Multiple layoffs in North America - sales and engineering. Whole teams let go.
32 replies (most recent on top)
Resmed is hiring back a lot of the people they laid off!! I know of 5 so far, including a janitor.
Among all that been let go, they decided to keep the useless BIDS/DIVERSITY team that brings no good or benefits. Not sure how many of the employees felt that BIDS/DIVERSITY helps them? And because of profits, ResMed did everything they could and is moving things to India by building up and expanding offices over there. Does Mick really know how to drive the business build by his father? India is cheap, but quality wise? Wait until you work with them.
I had no idea this page is moderated, wasn't even aware it has hundreds of other forums similar to this one. I've just scrolled to their ToS page and.tags about the site rules, it turns out it doesn't have that many rules.
It basically comes down to this - post gets deleted if it contains:
- names, PII (it's ok to name and criticize public figures like c-suits and comms, not ok to name a coworker or direct manager)
- foul language, personal insults
- impersonating someone in a misleading manner
- racism, derogatory speech towards groups or individuals
- threats towards people or property
Think that’s it.
check the site rules in the footer - no impersonating. also, avoid using too many f-words and personal insults, site mods allow a curse or two, but don't tolerate f-bo--s.
Everyone ready for BIDS and ResmedDay??? It's easy to be diverse when you can just layoff everyone! Yippee!
Much of the DHT "leadership" team is insular, inexperienced, and myopic. In the past 2-3 years I've witnessed many talented colleagues either leave or get let go, and the organization has spiraled into deceit and anarchy as a result. Mick & the CEO-Ops team are responsible for allowing this to happen by not holding DHT accountable.
It's a shame that ResMed has so much opportunity, pays so well, and yet brings in visionless buffoons to lead the organization(s).
Without a meaningful change in the leadership approach and/or structure, ResMed (DHT specifically) can expect their track record of poor performance to continue.
The severance offered to me was fair, and I'm grateful that they are paying me to do what I should have done a long time ago - looking for a rewarding career at a well-managed company.
I will miss the relationships that I worked so hard to build, but I know that this is for the best. ResMed is a siren song which graciously not longer has a hold on me.
I'm loving the Mick Farrell and Urvashi comments. Comical yet true. This was abrupt! How was it communicated to people that were let go? What were they told? What is their severance package? I lost a key collaborator on a project and had none of the things he was owning on the project. No notice, so I'm left hanging.
Basically what happened is over the past 3 months, Mick lost 3-4 Million in his last 12 month's compensation + millions more in stocks he already owns, so he decided to cut payroll costs by $30-50 million by laying off 500 human beings that were actually extremely valuable to ResMed in an attempt to recover money for himself... Extremely selfish move, and newsflash! The ResMed Stock Price is only worse.... I distrust the leadership greatly now.
I totally disagree with this short-term, short-sited leadership. Mick said in the investor call that "we're investing in other areas to focus our growth." That's not true. Don't believe him. I'm a witness that ResMed is only cutting costs and shrinking growth even with key, important, and high-priority projects.
Investors shouldn't believe Mick that he's investing in growth. He's only attempting to invest in his compensation and short-term share price (which is failing). Strategically, ResMed needs to ignore share price for a bit, and focus on growth and the long term and invest in that. That is not happening and this isn't a good long-term play. This move is setting us back by more than 1 year with significant projects/programs. It's unfortunate, a BIG MISTAKE, and it's not even working out in the short term... which let's be real. The current pattern means if the share price goes down more, ResMed leadership will just cut more people.
Very sad day, it came as a shock and there was no rhyme or reason to who was let go, award winners were let go while brand new people stayed. Wishing everyone continued success and happiness.
For the people who were laid off, which teams were you in?
ResMed is a hypocritical greedy company. Brightree was led by a group of incompetent leaders from the CEO on down that have left in the last 8 months after fostering a horrible culture and chasing off the best people. The amount of money Resmed and Brightree spend on lavish trips for executives and customers, boasting about billion dollar quarters at the expense of a competitors recall is disgraceful. Employees received 1% to 3% raises while the CEO of Resmed is awarded 19% equating to over $14M in compensation annually. They are an overvalued Manufacturing company that tricked wall street into thinking they are a large SAAS business ($500M compared to $3.5B) creating an overvalued stock…..as it’s plummeted to reality the last quarter. 500+ employees being fired without any notice is indicative of the corporate greed they foster. All divisions will experience layoffs over the next few weeks, it’s only just begun.
To the post "I cannot understand why the BIDS/DEI people weren’t let go (who don’t generate revenue) vs some of those on the sales side (who do generate revenue). Also seems like a couple folks in upper management should’ve been let go".... I can understand frustrations but in situations like this, why make a comment to say it should be someone else and not me. Personally, I wouldn't want to see anyone being let go but guess what, this sh*t is normal. Happens every where every other year and probably happens at a more regular cadence in other firms.
Urvashi Tyagi,
https://www.medicaldesignandoutsourcing.com/resmed-ceo-pay-executive-compensation-mick-farrell/
What do you say about this?
Because people prefer to leave companies on their own terms when taking on new more rewarding jobs somewhere else, and not to lose the job one day out of the blue with all the stress and financial burden associated with it.
If ResMed is such a terrible place, why are people so upset about having to leave? Decisions were made in a fair and equitable way that took into consideration lots of different criteria. ResMed cares about its people and no decision was made lightly.
My husband was laid off as well and as far as I can see, there was no WARN notice put out. Don’t they have to if they lay off more than 50 people?
I cannot understand why the BIDS/DEI people weren’t let go (who don’t generate revenue) vs some of those on the sales side (who do generate revenue). Also seems like a couple folks in upper management should’ve been let go
I'm so sorry to hear about everyone who's been affected. Have no doubts you were all wonderful employees to the company and Resmed is worse off for losing you.
As someone at Resmed who (so far) hasn't been affected and relatively new to the company, would anyone be able to share some info on what it involved? How did the process unfold and what it been like after being notified? Sorry I'm so new to this stuff but feel like if its coming for me, at least knowing what it will be like might help me tackle it better if/when it does
I can speak from the sales side of the business. The same people get promoted over and over with huge pay increases. Then some less than stellar individuals decided that the old profitable sales model wasn’t good enough. They restructured everything. Hired a bunch of kids right out of college and took major responsibilities out of the hands of the seasoned sales people. At the same time took advantage of the Phillips recall and started price gouging customers. Then they promote some lady into the President of Sales position and give her $400,000 in relocation expenses. Plus I heard all the executives recently received a 19% pay increase. Just unbelievable. Hey Resmed…if it ain’t broke DON’T fix it. Shame on you for screwing people over like this
Mass layoff 15 days after CEO gets huge pay increase and as the company ends FY23Q4 on a 23% YoY revenue growth and 15% of net income.
https://www.medicaldesignandoutsourcing.com/resmed-ceo-pay-executive-compensation-mick-farrell/
This is corporate america
500 people, a lot from the people team (mainly Talent Acquisition in North America), Engineering team, and Sales teams were impacted.
I think the official email came from Chief People Lawyer!
This is the most bs layoff I've ever seen in any company. They made huge profit thanks to the Phillips recall, but still panic because the stock fell after last call. A couple weeks ago a CTO went on a Q&A and said they will not let go people, and now here we are. Worse? I've been working in a project myself for a year and at 90% done, now they let me go, and the whole project goes to waste because no one know the code base. Good luck whoever still there. Time to refresh your resume. I thought this was the career of my life but from their point of view you are no more than a name and cost.
It was mentioned in previous all-hands that decision to reduce duplication in projects and functions would not be top-down driven, but rather examined locally within/between teams and business to see what makes sense for the market. I suppose that didn't work.
Which official email (who was the sender) mentioned 5% of workforce was cut ?
and where does the 500 people figure come from ?
Curious
Didn’t see this coming. I thought we where profitable and all feedback was positive……… also for all the great perks they give us employees, the severance package is a joke. Who ever is left, create a union.
I too, was impacted. It was the same, strange mandatory meeting and I’m apart of the People team. Just know a lot of these decisions to which I was not a part of but I was impacted and some of my team was, my own direct reports, all this wasn’t necessarily driven down to your leaders, so as you give yourself grace, please do that for them as well. It’s hard for all of us and I truly hope, selfishly as I find my own new opportunity, I can also bring all of the amazing talent across ResMed SaaS and beyond with me. Just. Keep doing amazing work to impact patients and their outcomes and continue on with that mission, even if it’s not with ResMed. Find your own mission to spark change. Former TA leader with purpose, 2023
Very clear they decided to lay off many of those in positions with higher pay rates. Many of them being long time loyal employees to the company. I am disgusted by what’s happened. I lost a few colleagues today and I am not doing ok about it. I’m in shock and my heart is very heavy for them. They did not deserve this. “More changes to come”. Whose going to be next?
5% off work force is let go as per the official email.
There is no loyalty in ResMed. Managers come and go and the leadership is poor, with upward mobility being difficult. If you think your job is secure, check again. So disappointing.
I along with 5-7 close colleagues I know got laid off.was very sudden and abrupt!
500 people
even I was impacted by today's layoff, I was in engineering side. but I have no other info it was so abrupt, do you know how big is this layoff ? how many people were let off?
Which teams? I know they let go of the manager that was heading their flagship cloud product. Seems drastic.