no merit increase this year (announced via email)... seems they are following other companies (Microsoft) lead with this. sad to see F5 go downhill like this.
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FLD (François Locoh-Donou) needs to go....now ! He is easily one of the most divisive CEO's in the high-tech publicly-traded companies. He has been highly successful in focusing on the WRONG things (ESG, DEI) and is completely unaware (or unwilling to acknowledge) that he is quickly unraveling the business. He 100% does not have a care in the world for his employees......his focus is on becoming the "CEO of the Century" and having his Board of Directors named as the "Best Modern Board" (only because of their DEI and ESG work...nothing to do with growing the business). Find someone at F5 that thinks FLD and his management team are doing a great job, and you have found yourself an a-s-kisser or an id--t (or both). A message to current employees....run, don't walk away from F5 Networks as quickly as you can !
Last time we received a zero annual increase FLD got a 12% pay increase (thru RSUs). All he cares about is being named CEO of the year and pushing his woke agenda that has crippled the company. Stock is 1/2 of what it was when he took over. My whole team is out there looking. But he does not care. Cause he'll replace us with lower cost folks. We laid off over 600 people and then opened up 250 job reqs. Most outside the US at a lower cost. Now that is what he calls 'Human First'.... Please FLD, just go away....Please...
Yet another indication that it's best to look for a job NOW if you're still on the payroll. As one let go in April, the signs were there, but the Kool-Aid still tasted good. Today, that is no longer true. Update that resume, friends, be prepared and already active for whatever comes next.
EXTERNALLY: “In an environment that remains challenged by macroeconomic uncertainty, our team is executing well, delivering third-quarter revenue at the midpoint of our guidance range and earnings per share well above the high end of our guidance range,” said François Locoh-Donou, F5’s President and CEO.
INTERNALLY: "...belt-tightening measures...". "...this is not a reflection on you...", "...each of you continues to bring your best self to F5..."
Something doesn't add up, does it?
Nothing like ki-ling off any turn-around in progress. Morale level now zero.
This is how you get people who have other options to quit. Those people who worked so hard last year just to have their (future) income slashed. Good luck to ya
Maybe FLD should reduce the exec comp down to $1 for the 2024 FY. This would help with attrition that is expected to hit the company. The employee morale is super low and some high profile names have departed with more to come......
Morale is SO low across the company, I've never seen it like this. People are frustrated and lashing out at each other at least in my org. This will not help the culture that's for sure.
"Ridiculously easy" way to demotivate already demotivated employees. By the way, don't forget your obligatory harassment and diversity training! That's all that we need right now!