Revenue flat. Seeking “outside help” to cut costs. What does that sound like to you?
117 replies (most recent on top)
"VRBPs will cost more than layoffs"
How so?
“ That's your experience but I have had several years with no raise and no bonus in the same year and also many years with bonus but no raise in the same year.”
Think about that for a minute.
“ Company man coming with “just quit” in 3…2…1… 😂”
Dude is living rent free in your head.
A hire consultant will most likely recommend layoffs to cut the most costs. VRBPs will cost more than layoffs so layoffs will be better for the owners but VRBPs will be better for the employees, especially for those wanting to leave but still waiting.
"probably never been the case of no raise and no bonus."
That's your experience but I have had several years with no raise and no bonus in the same year and also many years with bonus but no raise in the same year.
"...The SAS CEO does not spend money to no purpose. If he’s hiring “outside help”, that means he expects recommendations that he can use...."
Disagree. Lots of Kabuki in the Potemkin villages of SAS. Optics would be the only purpose.
who is the outside help? Elon Musk?
"no raise"
I think I recall having no raise or bonus (or profit sharing) in the 2008 financial crisis. Or maybe it was very limited, can no longer remember. Whatever it was, we all felt lucky to stay employed, and at a great place to work on top of it. If I were still there, I'd feel lucky to take a good VRBP about now as part of that cost cutting. Good luck to all.
Agreed. The SAS CEO does not spend money to no purpose. If he’s hiring “outside help”, that means he expects recommendations that he can use.
A consultant will need time to study the company and make those recommendations. So people have time to make plans, and the CEO has given fair warning.
Good luck to all.
“Revenue flat. Seeking “outside help” to cut costs. What does that sound like to you?”
Unfortunately, it sounds like the movie “Office Space.” Cue the Bobs.
As many have said, hope for the best and prepare for the worst. This retiree sends best wishes to my friends still at SAS during these “interesting times.” I hope you come through this better and stronger.
They will need to either do a VRBP or layoffs to get the reluctant to leave. 0 bonus and 0 raise won't do it.
“A great start is to offer a VRBP to employees who are ready to leave and just waiting on an incentive”
Company man coming with “just quit” in 3…2…1… 😂
“A great start is to offer a VRBP to employees who are ready to leave and just waiting on an incentive”
Well said. That’s what I’m waiting for.
Just because a paid consultant recommends cuts, it does not mean that those cuts will be implemented by company leadership. I hope that leadership follows the recommendations to make a leaner, more profitable SAS. A great start is to offer a VRBP to employees who are ready to leave and just waiting on an incentive.
No worries. JMP and the Art Department will remain safe in their cozy cocoon of privilege.
“Seeking outside help to cut costs -- that means they'll hire outside consultants to analyze operations.”
Yes. Outside consultants have expertise in making changes, are more objective, and thereby minimize the morale hit of cutting costs.
A kickoff is normally a time to boost morale, not to deliver such a message. IMO the Big Guy is doing a decent thing, giving a warning.
"Been there a long time and have have never had a year with no raise and bonus."
No longer there, but I recall at least 3 years with no raise over my 25+ year career there. I I don't recall ever getting no bonus (certainly there were many years with a very small bonus) ... so I concur that probably never been the case of no raise and no bonus.
“ It sounds like there will be no raises, no bonuses and more layoffs coming.”
Didn’t sound like that at all. You may be right but that is not what was said.
Been there a long time and have have never had a year with no raise and bonus. So,e years leaner than others but never goose eggs.
https://youtube.com/shorts/JvoEQJZzVuo?si=BW65suRkf5feBkRb
https://youtu.be/3sYUthjyTb8
It sounds like there will be no raises, no bonuses and more layoffs coming.
https://www.youtube.com/watch?v=YExiDiVPbzw
https://www.youtube.com/watch?v=BTdOHBIppx8
For those of us playing "Update Bingo" at home, did they say "Pipeline is full" or "Push back IPO"? I need one of those for Bingo!
The crazy thing is, absolutely no one asked you
Right, but like I said, if you [did] ask me, that’s what I would say.
Reading comprehension much?
I wonder what Bob and Bob are up to nowadays?
@ae+1jj760v28 "If you ask me he seemed a little POed."
The crazy thing is, absolutely no one asked you
@ae+1jj760v28 He absolutely did not seem pi---d off. Why would you circulate such BS?
“What specifically have they said about "seeking outside help?"”
I also heard the Big Guy say that. Nothing more specific, but specific enough. If you ask me he seemed a little POed.
It's clear that non-SAS employees are lurking this sight to get all the "juicy details". I never understand why people come here to air dirty laundry
What specifically have they said about "seeking outside help?"
Seeking outside help to cut costs -- that means they'll hire outside consultants to analyze operations. The recommendations will be promptly ignored and forgotten.
Alternatively, they'll outsource more functions, like Sales. The Art Department remains safe.
Ah, the annual "we missed sales targets (again) but have a strong pipeline" meeting, where only one side of the balance sheet is discussed.
Does this mean an interim CEO to perform the cutting?
I’m surprised they don’t refocus all efforts to just concentrate on their 4 core industries. The other industries are just a distraction and dilute the resources. I’d love to see SAS start re-building market share in their key industries by going all in on what they do best!
What about profit?
Sounds like the 1999 movie "Office Space"