To some, this recent round of layoffs came as no surprise. Years of poor perfomance and terrible senior leadership had the writing on the walls. Its very sad to see top talent being let go, while below average senior leaders keep their high salary jobs.
With all the issues Five9 is facing now, will an FCC inquiry about their less than ethical practices around scam callers and fraud be the final nail in the coffin?
CPO doesn’t know how to speak. He speaks in a Harassing way. I don’t know where he has come from and why. Very sad to see the affairs at Five9. Third wave of layoffs soon everyone.
The fruit loop
Chief people officer passes se…l remarks. He has no sense. I am going to complain about him. I have decided the same. Keeping quiet doesn’t help. These guys may come up with third round of layoff soon. The grapevine is that they are firing Acqueon Team in India and US. A good thing because Five 9 wants to outsource and that is not good. There was no need to buy Acqueon.
Five9 Chief People Officer is worst of all. She has no spine. Speaks nothing useful and is a pleaser of The CEO so he has hired her the third time. Such an incompetent HR Head who couldn’t even implement a fair performance appraisal process and continue to allow the let go of people without any review and ensure no bias decision making. What is the use of HR if people cannot get justice and fair play?
Inside news is that the new CPO is a fruit loop. Completely unaware of the products or the industry. This one is another gift from Mike.
You might want to find out who all was let go before saying no top performers were let go. If you dig into the nuts and bolts there were definite elements of the success of Five9 let go. Leaving several members of senior leadership scratching their heads when they found out.
The issue of friends and family favoritism extends beyond just the Sales org. In Production Engineering, power is heavily centralized around Panos Kozanian, who has strategically positioned his former Cisco associates (aging folks) into key roles. This has created an echo chamber where dissent is minimal and alignment with his views is guaranteed.
Panos operates more like a snake oil salesman than a technical leader. His race car analogy is not only flawed but completely detached from the realities of running a modern, efficient PE organization. Relying on a network of aging allies to drive innovation and scale is a recipe for stagnation, not progress.
The truth is 95% of current employees would like to see a new EXTERNAL CEO brought in and changes made to the business STAT. The 5% who don't are the recipients of nepotism and the old family and friends favoritism (i.e. your name is Burkland, Tuckness, Dignan, Biers....). Nobody is paying attention, and those that do, fear speaking up. Culture has been going downhill fast, and it's about to get worse.
Almost everyone that I work with deserves to be here. Including those who were laid off.
Hopefully the street and board see these comments and realize that the company is only being hindered by leadership.
Five9 consists of (mostly) good people and good intentions. Unfortunately, they have an and old and tired regime.
Wow! These guys are leeches
What’s crazy is presidents club is still a go for next year and the execs all got pay raises this year per SEC filings.
This might be a nice addition to Mike for the waste hotline.
http://pdf.secdatabase.com/304/0001288847-25-000004.pdf Danny Boy getting $500 an hour consulting fees plus continuing service so all of his RSUs continue to vest.
If they had colapsed reporting structures and let 10 EVPs go, no layoffs at the working level would have been needed. CEO is grossly incompetent and corrupt.
It’s hard - there are good senior leaders, mine is amazing - she pulled us together, explained why and what we can do to help those who have been impacted. She truly cares- and there are others who show no remorse as talked about. I struggle but believe in my leader.
Five9 will be just fine and in my opinion, needed to pull off the band aid.
Let some of the old guard go, Ari, Dan etc who held the company back for years
Then we can kick on with new leadership, fresh perspective and fresh ideas.
In Japan, it's not uncommon for CEOs to take pay cuts to demonstrate responsibility and avoid layoffs during tough times, as seen with Nintendo's Satoru Iwata and more recently with Nomura Holdings and Nissan
Maybe Five9 leadership can learn something about responsibility and ownership :)
It is the end for Five9 if there isn't a change of leadership very quickly. The people that got the company to $1B are not competent to get it to $2B. The cost of sales is huge - no focus on back office automation or sales compensation efficiencies means they can trim the staff all they want - the structure of the company is not designed for scale. Top level leadership is responsible for that - they refused to do anything about it. Investor see right through it hence the stock price (before the Trump effect).
Don’t be hyperbolic.
Sounds like you’re su-king on some sour grapes
No top performers have been let go, top performers are the ones driving growth and pushing the company forwards with the right attitude
Agree that some changes at C-Level need to happen now, But this latest shakeout is part of that plan
Cannot keep doing the same things and expect different results