It's the third week of Oct. What updates do we have?
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Lol yeah human first. Was a great humane way of laying off people through a prerecorded meeting then kicking everyone out of the meeting.
Human first, what a joke .
https://www.thelayoff.com/post/@aoxp+1p4WV2Pl
Someone posted that they got impacted in the above link.
What does “ FLD's usual email update” mean?
FLD's usual email update has been pushed out by a week so maybe hear something this week. If not, no smoke no fire...
"It's the third week - what news?"
The news is that F5 is announcing financial results for Q4 2023 on Tuesday. Two weeks later, employees are required to join Zoom calls. As before, employees will hear a "slightly" different narrative than investors.
https://www.nasdaq.com/articles/f5-ffiv-to-report-q4-earnings%3a-key-factors-to-consider
"SVPs are preparing for a 225-400 RIF in digital sales, Nginx and customer success next week. Mainly across the Americas"
And you're basing that in what? Are you an SVP? Did you overhear something?
You speak with such authority but provide no reason to believe you. Are you guessing or do you actually know something?
This thread is too much😂, you think there are 200-400 heads in “ digital sales, Nginx and customer success”?
How do you know it’s 225-400?
that's brutal, so now 20% of the workforce go in 2 years...potentially.
from what I hear CS grew too quickly. F5 is not a SW company so they should ditch CS altogether apart from the larger accounts. its like they think...oh...we gonna be a set company, so lets build a CS team before we need it.....erm....F5 is still 80% HW........and that's the problem.
SVPs are preparing for a 225-400 RIF in digital sales, Nginx and customer success next week. Mainly across the Americas
The last 600+ RIF was done in that crazy 2 day “You’ll get an email invite” shaking everyone in the company waiting & watching their inbox because in the previous smaller RIF. It was leaked a week earlier from some honest mid & mid upper level management with scruples. So they locked it down so almost no one was aware of the RIF.
Not the best way to do it by putting fear into the entire company. I would think they’ve had time to figure out a better way by now for the “right” way to handle a RIF.
But in the last month or so, hiring in core groups has and is still rising within the US & not only overseas for lower wages. Which is a good sign there isn’t an ongoing hard push to move jobs overseas.
If there even is a RIF, and I’m not convinced, I suspect it would indeed be from acquisitions like Shape.
The only positive in my 10 years with F5, (if there is any RIF at all). Is that unlike many companies, F5 is traditionally very generous with severance to long time employees. A large sum was paid out in the last RIF for severance as reported on earnings.
I wouldn’t want to be let go…. But at least I’m confident that F5 wouldn’t change their severance policy, that at least gives those let go enough to be able to get by until finding a new position.
And most within the company have skills in high demand areas making them very attractive to other companies.
I personally don’t expect a RIF. But won’t know for certain until a day or two before the earnings call. And if there is one, I wouldn’t expect it to be large.
During the earnings call it was announced that there would be a layoff the following day. At abt 948am the next day 620+ of us got a zoom invite that included crocodile tears of the "leaders" announcing fabricated reasons for the terminations. Two weeks later pictures of the ELT in front of the opening of the new engineering center in India are posted.
And now Mika is leaving… seems like a fair amount of turnover on the ELT…
I believe last time they announced it a day or two before the earnings announcement.
Hopefully they're more respectful and don't replay the worlds most awkward 5 minute recording that started late, was colder than cold and ended with everyone sitting there wondering if it was actually over.
The worst part was the utter lack of trust of those getting laid off. They were told they would only have access to mail for a few hours and within about 5 minutes of the call everything went down and you couldn't write up and share any status on your projects so basically you walked away and those left scrambling to cover were in even worse shape. It's amazing how quickly the human first mantra goes out the door. If there are employees that you don't trust that much then why are they working for your company in the first place? It kind of contradicts the whole human first mentality.
If anything happens, I'm sure they'll take that "Human First" approach.
wait until the earnings call on Thursday....