Do you think there will be more layoffs?
Signs there will be = no merit increase, high profile names are leaving, RTO policy (possibly an attempt to weed out people for the next round) ... anything else?
Signs there won't be = F5 is opening more jobs/requisitions ... anything else?
What do you all think?
"in addition to organizational changes they will hire more directors and above" - All signs in the sky tell this is true. Why on earth does a group of three experienced software engineers need one "agile" scrum master, an agile coach and one project manager? There is nothing like getting paid for shifting Jira tickets between swimlanes, creating an information mess and introducing daily distractions from engineering work focused on business outcomes.
This profound perception that engineers know nothing about business, finances, marketing and customer needs and need to focus only on "just ba----g the keyboard" is sickening. It's a perfect example of Taylorism applied in knowledge companies and seeing engineering work as a production line in a toy factory.
Reports coming in more layoffs in the very near future for F5, in addition to organizational changes they will hire more directors and above. Their management and directors are considered to be more integral to the company's operations and success, and therefore are more essential to keep on board. They are looking to cut costs and believe that it can do so more effectively by laying off employees at lower levels of the organization.
F5 layoffs will continue with an organization that has no strategy. At first, the acquisitions seemed very smart to do so. 4-years later, it's showing that the acquisitions were made to ensure the ELT has jobs! I'm still a bit puzzled at some of those acquisitions...
2-major layoffs in the last 24-months.
It's going to be an a la carte sales team. We will sell every product!
"unless the BOD wakes up (pun intended)"
Did you watch the interview FLD did with the Chairman of BOD recently? I'd say after watching that interview, the likelihood of them replacing FLD is ZERO. And I'm certain the timing of that interview was very selectively chosen for now. There's a strategy alright. It's just FLD's and the rest of the ELT's personal strategy. And it continues to pay them huge dividends.
I worked at F5 for over 15 years, and watched FLD (CEO) destroy the business, the culture, and the company morale since he became CEO. He is only focused on DEI (Diversity, Equity, and Inclusion) at the expense of everything else. He has zero grasp on where the security-market is headed....and his competitors are now being invited in to discuss options at many, many, many F5 install accounts. The writing is on the wall. F5 is on a fast decline.....unless the BOD wakes up (pun intended) and replaces FLD with a CEO who focuses on the BUSINESS and not social-issues (that alienate 50% of your employees and 50% of your customers......just an id--t move by a CEO).
what's interesting is that F5 is now not a HW company, its not a SW company, its a Services company. 52% of revenue is services, it has a sh-t sales force that can only shift boxes. if you look at FLD's tenure, lots of promised, stock price went above 200 once, then canned, 5 year plan to be a $5b company, its at 3b after 4 years. market cap on stock has not increased in almost 15 years, acquisitions have failed and whoever is the CFO should volunteer to walk the plank. FLD needs to of and they need a seasoned vet at the helm to rescue this sinking ship...bring back macadam.
Earnings are positive that results in no merit increases.
ELT is paying off the F5 gambling debts for NGINX, Shape Security and Volterra. Unfortunately, the employees end up paying for this....
Employees should expect to see another round of layoffs coming. It's the only way to reduce costs. The no merit increases, comp/mbo changes is a way for them to push people out without having to go through another massive layoff.
Short answer is - Highly probable!
The theme is aligning to reduce costs in any capacity.
Have seen some long-time F5'ers recently resign based on the company direction.
The job market is pretty darn good right now with many hiring. Keep those resumes polished and start to open dialogue with potential companies. With end of fiscal year right around the corner, you never know what will happen.
They follow the trend of shifting the workforce from the US and Europe to cheaper countries like India. No longer than a week after the last layoffs, they celebrated opening a new office in India and announced 250+ new jobs. Go figure! It is puzzling that they do not invest in projects that bring money to the business. The current picture looks like so many teams are understaffed, sickening fake "agile" "processes", and far too many useless middle managers. Do top-level executives really believe that employees buy the BS they write in emails and talk during all-hands meetings? They insult experienced employees, treating them like kids. FLD lost all respect long ago.
a small one like most every October, yes
no merit increase could be two things, either the fact is you can't lay 10% of org off then give the rest raises and the fact that it's a way to naturally push people out who want to
RSUs are staying, apparently
yes, hiring is OK... but less than a year ago