I’ve heard marketing, training, and a few management positions so far
Layoffs are notorious for Omnicell. Typically Omnicell doesn't take into consideration who or what roles are being let go and ultimately that impact to their business or revenue. Thumbs down.
Any updates on impact yet? I think I’m hearing some marketing heard yesterday.
Anyone aware of which departments and other reorganization plan?