Thread regarding Coupa Software layoffs

Singapore how many folks please help I am in mental stress

For severance perspective/comparison, Zendesk (which was acquired by PE) just laid off another 440 people today -- 8% in this second layoff, which was preceded by a 5% layoff 7 months ago. Maybe (???) the large initial cut at Coupa will stave off a second round?? Zendesk employees received 3 months pay, prorated bonuses, and insurance (undisclosed number of months).

If you are in Dublin and were made redundant contact a legal representative today. You have a case.

Apparently people in the Nordics have been told that their role is being "at risk of being redundant". They got a termination document sent to them which the company wants them to sign. If they sign they get 1 month termination time + 1 month severance pay.

I hate to admit it is true. Not sure why I would lie about being made redundant. I really can’t be the only Dublin employee being let go??

If that is true Dublin employee then you can take legal case as they have not used due process and can fined 250,000 euro by the government as well as any legal action you take against them, you will win. Seek legal advice immediately. I highly doubt this is true.

For those saying Ireland isn’t impacted. No it definitely is. I’m a 4 year employee and got my notice (random 1:1 with manager) on Tuesday. I have until the 20th (consultation process) then being made redundant. I can’t be the only Dublin employee being let go, right? :)

Anyone impacted should be CELEBRATING. Coupa was a toxic CULT, not a healthy company. The “sneak attack” of randomly firing people was widespread and bred a culture of mistrust. People were promoted to manager because they were procurement-weanies, not because they had any people skills. Procurement is a notorious hard-a-s business and heartless hard-a-s procurement-weanies ruled the show. Bravo to Thoma Bravo for trying to right the ship. Hopefully, they pared the right people from the c-suite down.

Coupa sucks. I was sacked prior to IPO with the same 1/1 manager/HR sneak attack others have mentioned. Right after receiving a performance based promotion.

What is Coupa's plan for Inspire EMEA? LOL my heart goes out to the folks representing Coupa there.

Have you had any luck revising the DocuSign letter with HR if you noticed mistakes on it?

What's everyone's DocuSign Letter look like? Are you seeing discrepancies with what was offered to you during the exit interview?

Does anyone know what US teams were mostly impacted?

No employees employed in Ireland have been layed off. Some employees managed in Ireland but EMPLOYED in other countries have been layed off. Irish regulations dictate that the company must enter into a 30 day negotiation with government officials before they announce layoffs. That is why it is slightly different to other countries and noone has been laid off as yet.

Not sure why Ireland is such a hot topic here… But yes, I personally know of employees based in Ireland who have been informed of their layoff. Why would Ireland be any different to the UK or especially Germany - the 1 country in Europe where it is legally really really really hard to do layoffs.

Sorry for all of you - I was at Coupa in the very very early days and the rot started from within way back then. The culture was always awful and held up the very worst examples of being "hard core". The bro culture was real, the dozens of VPs never cared as long as they were getting there. Coupa has a particularly strong hold on folks' minds; it is oddly cult-like. There are many much more functional, healthy companies to work for.

Whoever wears the crown rules the kingdom. Be careful of who you crown.

Not true about Ireland! What are you talking about. No Irish layoffs so far

Laid off employees in Ireland have been informed - no 30 days wait!!!

However, do not trust that there won’t be more layoffs / “normal” terminations down the line. I am certain they expect another 10% or more to leave on their own now. And if that doesn’t happen, normal terminations will be the next way to get rid of you without redundancy package.

Checked with HR - no voluntary redundancy possible! So don’t even try with your manager it will leave a sour taste.

sorry to hear you were impacted, but why is is "wild" to only get the june vest? They already accelerated nearly 50% of the first year and it's not like those impacted will be around in september for the next vest.

givin those impacted the June vests is respectful and the decent thing to do.

reality is that all tech employees are gambling when they join companies whose comp plans are based in part on RSUs.

Likewise, with the post below, I'm trying to make sure of the same on the Severance packages. Looking for law firms right now.

In relation to severance, if someone from outside the US can comment on their package that would be helpful. I am trying to understand if they will just use local regulations to apply minimum possible or are the offering the same package globally. Thank you

My heart goes out to people on.an H1b. I know there is a short window to find a job or you have to leave the country .I suggest reaching out to everyone in your network, posting on LinkedIn, reach out to recruiting agencies, pick up any job for now that'll sponsor your visa, target larger companies.

Good luck

Severance Details
3 months pay
5 months medical
Accelerated June rsu cash vest

Everyone got the same

For non-impacted US employees, do we have anyone in HR we can contact if we have questions? I would love to get answers if we have options for a voluntary severance without going through my supporting manager.

I didn't get an email. Do I relax and move on? I'm in Dublin, i don't understand if I am safe or they are doing the 30day delay thing? Does anyone in Dublin know? No job losses at all in Dublin so we are all safe or what? Please if anyone knows, update here. I don't trust the managers who say business as usual, we are safe, i don't trust them.

Anyone in APAC got impacted please connect with me as I am lost what to do next , need mental support to overcome this

DO NOT EVER BE SCARED.

it’s not personal - this is an accounting exercise - NOT a review of your performance.

This “shock” will develop over time into, anger, shame, etc…accept the feelings as they come. It’s totally normal.

Remember you only need one job. Not 10. There are jobs out there. You may not find the perfect next job…stepping stone jobs once or twice in your life are allowed….

Everyone I know who went through this was better afterwards. So will you.

Does anyone know the severance offered?

I'm impacted in sales in year 3 after 2 at club

Any news on the severance. How many months are we getting?

If you are one of from APAC (ANZ / Singapore) please ping here , I am impacted

For those that did not get impacted by this first round of layoffs, do not think for a second that your job is safe. TB is in the business of making profit and they will do whatever they need to make it happen. This is my prediction for what will happen within the next 3 months or so:

• effective immediately, they will expect everyone to pick up the pace from those who left, meaning they will overwork you. This may start without you noticing it, by leadership asking you to do "one more thing", but then will become the norm
• the work you do will be very closed watched, and if performance isn't up to their standards, they will help "counsel you out"
• they will likely outsource functions to countries where labor is cheaper to offset some cost
• round 2 will likely take place within 3-6 months, and likely the payout will not be as generous as the first

My suggestion: It's time to start preparing to leave on your own terms. Take vacation for as long as it's allowed and use the time to focus on yourself and your next move. Prepare your resume and start looking for better opportunities. It may take time until you find something, but it's better to start now on your terms than when it's dictated by a "reduction in workforce".

You can talk about your severance. Please do not post information if you're not knowledgeable.

https://www.cnn.com/2023/02/22/success/severance-agreements-rule-change-from-nlrb/index.html

I know we can’t talk about severance packages but do we have the right to challenge the package given to us? Or we just take what’s offered? Living in the Bay Area with kids, the cash package offered is not excellent

I was not let go and was reassured by my VP I would not be, but even with that I could not sleep after that email. I ended up waking at 3AM and just had an awful feeling knowing what happened to my friends. Was down all day today. I can't imagine being on the wrong end of this.

I'm so sorry to all of those who were laid off. If you were at Coupa, you are a bright individual. I know you will land on your feet. Take some time if you can, and be patient.

Good luck to everyone.

So sorry for everyone who got impacted today. While the next few months might be hard, the good news is that we are out of sh---y and cluster fu-k situation.

In reflecting on Coupa, it appears that the company has faced challenges on a number of fronts. Firstly, Coupa’s software is bad. It's unusual for a Software as a Service (SaaS) company to operate on a single tenant database but coupa does that and this slows down the innovation velocity .

Secondly, they seemed to have faced difficulty in managing acquisitions, particularly after branching into unrelated areas such as treasury management with the acquisition of Bellin, and direct procurement with the purchase of Llamasoft.

Thirdly, their compensation model, constructed heavily on Restricted Stock Units (RSUs), proved a double-edged sword. When their stock was on the rise, it was an attractive proposition for top sales talent from companies like SAP and Oracle. However, once the stock began to decline, it seemed to lose its appeal for high-performing individuals. It's worth noting that Steve Winter, ex CRO, and Todd Ford, ex CFO, and Ravi Thakur, ex head of coupa pay, managed to time their exit well. They saw the writing on the wall. Even Rob, minted while the ride was good.

Furthermore, look at the senior management team and it is clear that they lack deep experience within the procurement or payment industry. Their learning seems to be predominantly sourced from Coupa, through a process of trial and error. This may account for some difficulties faced during acquisitions and the development of Coupa Pay.

Interestingly, it seems that the company's former head, Rob, believed he was making a wise move by selling to a private equity investor, potentially avoiding a strategic buyout. Yet, the new ownership under Thoma Bravo soon perceived the shortcomings in Rob's leadership and vision, leading to his departure.

The future for Coupa under Thoma Bravo’s stewardship is yet to be determined. Perhaps Bravo is of the opinion that Coupa can mirror the experience of JDA - a company they purchased and then sold to another private equity firm after rigorous cost-cutting. That strategy worked because JDA’s software is hard to replace as it is focused on logistics and direct procurement. However, Coupa’s is in the indirect side of procurement and easy to replace coupa. Thoma Bravo is going to have a hard time with this company. The best they can do is take pieces of anaplan, coupa and batton line and stich them together and the find a leader like Rob who can craft a lofty vision and sell it to stupid public investors.

A Harvard case study can be written on this entire coupa saga.

Tbh this was more than expected, the company is 18 years old and was never profitable. The ones that started in Coupa a few years back got extraordinary benefits from the stock, the newbies were not lucky at all. In my opinion, despite of some terrible mgmt people I think the company was quite great, they treated fairly the people that worked hard. But less drama guys, it's just a job, if you are healthy is way more important.

Same thing as another poster. Was let go earlier. Walked into what was a normal 1:1 with manager and was sneak attacked by HR and that was it. Like other person mentioned. Best thing that happened to me. Now I'm not worried today.

Dear [Your Name],

Unfortunately, your role is impacted by the workforce changes occurring around the company.

Here’s what to expect:

You’ll receive a calendar invite from one of your senior leaders with the subject, “Meeting,” where we’ll detail next steps.

In that meeting, we’ll need to confirm your personal email address to ensure you receive separation materials.

Your access to company-sensitive systems will be restricted; however, you will still have access to your Google drive and G-suite, MyCoupa, MyHR, and other day-to-day productivity apps through your last day of employment.

Based on company protocol, physical access also will be limited. Should you need access to an office, please contact HR.

Our focus now is ensuring that you’re treated fairly as you depart and support you as you bridge to your next career opportunity. Losing a job is extraordinarily hard. That’s why we want to provide you with as much support as possible. In the materials to follow, you’ll see separation package details. This includes a cash severance payment, paid health benefits where applicable, partial cash-award equity acceleration, and extended access to the Employee Assistance Program.

To keep an open line of communication, we set up region-specific help desks staffed by the People team to address your questions or concerns. Contact information will be in those materials, as well.

You made a difference and your contributions are appreciated. You helped to make this a more vibrant community and more successful company. You’ll always be a part of the Coupa story and a valuable member of the Coupa alumni.

Thank you, again.

• Charles