Thread regarding Citrix Systems Inc. layoffs

Unpopular opinion

Yes, TK and his gang, and the PE crew are a bunch of heartless a$$hol3s who care about nothing but making sure they can maximize their payout when they decide to offload the company.

But that said… You can’t blame them for any of this. They are simply the symptom, the consequences of years of gross mismanagement and incompetence from previous so called leadership and their "yes men". Look at why Citrix ended up being acquired by PE. That’s what and who is to blame. Those who pushed the “cloud only” agenda; those who thought the intelligent workspace was a great idea; those who decided to acquire Wrike; all the people who have been sandbagging because they got too comfortable and think producing mediocre output is ok because they’ve been there a long time; all the unqualified managers and decision makers…

Many good, solid people have been caught as collateral damage over the last 2 years, but there was also A LOT of fat that needed to be trimmed.

To those who are still there, good luck to you!

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| 2271 views | | 4 replies (last January 9, 2025) | Reply
Post ID: @OP+1jh1ptv29

4 replies (most recent on top)

Basically PE bought Citrix with Citrix' own money. The fact that this was even legally allowed is unfathomable.

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Post ID: @hr+1jh1ptv29

The Wrike acquisition was the great ponzi scheme ever concocted. A company with an incomprehensible product entirely incompatible with everything Citrix did and billions of debt used to finance the purchase. Vista then leverage the cash received to buy debt-laden Cirtix.
The problems set in before that though, I would agree with that. Mediocrity set in around 2016 shortly after Elliott waded in.

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Post ID: @gb+1jh1ptv29

Oh, I think we're way beyond cutting fat. The private equity mantra is "let's see just how few employees are needed to make money", followed by "let's see how much money we can extract from this business before we burn it down." You know, if every corporation followed that strategy, half of America would be unemployed.

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Post ID: @cp+1jh1ptv29

Yeah don't bring up Wrike. That definitely was some type of shift money around thing for Vista before trying to acquire Citrix. I mean they never even bothered removing Wrike from their internal PPT slide Deck they showed Citrix after the merger was announced.

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Post ID: @a7+1jh1ptv29

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