we have been hearing lots of rumors around the our office halls since last week - G2M spinning out, XenMobile might be shutdown or going, netscaler being sold. Also lots of talk about layoffs in the order of 5 to 20 % cuts. each day brings a different version of the stories.
what are other people hearing?
rumors saying it may not be as bad in Raleigh as in FL and CA, but not a safe harbor either. Raleigh will see some cuts.
any new rumors for raleigh? getting impatient waiting for nov 17
They were threads considered to be inside information versus opinions, they don't want to get sued here.
Duke Nukem strikes again... 2 posts deleted from this thread. can't remember which ones they were but IIRC this thread had no posts related to H1B - so that theory is toast.
Elliott Management doesn't care if it kills the host, so long as it siphons off enough money while doing so.
http://m.theregister.co.uk/2015/08/21/citrix_needs_to_pull_it_together_and_soon/
California gets 100% of unused vacation on severance, fl gets 50%. CA also gets better vacation rollover. This started a trend of booking a long vacation in Florida and giving your two weeks notice the day before.
Netscaler isn't going anywhere. Too integral to the success of the core products and increasing in sales too greatly YoY to be a candidate for offloading.
Heard from director today that XM is being shutdown. he also said he was told that by management that cuts are >>10% in our BU . Someone else said cuts will be in Q1. been hearing lots of similar rumors for 2 weeks now.
No solid information from any where, that is consistent. Could be a spin off of Goto Saas? Of course! But what about the bloated middle management? XA/XD was already cut in Feb. cutting more including overseas locations would hurt to a critical level. Just wait and see.
Overall Sharefile should be safe but I would expect cuts along with the rest of the company
What about ShareFile/Raleigh?
From the news it's GTM spin off
Cloudportal and XM shut
Layoffs will be tied to all those. Plus some extra fat they see in XD/XA
i wouldn't bet on XM going. Think about customers who own Workspace Suite..... XA, XD, ShareFile and XM. Can one entire product line and you will have some pissed off customers who have purchased multi-year licenses.
From the news it's GTM spin off
Cloudportal and XM shut
Layoffs will be tied to all those. Plus some extra fat they see in XD/XA
this article explains it, its cheaper to allow them a seat on board than to fight them.
http://www.bloomberg.com/news/articles/2015-11-04/from-icahn-to-peltz-activists-find-companies-are-caving-in-fast
The 50% payout on not used PTO is old and what they did in Feb.'s mass layoff. Not sure what they did back in the 2008 mass layoff. I believe that it is in the Employee handbook.
I don't understand how an investor buys such a small amount of a company yet has so much power?????
Well I hope the rumors about no severance are false. In the Feb. layoff they basically did 8 weeks plus 2 weeks for each full year you were with Citrix. Plus, half of any unused vacation time. So I hope Elliot doesn't get their way on this at least.
I heard cuts start on 17th, 20% and Elliot pushing for no severance .... just rumors though
anyone who didn't see this coming is blind or a fool. i quit few weeks after the last layoffs in february. run now or wait for the cut... but good luck looking for work in FL with hundreds of others competing against you.
Citrix sucks!
anybody now the plans for cloudplatform ? - we've already been cut right back and struggling to cope but nobody seems to think about us when it comes to selloffs ? id hace thought we would be the first to go
20% plus spin off seems a lot. There are 9,300ish employees at the moment, a 20% reduction would see that go to around 7,500, then with spin offs etc. it could drop that to less than 4,000. That's a lot of ex-citrites
When will it happen? They bumped the GEM a week to the 19th and the VPs are presenting 4x with the last one on the 17th. Is the 18th the day notices are done?
G2M and XM gone.
NetScaler is not leaving.
20% or less not including spin off employees. Most of those will be employees tied to those spun off products.