As they say 'Be careful what you wish for... it just might bite you back at some time'. So now ADP leadership is worried about their own jobs due to the Bill Ackman stake in ADP wanting to change direction within the company AND new leadership!! After ADP firing so many good employees over the last 2-3 years now who's looking over there shoulders, the ADP senior team. How ironic Karma can be at times, with senior team bonuses being given out any week now for job well done and patting yourselves on the back, enjoy the cash and stock options as it may be your last. During the next 6 months the current leadership team will continue course on office closings and continued layoffs, after that who knows. Good luck employees trying to ride this out as I foresee more change coming.
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At the rate they are going, could very well be GONE by 2020.
I don't think that ADP will be around in 2020.
Sure sounds like a no-win situation. But Carlos definitely sounds like the lesser of two evils compared to Ackman. I am so curious what ADP will look like in 1, 2 and 3 yrs from now since cutting and restructuring are in effect to get the master plan in place. Then mgmt's "2020 Vision" can kick-in. Or should we say "mess pile" can kick-in.
What do you think Ackman is out to do? He's not in it for the long haul...he wants to come in, cut job costs by eliminating positions to raise the share price in the short term, sell his stock to make a profit, and move on. Look at what he did with dealer services being spun off. Once CDK was broken off ackman dumped debt onto the company and sold his stock. Look at what Ackman did with herbalife, he tried to drive the stock into the toilet only because he held a huge short position on the stock so unless the shares went down he'd lose a boatload of money. He tried to get people who worked for the company and lost money to believe he could help and encouraged them to file class action suits which if you know never do any good except for the lawyers. He's a self service piece of trash that only spells trouble for ADP or any company he sets his sights on. Carlos heading the layoffs is frankly the lesser of two evils and I'm happy he's kept Ackman and his cronies off of the board and away from making any decisions for the company.
If Ackman and his minions had gotten on the board it would not have been necessarily any better from an employee perspective. Prayers for the employees should be requested for either scenario.
Wow, just heard on the Ntl Business Report news program that ADPs board of directors rejected Bill Ackman's request to get himself and 2 other seats on the ADP board. It looks like Carlos is still on the throne and will be able to continue his agenda of slashing offices and jobs. Prayers out to all of the employees!!
Lol. And, as they say, paybacks are a BI$%&. Serves them right. I hope Bill Ackman comes in and cleans house at the top! But as an employee, I already left ADP. I think it is a very unsettling place to work to say the least!
Gosh! That is a good one about Carlos not being productive enough. That is absolutely correct. Thanks for posting it. It made my day!
Poor Carlos is " Not being productive enough" after six years so he's on his way out soon.