Thread regarding VISA Inc. layoffs

Failure in leadership

The company’s decision to conduct layoffs across multiple organizations at different times reveals a glaring lack of coordination and a profound sense of chaos within the upper management. This prolonged and disjointed approach to workforce reduction has not only exacerbated uncertainty among employees but has also signaled a broader failure in leadership's ability to effectively manage the crisis.

The staggered nature of the layoffs, happening over extended periods and affecting various departments, has created an atmosphere of constant anxiety and instability. Employees are left in a perpetual state of unease, never knowing when the next wave might hit or which teams might be affected. This environment is particularly harmful to engineers and other key staff who thrive on stability to drive innovation and productivity. The lack of clear communication and consistent decision-making from the leadership has eroded trust and confidence, leaving employees disillusioned and disengaged.

As a result, the ongoing uncertainty has led to a significant decline in morale. Engineers and other employees, who once took pride in their work and felt secure in their roles, are now preoccupied with concerns about job security. This distraction is inevitably leading to a drop in motivation, as employees struggle to remain focused and committed to their projects amidst the looming threat of layoffs. The creative energy and innovative spirit that are essential for the company’s growth are being stifled by this constant undercurrent of fear and insecurity.

I hope @3slq+1tX5qUYt doesn't mind me reposting this, but this needed to be on top for everybody to see. Perfectly said.

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| 1621 views | | 6 replies (last September 10, 2024) | Reply
Post ID: @OP+1u0qmXf2

6 replies (most recent on top)

Weak management is rewarded because they are the most easily manipulated and will just do what they are told. While there may be "fat" in places, they are not getting someone to look at the actual operating efficiency and eliminate waste, they are instead using weak managers to just get rid of people who make too much money, aren't liked because they speak up or don't bend to whatever groupthink is currently popular, and yet they are still posting jobs and hiring without even trying to find a way to re-use the people they are laying off. This does not look like a company of management who are competent at anything other than manipulating stock price.

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Post ID: @reel+1u0qmXf2

Visa needs to take a serious look at their entire executive leadership. All I hear from our town halls from Ryan Mcldouche is we estimated wrong, we forecasted wrong, we managed wrong, we did get this and that right.

Instead of laying off the engineers and others that actually do the work and having to offshore everything to Poland and India. How about you fire Rajat and his other cronies. I’ve never seen so many disliked incompetent leaders at a company in my life. Maybe at Wells Fargo with Ryan’s buddy Charlie Scharf the crook.

They are all cowards who take no responsibility for spending too much and the miss. They have to blame someone so blame the economy and workforce.

Cowards!! Visa is gonna be seriously hurt by this culture from the top. There are no visionaries or leaders just goons trying to save their assess.

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Post ID: @4gdq+1u0qmXf2

Someone wrote: "Ryan is turning out to be a weak CEO. He hasn't been able to move the stock anywhere" think twice, he will move the stock by end year ==> cut cut..and more cut = Stock will go UP

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Post ID: @2hjw+1u0qmXf2

After Ryan took over, I felt and saw the writing on the wall. After covid, and return to office, work environment started to change. I started hearing from all fronts 'Value' what 'Value do you bring? "We need to see and account what Value do you bring" This is what I am seeing now:

**Lifetime Employment is No longer applicable in 2024 and beyond ==> Now it is= Lifetime Employ ability.

** Stability (predictability) is No longer applicable in 2024 and beyond ==> Now = Change, Uncertainty

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Post ID: @1cig+1u0qmXf2

They should come out at once and decide who is going to stay and who is going to go, instead of these secretive maneuvers. Ryan is turning out to be a weak CEO. He hasn't been able to move the stock anywhere. Obviously, part of this is we do have fats in many corners. That needs to be shed but all this sidesteps are distracting as fu-k.

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Post ID: @1xqi+1u0qmXf2

It’s sad how non transparent Visa is being with layoffs. Would love to see Ryan or executives give a notice like Intel, Dell, etc. to say something like “we will be reducing and consolidating our workforce over the next 3Q by approx 10%.” Instead, they do it secretly and management is told not to tell employees.

Stark contrast from Al Kelly, who was upfront during Covid on his plans to not lay anyone off.

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Post ID: @snt+1u0qmXf2

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