Those folks pushed out under Jared must have been "upsetting his MoJo"...
21 replies (most recent on top)
But the campus and perks…unbeatable
* SAS IPO-Ready Update Process *
Please insert Disk 37 into drive A: and press "Enter"...
Increasing profit per employee...Will that include getting rid of 'friends and family' whose costs far exceed their value?
Nope! Those folks will get remain and they'll be promoted.
Becoming "IPO-ready" is logical. The market for IPOs is terrible right now. It may continue poor in '24.
So SAS is getting its books in order, increasing profit-per-employee, and otherwise making itself ready -- for '24, or '25, or whenever the market recovers.
These actions also make the company more attractive to any private buyer. But that market is poor now also.
So probably most remaining employees have a couple of years to prepare for change.
There's an article floating around out there where JG says "SAS will be IPO-ready" by 2024.
"IPO-ready" sounds like companies marketing "Windows 11-ready" machines. Sure, it runs Windows 10 now, but when Windows 11 finally comes out, it will meet the minimum specifications to install it.
In other words, they'll be ready for an IPO by 2024. That doesn't mean they'll do it, but they'll have the option to if and when others decide they want that 'feature'.
Regarding IPO chatter, one thing I have noticed is that they are dropping more ambiguous IPO goal dates.
There wont be layoffs (except there are), SAS isnt for sale (until it is)...all these statements are temporary! Is it just me or has the IPO chatter died down? I guess we will see if the CEO mentions it tomorrow in his webcast.
There probably won't be any more early retirement packages offered in the U.S....
Unless, of course, you're one of those 'special' people. In those cases, they'll make an exception for you. It will be all hush-hush, of course, so don't tell anyone.
"We're so sorry this happened...(big empathetic smile)... We didn't see it coming (you know we are incompetent so we sacrificed you to save ourselves...)."
"We'll all miss you! Please keep in touch, and call me if you need anything!
(Hurry along now... I need to go to a meeting and steal some ideas from some college students so I can survive a bit longer)."
"Bye-eeeee!!!!" (pageant wave with big sad smile)
I was part of the RIF in March. Was told then that there would be no more early retirement benefit packages offered in the US. But that was said last month. It could change tomorrow.
Two VPs under Jared now have been pushed to leave with a package or be demoted. Most recent was in Visual Analytics where the VP has now been demoted to individual contributor and a senior director taking a package instead of the demotion.
I don't have any insight beyond the email he sent out, but I know that 584 employees were affected between all the countries. This is easy to verify by using the inside SAS employee listing, which allows you to break it down by country.
Demoting and pushing out VP's and possibly Senior Directors? What departments?
Argentina, Chile, Peru, Croatia, Cyprus, Egypt, Greece, Hungary, Luxembourg, Morocco, Nigeria, Serbia, Slovak Republic, Slovenia, Indonesia
Can someone share which overseas offices were closed?
Demoting and pushing out VPs today. senior directors are next it seems. Re-orgs across the company. No end in sight right now.
Awwww there's still people here who believe there will be an ipo. That's so cute.
Also, SAS just closed several non US offices, according the the email we just got.
On the second and third Friday of each month select individuals will quietly receive their notices and will "disappear". When the quarter ends, others will be "retired" and moved along. Maybe there will be a party with cake and drinks. But then again, maybe not.
But those are guesses. What actually happens could be vastly different. Welcome to a "fear-based culture".
Any word on early retirement packages/offerings pre IPO?
If so, any info on when?