My favorite part "I kindly request that you refrain from engaging in speculation on social or other media platforms during this sensitive period". Keyword "speculation"... you mean the truth? that you have ruined this company? that the majority of your company thinks you're a joke? I doubt he even gives two rats a$$es about anyone at Viasat... that to me is the saddest part.
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Typically those employees they think are critical get a nice bonus about now.
In this email, the company announces a mass layoff of approximately 800 employees. They claim it's necessary for various reasons, including integrating with another company, addressing satellite issues, and dealing with changes in debt markets. The message is filled with corporate jargon and buzzwords, attempting to justify the decision. The email ends with an attempt at motivating employees to remain dedicated and resilient in the face of these difficult changes, while the underlying tone is one of corporate necessity and a lack of genuine concern for the affected employees.
"We are committed to treating all affected employees with dignity and respect during this transition."
Nothing can be further from reality. We were absolutely not treated with dignity or respect during the layoff process. The layoff discussion was cold and impersonal. We were not allowed to go back to our offices to collect anything (they sent someone else to get anything we needed immediately, and everything else would be shipped to us at a later date). We weren't allowed to retrieve any personal files off of our computers or the network, including industry contact lists. All of our personal effects are being held hostage. It would have been so much nicer if they escorted us to our offices and watched over our shoulders as we collected more than just our immediately necessary personal items. Asking for any of this was answered with "no". Why? "It's policy". I would have expected the VP that was leading the conversation would have had the authority to override policy. There was no consideration for how long we've been with the company or the contributions we made outside of our normal day-to-day responsibilities.
The people performing the layoff discussion didn't know who we were or what we did. I don't even think they cared. We were just a $$$ number at that point... (and a negative number at that at this point). While employed at Viasat I had always felt valued and respected. I had never felt more devalued or disrespected than I did during that final conversation. At that point, not being allowed to retrieve anything personal made me feel more like I was fired rather than laid off. It made me feel like I was a potential criminal, as if I would have tried to steal something or sabotage something. Even though for my entire 20+ year tenure at Viasat I was completely trusted, at this point, they treated me like I was completely untrustworthy.
Viasat has a saying of "do the right thing". Except during the layoff.
This company loves debt, but now it's starting to hurt. Not holding my breath that the stock will ever be worth holding.
"We are committed to treating all affected employees with dignity and respect during this transition. To support those affected, we will provide market competitive separation benefits"
That's the biggest pile of cr-p I've heard yet.
Only reason took this job several yr's ago was due to it's background on taking care of the employee and not layoff till last year so. Dont know what Mark or board was thinking in hiring Guru a fake person to trying to make it CEO and show profit by WFR it's all temporary gain. Also giving control to Inmarsat exe's for GT to reduce duplicate roles WF!!! it's like HOA pay them boss you around. All I got say is Viasat is downhill and had its peak dazs.
Team –
I have some difficult news to share with you today. After careful consideration and comprehensive assessment, we have made the difficult decision to reduce our overall workforce. This will affect approximately 800 employees across various departments, subject to consultation and other processes in relevant locations.
I know this news may come as a shock and cause uncertainty. I want to assure you that we are committed to supporting you and the employees who are affected through this challenging time.
We began notifying affected employees and we are looking to complete a large majority of conversations by close of business today. Conversations occurring after today may be due to availability or to be in accordance with local requirements, which include collective consultation in some locations.
This decision was not taken lightly, and we understand the impact it has on each one of you. We are committed to treating all affected employees with dignity and respect during this transition. To support those affected, we will provide market competitive separation benefits that are aligned with employment laws and market practices in each country.
Let me explain why this decision was necessary. One of the fundamental objectives of the Viasat and Inmarsat transaction was to bring together the best of each company. We are in very attractive and competitive markets, and we aim to be the leader. We must leverage our technologies and organizational structures to present a harmonized set of products, services, distribution, and business models to our target markets. We can enhance our products and services and reach customers via a unified go-to-market approach while reducing operational costs and capital investments.
In particular, we must address the combined effects of these factors:
In June, we welcomed about 1800 legacy Inmarsat employees to Viasat. While there is much to celebrate, we also knew there would be overlap in some roles.
Prior to completing the Inmarsat transaction, we were already evaluating how to streamline Viasat’s operations to reduce costs and speed product developments by leveraging the common elements of our satellite service products with a unified, “single source of truth” data infrastructure. Given the scale with Inmarsat, this transition is even more important. We wanted to understand and take advantage of our combined resources and skills to achieve it. That is why we introduced a new organizational model in August. Leaders have begun rolling out changes in support of this organization for the past few weeks.
We experienced significant anomalies on two new satellites. The ViaSat-3 Americas anomaly affects near-term revenue and earnings. While we can manage the longer-term impact, there is a short-term effect that we must address.
We understood that the Inmarsat acquisition would be financed with a significant amount of debt. The dramatic increase in interest rates in the two years since we agreed on the transaction has fundamentally changed corporate debt markets. Divesting Viasat’s Tactical Data Links business and the underlying strength of our current business has put us in a stronger position than originally anticipated. Still, we must work within the capital markets environment as it is now and generate “free cash flow.” We can do that while still serving our customers and investing for our future — but we must do it within a budget, and on schedule. It’s a challenge we can meet, even with the satellite anomalies.
While these changes are difficult, they will reduce costs, help us go faster, and optimize our offerings to better serve our customers. We have overcome difficult market and economic challenges in the past, through a combination of dealing with the present and planning for the future. That is what we are doing now. While we must reduce roles in some places, there will be new opportunities created in key strategic areas.
The changes we announced today focus our investments on our biggest growth opportunities. We do understand that our success depends on our people — which is what makes today so difficult and painful for all of us.
I encourage you to reach out to your manager with any questions or concerns you may have. Additionally, our Employee Assistance Programs are available to provide support and guidance at any time.
We will host an All Hands meeting on Nov. 3 at 8:30 a.m. PT to discuss the news and any questions you may have. You will receive a calendar invite shortly. On Nov. 8 we’ll hold our Q2 FY24 earnings call, and then on Nov. 9, we’ll hold another All Hands meeting to discuss our financial performance and answer Q+A.
In the meantime, I kindly request that you refrain from engaging in speculation on social or other media platforms during this sensitive period.
Please remember that we are a resilient team, capable of overcoming challenges and adapting to change. Together, we will navigate through this difficult time and emerge stronger. I extend my deepest thanks and gratitude to everyone who has contributed to our company's success thus far, and to all of you who will continue to contribute as we chart our path ahead.
Thank you for your dedication, resilience, and unwavering commitment to our company, our customers, and our partners. Your contributions are truly valued and appreciated.
Guru
You were role rationalized! Whatever the F that means?!
Post it!
Replay from April.
Spill the goods. Let’s get a good laugh!
Viasat, a prominent global communications company, has recently undergone a series of layoffs. It has come to light that the company's approach to downsizing has raised concerns among employees and industry observers. In particular, Viasat has been accused of not cutting underperforming employees (often referred to as "fat") during the layoff process. Instead, the company has targeted valuable workers (referred to as "muscle") and even employees crucial to the company's major projects (referred to as "bone"). This essay will examine the implications of these workforce reductions at Viasat and the potential consequences for the company.
Viasat's approach to downsizing is causing significant unrest among employees. The decision not to eliminate low performers during layoffs has raised questions about the company's priorities. Employees who are not contributing at their best may be adversely affecting overall productivity, leading to concerns about the company's financial health and long-term sustainability. This strategy could also have demoralizing effects on high-performing employees, who might question the fairness of the layoffs.
The layoffs at Viasat have not only spared underperforming individuals but also targeted valuable employees. This approach is counterintuitive, as it jeopardizes the company's retention of skilled workers who play a vital role in its success. By losing valuable employees, Viasat may experience a decline in innovation, quality, and customer satisfaction, all of which are essential for maintaining a competitive edge in the industry.
One of the most alarming aspects of Viasat's layoffs is the removal of employees vital to the company's major projects. These individuals are the backbone of the organization, and their departure may disrupt essential initiatives. Major projects are often drivers of growth and revenue, and their success is closely tied to the expertise and dedication of the employees involved. The decision to cut these employees could have far-reaching consequences for the company's ability to meet its strategic goals.
The consequences of Viasat's approach to layoffs could be severe. With low performers retained and valuable employees removed, the company may face ongoing productivity and quality challenges. Furthermore, the loss of key personnel from major projects could delay or even derail these critical initiatives. The overall impact on the company's reputation and competitiveness in the market could be significant, ultimately affecting shareholder value and investor confidence.
In conclusion, Viasat's strategy of retaining low performers while cutting valuable employees and those vital to major projects raises serious concerns. This approach may undermine the company's long-term prospects and its ability to compete effectively in the global communications industry. To ensure a successful future, Viasat may need to reevaluate its workforce reduction strategy and prioritize retaining its most valuable assets – its skilled and dedicated employees.