I think things are too far gone, and no matter what is done, there's no saving this place.
13 replies (most recent on top)
Funny that so many still have their heads in the sand. Successful businesses run like clocks. Each gear driving the next. Crown has too many teeth(key people) missing on every gear(department) to ever run smooth again. Total rebuild is needed. Look around and you see it in every department on the org chart. Agreed, there is no saving Crown Fiber for sure! Tower maybe minus current leadership.
Re the severence/relo letter. There is no place for CC to sign, you sign it, it's binding unless both parties agree to discard it. If it comes to that, I beg all to please consult an employment law attorney. My foot is already out the door. No matter if SP goes or stays, I am one that will be gone come August 2024.
At this point it wasn’t about saving jobs, it was about comeuppance for the leadership (may I use that term loosely?) of CCI. Don’t fool yourselves thinking Elliott rides upon a white steed—they do not. But they were a black swan that dispensed some karmic doo-doos on the EMT for all the trouble they caused for so many hardworking people. To see JB go from smug Cult Purple leader to humble pie-devourer in one week was worth it all.
I think it's possible that a very downsized version of Crown could be successful. -- Lean & mean. But, I have no confidence in my own future with the company. I have come to terms with losing my job and even have ideas for a different career. I just hope they will hold to the severance agreements we have. Since the company hasn't signed them, I don't know if we can legally hold them to it. Does anyone know?
The giddy sycophants are already missing the Gatorade backwash swapsies in the gym.
One upside for JB is that visiting all the apparent BFFs he had leave the company will take up the first year of retirement
If you wanted JB gone, it's a great day. If you want shares in the company to be worth more in the short term, probably a good day. If you think your long term prospects at this company are better, no matter what dept you are in, I think you are probably mistaken.
If you've been here more than 5 or 6 years you've dealt with mgrs, directors and VPs before they had their titles and know they don't belong in the positions they hold. Not all but easily 95% of them. They're there due to connections and are so intimidated by any outside experience or internal suggestions that they eliminate them. Crown will never be what it could've been w that subculture. Ever.
Agreed. FYI, No company or community is better after Elliott gets involved. Pretty much any story I've read about them winning at a company, you look for that company today and it's not there in any recognizable form.
There may be some bad VPs and Directors at Crown, but there are some great ones too. They have been successfully steering their little piece of the ship and helping us keep our jobs through every storm. So they go through the crucible for a crime they didn't commit? I don't understand how so many people are cheering right now.
https://cwa-union.org/news/releases/first-of-its-kind-report-exposes-hedge-fund-activist-elliott-managements-long-term#:~:text=The%20report%20finds%20that%20Elliott's,hedge%20funds%20as%20cash%20extractors
Calling Elliott's efforts "doomsday" is the wrong way to look at this - because they are simply exposing what everyone already knew was wrong. Looking forward to the next earnings call.
He's The Doomsday Investor, not The New Beginnings Sunshine Investor. Crown as we know it was done the day Elliott got involved.
All cancer treatment starts with removing the malignant tumors first. Starting with the clueless VPs hiding in the ivory towers reviewing data points and never engaging customers. Not one worth a damn. Directors probably all need to be put on remedial plans starting with some case studies covering where they actually delivered any work of this kind before. None of them seem to know where to start without regurgitating the latest outside consultant (also not industry pros) talking points. It stopped being embarrassing 18 months ago and just became a bizzaro world celebrating complete managerial incompetence
Agree. Not to mention that the once great backbone of this company has been reduced to a hot mess, bare bones of chaotic nothing after the last RIF, towers, as it is today, is the absolute worst job that I’ve ever been a part of. I, and everyone left worth a damn, are actively looking for a new opportunity.
The towers customer side is so bad, I can’t imagine customers not also jumping ship on future clown business.
Agreed. This stuff was board approved. It's not like the new guy wasn't in on it. Maybe a pause? Who knows. Only 1200 to 1500 people needed to be towers only.