How likely is that there will be Citrix Systems layoffs? Any chatter, news or rumors?
19 replies (most recent on top)
Elliott took a stake back in 2015. You didn’t include that round of cuts in your calculations
Citrix/CSG layoff percentages since Elliott Mgmt first took a stake are roughly:
10% in 2019 as an activist investor, then after they took Citrix private in Jan 2022 they cut 20%-ish going into 2023 and another 12% going into 2024. Headcount was ~9,000 in 2019, then 8100 then 6500 then 5700.
The Annual Operating Plan (AOP) is implemented in Dec/Jan and the associated layoffs come in Jan, so there will be notifications coming out from now through then next 3-4 weeks.
Layoffs have started, technically speaking it's already 2025 according to CSG fiscal year. Notices have so far impacted the following teams "don't know how many folks".
(*) Sales, Product Managers, Enablement
Heard TK plans to raffle residual checks at the XMas party, just gotta wait a year for maturity before you cash. Good Ole Tommy Boy with the carrot on a stick.
Anyone going to the Christmas party?
I suppose the reason people would care if it is now or later is that the later the layoff occurs, the more money they can save as a cushion/buffer, and the more time they have to find the next job. If the layoffs occur in January, depending on your living expenses, you could potentially save an extra $8,000 - $10,000 between now and then, which might buy you several more months of job searching time.
Honestly - Who the F**K cares? What difference would that have on your life? so what if it's on Nov 21 or it's Jan or Feb - It doesn't matter people. If you haven't been planning on your exit then you'd be in bad shape if it does happen on 11/21. Nonetheless, let's say it's Jan or Feb - you still don't have enough time because the tech job sector is not good now. BTW - there's more layoffs coming from other tech companies come Jan.
Logically speaking - what do you care if it's now or later? The point is, start planning your exit if you haven't already been doing so. Tom K couldn't be more clear, if you stay then you're only staying on borrowed time. If you're over 50 - start looking, if you been here longer than 10yrs - start looking. Sooner or later - Tom and his crew of consultants will ask what you do? is he a 1, 2, or 3? Can his job be consolidated? Time to go people.
I'm guessing the 11/21 date for the layoff was BS. We'd had heard about it by now if true. Plus they'd be telling us not to come into the office for the layoff.
Numbers are off but TAMs are going bye bye. Seriously though tams always knew that and if they’re still here they basically did no work. What’s the point?
Seriously, that dude from the last post must have been high.
Numbers are all wrong and that is false. So false it is comical.
Must be some good weed he was smoking.
Was there layoffs...yes. But we did not layoff 8000 people.
Kids, crack ki-ls. Stay away from the pipe.
Citrix had over 9,000 employees prior to the private equity takeover. Now there are maybe 1,000 employees. The TAMs are likely all getting laid off in January, so this will bring the number down to around 700. Soon there will be almost no one left to lay off, and then they will either try to hire, or the company will just slowly collapse.
TK during all hands was pretty clear, reorg is inevitable further TK added this will be the normal moving forward. I believe he used the words (constantly shifting, regular revaluation of resources and operations). He also reminded us, as profits rise more taxes cuts into cashflow.
In other words, this is the norm moving forward if you stay around long enough. Just like what HP went through for a decade laying off 1,000's of people annually.
TK is amazing good.
This post is repeated everywhere,every year. It's probably a bot.
It was confirmed by TK today that yes there will be coming significant layoffs.
I was laid off today... so not a rumor but reality.
Another lazy “journalist” who can’t read.
Layoffs will be on the second week of January.
do you not see the other threads?
why is everyone asking the same question....read the other active threads first.