From my perspective in accounting, this keeps happening. They release senior staff to balance the budget, but the underlying strategic errors remain. In my twenty years, I have never witnessed this leading to genuine recovery. It only demoralizes the teams left behind to pick up the pieces with less support.
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@qt the executives are traded like sports players, blunt fact. They arrive and seal some deal with their prior employer or a company their frat buddies own, then they move on.
Competence? That is what the $55,000 staffers are for.
All these executives are not needed, but keep feeding and playing the song that the board of directors like to hear. They don't care how many families they impact, as long they receive their money keep reducing the USA workforce. The service that these offshore contractors are providing to customers is beyond poor. They never have answers, their knowledge gap is abysmal, people and animals making noises in the background are not acceptable to customers paying $2k a month. The bank industry wouldn't put up with that.
Pretty much spot on the last decade or so I’ve seen this company. The idea that business will fund what they need. We spend every few years relearning some sh-t every few years. The internal competition to save a penny for dollar foolish strategy, will bring this company down.
This is the strategy of nearly every major company---especially large defense companies i.e. the tragedy of Boeing. Bell Textron did the same thing years ago. Laid off the majority of senior engineers OR the ones who were almost senior level.
Can anyone name a company that succeeds when their only strategy is cost cutting?
Yep. That’s why people believe there is no way leaders can be this stupid. It’s so obvious that the more you cut and reorganize, the worse things become due to stress, low moral, anxiety (am I next?).
After about the fourth reorganization where everything just gets worse, you lose the faith of your employees. After about a year at this company everyone realized the town halls are complete BS because the words they say sound great but the actions they take are the complete opposite. Do that three or four times and people stop believing you.
Steve Hensley saying “we are an American company” over and over falls on deaf ears as his senior leaders push a 75/25 offshoring goal to all directors and managers so that 75% of staff are in India.
The good employees leave because there is barely any movement in salary, they continue to cut benefits year over year (bravo awards, 401k match, health insurance premium and deductibles going up), they can’t make an impact without jumping through literally 6 months worth of hoops for even the simplest change, and because they get burned out with all this ritualistic stuff being the sole focus rather than… you know, actually doing the work.
The cuts are just the cherry on top. It leaves people in fear and fear is not a great motivator. Positive incentives are proven to be the most effective motivators but don’t tell the executive team that. They seem to be su-k in 1970s and 80s Jack Welsh leadership styles.
Anyways, it’s clear to me that lead ship doesn’t know what they are doing. They think the best way forward is to cut and offshore which reduces costs in the short term while ultimately sc--wing them in the next few years (at least on the tech side). I think they have a misconception that they can just hire and army of people in India to solve any problem and that the number of people will make up for the lack of skill. That’s like baking a cake at 900 degrees because you want it done twice as fast but I digress.
I have no hope this company turns it around. The people who remain are the biggest a-s kissers who tow the toxic culture line that they have brought about. I fear those people now outnumber people who actually care about the work we are doing and therefore change will never happen. Best to jump ship while it is still your choice to do so.