I don't think I've ever been as anxious about layoffs as I am now. How safe do you feel in your position? I hope that I will survive these cuts.
14 replies (most recent on top)
The unfortunate but sad truth is it's not just Citrix or CSG. Tech in general is laying off people by the gallons. However, publicly traded companies have a cleaner layoff process than what i can see from PE. Each month that drags on i'm getting a hot cup of coffee thrown in my chest, limbs and face.
I have not left on my own until they tell me it's time. I hate looking for a new job, at least not like this. I will ride it out i don't know what feel, if i stay i'm stupid or if I go i'm still stupid because of layoffs in general coming from the tech sector. Bad times fellow Citrites.
For a lot of people this is their first PE rodeo. I can see why most would not have anticipated a company actively stating they are only going to focus on ~1600 customers and "ignore" the rest, and the subsequent drop in headcount that will require.
Anyway, this has been one he-l of a ride, I'm just sitting back and watching this drama unfold.
Didnt everyone that is riding this out plan for this?
For example, I made an active decsion last spring (>9months ago) to ride it out and see if I get severance instead of looking for a job back then.
From 400000 customers to 1600 .., you get it now ? The rest will be handled by partners … TK doesn’t need employees for those.
How were you informed? What BU/location? Some info will be great OP.
That's rediculous, since 70% is extremely high. Anyone with a biz school background knows that. Anything that's profitable stays or gets sold to someone else.
SD-WAN was never profitable, thus it was ki---d off. Stuff like ShareFile is solid margin but not really critical so it'll be sold off. Low margin stuff like GoTo was sold off, and that's the model.
No business shuts down things that are profitable - unless it's choking higher profits from similar product aspects. There's none of that with the Citrix/Tibco
For TK profitable is 70% profit or more
He will keep business that meets that criteria and ki-l the rest …
He has tools to help .. price increases, extorsions….
The company might be smaller, but not the revenue. Deduct from rev what parts they sell off of course, but for the sake of argument, they're not going to try and ki-l off anything that's profitable, and for that which is profitable, they're not going to try and reduce revs from those product lines.
You said, "They're not going to reduce a $3 billion + business down to a few hundred million $ business."
In the absence of a shared forward-looking plan, it's anyone's guess what the end goal is, and therefore the size of CSG once the downsizing is complete. Definitely much smaller.
They're not going to reduce a $3 billion + business down to a few hundred million $ business. What the changes mean is that for SMB and smaller Commercial customers, they won't have much of a direct touch sales team anymore. Actually, SMB hasn't had that in quite a few years. The customers themselves won't be abandoned - that would be stupid. Some may drop off as their contracts expire, but most will re-up to some degree.
yeah but TK wants to address a much smaller market, retaining only the top customers that will bring him enough cash, and abandoning the majority. so if your skeleton crew supports 100 customers today, it may only support 1-5 going forward... you see skeleton, he sees fat my friend. he doesn't give a s**t on the sort of SLA you're taking about. could even be the opposite ... the more customers are in trouble the more they need help ... giving TK extra power to force them pay a premium for it.
I'm in support and not worried at all. We've been running on a fu----g skeleton crew for 2.5 years. I can't imagine any department being able to function with any less staff then they do now. He-l as is we can't maintain any kind of SLA like we used to.
Move to Colorado and chill with nature’s ganja, my friend.
I’m in the same boat. The company I work for just closed down two of their facilities and around 300+ employees were laid off. Not feeling safe and hoping I’m not cut. Keeping my budget strict and holding onto as much of my savings as I can waiting for the ball to drop. Remember to keep you resume up to date!