While decisions to do a RIF never come easily, the shortfall that we needed to make up that was created (directly or indirectly) by Executive leadership has a wide variety of corrective actions to take, What percentage of a cut to Mike’s’ annual 11m+ salary could have made up the difference? It must be nice to line your pockets off the backs of others and let them suffer the consequences of your poor decisions. Shame on you, Mike, shame on you, Tony. Something tells me you’ll sleep just fine in one of your many homes.
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With the current c level and CEO in particular, stick a fork in this company. It's done. There was no justification, ZERO, for them to cash-in like that. Friggin disgusting.
Its no doubt unfortunate for all those folks that have been affected in some way by this. This was clearly a cost cutting move in anticipation of a Private Equity takeover. There is no faster way to make a company look more profitable than by an RIF. Unfortunately when done in this manner where it was not a performance based RIF and many top end talent were cut, now what happens is you have lowered costs by removing senior tenured high salary folks but now created a scenario where many people will be absolutely overwhelmed at their jobs now. There will be team leads and managers who now take on parts of or complete other teams. These people will not receive a pay bump, or a title bump to compensate them right now. They will now be left to take on 2x as much work learn entire new fields and verticals on the fly all the while becoming vastly over worked in short order. RIF are a needed tool for companies to help trim in areas of underperformance and trim legit fat from books. When used appropriately they work help to lean out a company and help make that company better. This is not what this RIF was. This was done to prop the company bottom line for wall street and investors. This particular RIF was deep and not all that well thought through. Managers did not even know parts of their teams would be dismantled. It was handled vastly unprofessionally via email in most instances. It will create a productivity issue now within the company and have the exact opposite affect as folks can only do so much. So when clients become angry and the brain trust that would normally have handled those clients is now RIF'd how do you expect those clients to react. There will not be enough working hours for all of those that are left to learn the nuances of other parts of the business and intricacies of clients in time to salvage client relationships. Angry clients will search out other vendors. Then there goes some more revenue that if unreplaced by a new client or add on services to other clients creates a dip. What happens if its more than one client. Many small dips will create a ripple that will cause additional RIF.
If you are still employed and you are a manager, director or lead of anyone with direct reports. Ask yourself did you have any say in what happened if your team was affected. Are you now saddled with additional direct reports and head count. Are you now tasked with doing more in your job than the day you took your position. If so have you been given just compensation and title recognition for your new additional head counts and work load? Ask yourself, before you took on all this new work for free were you receiving appropriate compensation already? Did your company pay to retain you and your talent over the years? Do you receive stock grants like the executive team that are unrestricted and vast? If they were not offering proper raises every year, if they did not give you a pay and title bump to add head count and responsibility and if this last round of layoffs was not performance based. What is the tie to the company? Why work in a company that does not pay more for more duties, why work for a company that does not reward performance rather they lay off high performers with stellar reviews for 20+ years?
Being stuck in a job because of comfort, monetary reasons or because you need the insurance can be a major driver to not move on. It happens to all of us at some point. At this stage folks its time to dust off those resumes if you have not in years and pursue employment somewhere better. These days there are many great companies. BLKB use to be that company that folks wanted to work for. Once you start making folks take higher titles and more head count with no compensation packages to reflect that and once you RIF for bottom line dollars vs performance you no longer deserve your hard working employees.
Yes its comfortable safe and easy to stay put. Maybe see the direction of the company and decide to be proactive. Go search out new great employment that truly values you and then get back into a good comfort zone space at a new company on your own terms.
I can tell you that if you have to do it after a RIF it will be far more painful and uncomfortable than if you do it. If you do it after an RIF you will be left with a small amount of time before a severance runs out and before your insurance cost you 5x as much because of cobra costs. It will cause pain and stress throughout you and your families lives. You may not get the next best job because pressure sets in the last week of severance to just take something.
Don't do this to yourselves. Take your awesome, fantastic, rock star, underappreciated, likely unrewarded talents somewhere they belong. Then give BLKB the 2 week heave hoe on your terms and make then struggle to fill a role. Do not allow them to control your life. The indicators are there. They have been RIFing for quite some time. They cannot reach their lofty stated goals in 2023 without another RIF. Don't say you didn't see the writing on the wall when it happens. Take a permanent marker out and mark my words now and use it as motivation. They are not done laying off in 2023
Yall trying to shame ceos. You would have done the same if u were a ceo