This afternoon I was told in private by a VP that f5 will be announcing cuts to MBO bonuses and they will now be paid out annually and no longer quarterly. The hits just keep on coming with this company, who is doing everything in its power to destroy employee morale. One of the reasons I came to f5 in 2020 from a competitor was because of the generous MBO bonus program. I may be looking elsewhere now. Anyone have advice?
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I don't think anything will change after the survey results too.
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waiting for survey results
"this company, who is doing everything in its power to destroy employee morale"
waiting for survey results
“ increase in stock price”
The price goes up every time the company announces layoffs. Stock prices hardly reflect engineering performance and excellence. Wait until the AI bubble will burst. F5 portfolio is old and is not evolving fast enough.
It was the finance and accounting people that you should thank and reward for the increase in stock price. F5 doesn't have engineers anymore just a bunch of coders
“ do you think FLD will pay attention to this and reward Engineers ? ”
FLD is clueless about engineering and couldn’t care less. By the way, I don’t give a dam what he thinks. He has zero respect.
Agree. But do you think FLD will pay attention to this and reward Engineers ? May be in my dreams. As long as he trusts the incapable leadership, nothing will change unfortunately.
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“ F5 is too top heavy..”
like a tumour growing on the top and in the middle of the body
“ F5 is too top heavy..”
like a tumour growing on the top and in the middle of the body
F5 financial plan is calculating around FLD total compensation. Cashew in Togo needs funding.
F5 is too top heavy.. multiple managers and senior directors for 15 member team, 3 -4 principals and sr principals in a single 8-9 member team …do we really need all???
I have worked with some directors and a few Senior directors. You will see Solution Architects reporting to leadership just because they don't know a thing about technology. Absolute waste of money. On top of it some of the people managers and Solution owner's su-k. Not sure why these people were not part of the layoffs. In house principals are way better than external hired Principal engineers.
“ 2 managers and 1 director for a 15 member team”
How about one senior director, one director, and one product owner for a team of five senior engineers? The perception that engineers don’t understand the business is mind blowing. Bring more, clueless and patronising directors.
Sr. Director!
what a waste of money for status checker.
Come on F5..do you really need 2 managers and 1 director for a 15 member team.
The mote execs f5 can hire the more the sheep can be micromanaged. It's brilliant!!!
Cutting out the bonuses is a way of funding outrageous exec salaries
The MBO cuts are rebranded as “enhancement to the funding scale”
They are in a seemingly subtle way just calling everyone to jump ship and save some money for F5.
When a company's new "MBO plan" gives its CEO free reign to use the MBO bonus pool as a slush fund for dressing up the earnings... that's when you know the MBO plan has nothing to do with rewarding employee performance and everything to do with pumping the stock price so that Francois can get his exit liquidity. F5 is tip of the spear in the shitcoinization of American industry.
"Anyone else struggling with this annual goal setting "
You can use "AI" to generate answers. In the end, someone generated the "Goals" and the "Promises" using the same approach! Let's have monkeys do the monkey job. It's supposed to be "ridiculously easy".
Anyone else struggling with this annual goal setting and trying to connect these promises and BeF5 things to our job?
The way things are going bonus time will be when employees have to pay back some of their salary
This is how you communicate to employees that they do not matter. Cut on everything, introduce quarterly interrogations and layoffs. Ask to plan a year in advance when you have no idea what is coming in a quarter. Ahh, what's the point of planning? Nobody knows if they can log in to a corporate account the next morning. FLD and the VP gang destroyed the company!
What the he-l has happened to F5? Being taken over by a cult?
Yes, the cult of McKinsey.
What the he-l has happened to F5? Being taken over by a cult?
You can bet someone in the finance department came up with this one..."ya know. If we pay out yearly, we can save on expenses by avoiding payouts to people who leave. Back of the napkin [hurriedly checks calculator], we'd reduce our OPEX by this much."
Even more cynically, it's a potent lever at the end of the fiscal year as they can give every bonus a haircut to make a number.
You were right...
You were right! Expect the company to lay you off before you receive the bonus.
You want advice? Jump ship now.
"One of the reasons I came to f5 in 2020 from a competitor was because of the generous MBO bonus program"
One big mistake when negotiating salary is to fall into a trap of "generous bonuses" or "shares". Both are promises and worthless ink on a paper. What counts is monthly cash in your bank. You sell your time for money. Worthless MBO promises or not vested "shares" won't pay bills.
Does Togo Chief Economist give licences for BigIP for promises?
Advice: Find another company. Look quietly then when you have a new job give F5 notice and tell them why you left at the exit interview.
They call it "alignment with promises". Utter BS by the muppet in a sweater and the rest of the VP clowns.