Hearing rumblings of another round of layoffs affecting some engineering and product folx today. Not sure of the scope yet, hope it's minimal.
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Has anyone else heard about this? I'm starting to hear rumors but not sure if that's just because of the earnings call. What does severance look like?
Mike is rich. His DUI goes away with a fine and little else.
I just want to know what happened to Mike’s DUI charge?
Yep, layoffs of product, eng, project mgmt folks. Maybe more. Definitely within the EVERFI unit, haven’t heard about the other units yet. This came same day as a poor annual voice of the customer readout for the corporate impact pillar. EVERFI layoffs were predicted by some teammates after Mike G announced they were considering divesting from the EVERFI portion of the business in the last quarterly earnings call when he stated that EVERFI is a drag on Blackbaud’s financial performance metrics
Not just inside the Everfi unit... Layoffs are trickling into the company as a whole. My guess is we learn at earnings they have had another full round of because the head count is too high and a drag on bottom line.
You know typical Blackbaud stuff. The line from the previous round was we are comfortable at our head count today. That was over a year ago now and they are not delivering on their lofty promises of $90+ a share. So here we go again, started inside Everfi unit, and is moving like a slow wave throughout the rest of the business units.
There were layoffs within the everfi business yesterday, everyone was already notified. They said it was specific to everfi and not the Blackbaud at large.
Do the impacted already know?