Welp, the dreaded email we were all waiting for has finally come. Anyone receive an email yet?
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Can someone post the actual severance email for those that got cut?
So I'm not the only one that finds the culture toxic?
Need to know if there is a voluntary lay off option, congrats to those who got out of this he-l hole with that somewhat decent severance package.
I was hit earlier this year just before the TB deal was finalised. No warning and completely unexpected as I was supposed to be having a normal regular catch up with my manager. In hindsight, turned out to be the best thing Coupa did for me. One of the worst companies I've worked for with a poor culture and management. I'm much happier with my new company with a much better work ethic and culture.
Dear Colleagues,
For several months, the executive team has thoughtfully shaped our operating plan for 2023 and the years ahead. As everyone understands, Coupa faces a macro environment that’s shifted from “growth at all costs” to one that demands a balance between mature growth and profitability.
With that in mind, we’ve aligned on a company reset strategy to operate more efficiently while still delivering meaningful value and ensuring customer success. That includes greater alignment across business objectives, reducing duplication of effort, examining our real-estate footprint, and going forward with a smaller workforce.
These workforce choices are not made lightly, nor are the reductions performance-based. They are based on position overlap and duplication and in line with the company’s near-term business needs. Through this action, we will move forward with a leaner, flatter structure, with fewer layers and leaders closer to the business. We’re also taking steps to expand manager span of control, which should result in tighter organizational alignment, greater autonomy for teams, and faster decision making.
Some will ask why changes weren’t announced when the Thoma Bravo partnership was finalized in late February. The short answer: We aren’t doing this because of new ownership; we’re doing this to put Coupa on a stronger footing for long-term success. The team has worked thoughtfully to make the best decisions for the company, always guided by our core values.
Waiting to learn what this means for you is understandably stressful. To share information as quickly as possible, everyone impacted by the workforce reduction will receive an email from me within the next hour. However, because of local regulations, it will take additional time to notify and consult with impacted employees in certain countries (namely, Ireland, China, Denmark, the Netherlands, South Africa, Sweden, Norway, the UAE, and the UK). If you do not receive this email in the next hour, then your role has not been impacted in this action.
Here’s what to expect:
Following that email notification, senior leaders will schedule 1:1 conversations as quickly as possible with impacted team members. In that conversation, we’ll share specifics on timing and support.
For the most part, those conversations should occur during the next two days. However, as noted above, in some countries the process will take longer because of local regulations.
Department leaders will bring their teams together next week to discuss the changes, and we’ll talk about it during our June 8 all-company meeting.
To those leaving Coupa, thank you for the work you’ve done on behalf of our company and our community. You’ve made a tremendous difference and will be missed.
To those continuing with us, we look forward to partnering with you in this next chapter for the company. We remain very optimistic about Coupa’s future and the opportunities we have to help organizations make every dollar matter.
- Charles
Charles Goodman
Interim CEO & Chairman of the Board
I was really hoping for a voluntary option as well, no sense of staying around waiting for round 2,3 and 4. If anyone hears of this as an option please update this thread of who to contact.
amazing that a Rob B could not control his own internal spend + lousy acquisitions that diluted the stock. The Finance and M&A team should be flogged for days!
Layoffs-As-A-Service
Coupa Cares <3
The Yankees sponsorship was class act, talk about a steak with sizzle! How else was I supposed to get my Don Mattingly rookie card autographed?
Hey at least we sponsor the World Champion New York Yankees
https://twitter.com/TheLayoff/status/1663962934786260992
beautifying for investors.
Any news about Ireland? I haven't heard about anyone here.
About 500 people affected is what I have heard.
Nobody should be surprised. Coupa was a bloated place for years with lots of marketing fluff without much substance. The tanking stock price, acquisition by TB and departure of Rob should have been clear signs that the party was over quite a while ago.
APAC all impacted
I heard 30% overall but so many rumours right now. The silence from the top is only making a bad situation worse. Do you think they will let us know who was impacted or will we only find out when we go looking for that person!
How many in Germany are gone? I heard it's more than 40%...
The classical 'right-sizing' activity of an investor is happening, folks. They made the acquisition, did their analysis and deep-dive into Coupa operations, applied some comparison level with different companies out of their existing portfolio, and now we see the 'results'. I am not surprised. All regions are affected, no line of business is excepted.
Can someone sense the total number of employees impacted (e.g. percentage of Coupa staff)?
RIP Coupa... This is sad. We were so cool for so long, now we're just a cog in the SV lame machine.
Are they planning on shutting our access down today? If not are we expected to work? Hope not
Awaiting talking to ‘senior
Leadership’ about the package. I don’t know what they will offer but should we go directly to HR for negotiation? I am positive the package will be very lean.
FYI - G&A is also Impacted
Coupa Inspire indeed
What does the severance package look like, is it based on tenure? Is there room for negotiations is you're not happy with what they offered?
Workplace Experience Managers: 3 from NALA and 4 from EMEA. Probably tied to the real estate strategy changes
Unlikely any talks with Irish officials have taken place. This would be very public knowledge. Fully expect that it's will happen very soon. Ask Irish management to keep you informed of any developments. Also f**k Rob sailing away on his yacht ⛵.
Regarding “Ireland won't hear for 30 days for legal reasons, they must enter talks with government when doing mass layoffs. ”
These layoffs didn’t happen over night, they’ve been working on this for months. Likely the talks with govt happened long ago.
Anyone know how may EMs in Value sevices fot laid off?
Anyone hear if you can volunteer to be included in this round of layoffs if you weren't affected? I don't trust that this will be the only round and would rather rip the bandaid off if the severence is decent.
Someone said an entire value serices team is gone, which team?
No, not everyone is laid off in the UK. Not sure how many, but definitely a good amount of people.
And they have informed people in Ireland too. No 30 day waiting period. Just heard from someone there, did it the same way as in the UK.
To UK info poster. Do you mean everyone in UK is being laid off?
Re: Irish situation, they must consult with government officials for 30 days before they can make decision to lay off. So no they can't tell Irish staff anything until they do that.
They have informed everyone in UK - everyone with a 15 minute meeting in their GCal is impacted… It was a “notice” and all official papers coming in 2-3 weeks. I am wondering about Ireland - is that true with 30 days wait? Or would they still inform the Irish workforce the same as they did with the guys in UK?
Yup got it . How many have been laid off? Can we negotiate severance ?
Guys, there is an amazing French company, leader in all analysts reports and different spend management categories…we are hiring globally, different roles, if you know someone in the US with a strong background in alliances management, reach out to the AMER Alliances leader there (based in NYC) -> you‘ll find him on LinkedIn ;)
Some engineers and one EM from Treasury (EU) affected, more details about numbers will share in the evening townhall meeting!!! (4.30 cet).
German layoffs: PMs, Engineering,
Ireland won't hear for 30 days for legal reasons, they must enter talks with government when doing mass layoffs. Must be the same issue for a few other counties mentioned too.
For those laid off, how long have you worked here? What dept? Please give details if you can. So sorry for you all.
The June 20 RSU cash grants will be paid to people who got laid off