TK blew it by being so cynical about WFH and hard-assed about RTO. It has lowered morale and reduced productivity. Is that what Vista wants in their $16B investment? A company where the employees have low morale and low productivity, which will lead to lower profits. Vista wants a CEO in one of their companies that is losing them money? Since they only care about money, why would they want this CEO to remain? So they can lose more money?
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Vista equity doesn’t wanna get their hand dirty and use Tom do their work .vista equity Thanos post on Twitter like he is some kind of savior and saving world while he ruin all the employees life every time he buys a company.
Two separate issues: who owns the loan debt, versus who is managing the repayment of that debt. For sure, all the key players in this PE deal are focused on CSG cost reduction.
"Griftrix", LOL
Vista didn't won't lose any money because their investment is small.
https://prospect.org/power/griftrix-citrix-systems-debt-deal-private-equity/
Banks will lose money.
Mr. Complete Transparency has said not one word to the company as a whole in nearly two months, except for his e-mail about resistance to RTO.
RTO is not the main source of low morale. It is the lack of communication, the crassness and lack of basic professional decency with which Citrix employees are being treated by the new leaders (mainly from Tibco). Disgraceful behaviour. I hope to be in the next layoff round. I do not want to work for or with these people.
Yeah, it's odd Vista and the other owners don' t seem to care that TK has generated so much vitriol from CSG employees. You'd think they would not consider it acceptable that their investment is being managed that way. On some level, they must understand that as much as TK driving employees to leave improves their bottom line, really only the employees can make their investment a success--but not if they're all gone!
I expect that Vista regrets its $16B investment. They underestimated the depth of the dysfunctionality at Citrix. Now they're paying the price for that huge mistake, in the same way that CTXS shareholders have already. RTO or a return to WFH won't change that reality. There are no winners in this situation. It's a loss for everyone involved.
RTO isn't the only source of low morale and low productivity at CSG. The remaining employees know this is a company that has been permanently damaged by a long history of mismanagement and is now in perpetual decline. This fact is known to Vista as well.
Also, Krause is one of many American old-school 'command and control' business leaders that don't trust their employees. Wall Street is full of CEOs who still believe that RTO is the only way to ensure productivity from employees. They will all be proven wrong, in time.