Do we know if this round of layoffs at F5 Networks is over? I am scared of what might wait for me tomorrow at work. Although, no matter what they say, I will never be able to trust them again. It was specifically stated there would be no layoffs. And we all know how that ended up. Good luck to all.
6 replies (most recent on top)
I doubt F5 was ever a "different" company at all. When the money is rolling in without much effort then it feels like a "different" company. Now it is time to grow up F5. Shareholders expect growth. If you cannot demonstrate that, better come up with a new strategy that will. Can't do that quick enough, better layoff a reasonable enough percentage of the workforce to demonstrate to the shareholders you are doing anything and everything to increase the value of their shares.
What will be interesting is to see if new strategy can be implemented in time before the last step in any downward trend - sell F5. Seat-of-the-pants management won't work any more. To change direction of existing ship you need to communicate in detail how to do it and manage that change. Or maybe the plan it to let that existing ship float out to sea (layoffs will continue), while setting sail on an entirely new ship w/new leadership.
The difference here was that F5 was a "different" company, one that actually valued employees and not just stock price. That's changed now--as implied in the comments above, F5 is now "just another tech company", where share price rules. Not the end of the world, but certainly the end of a good run.
Restructures are very normal in the tech industry. If you haven't worked on any products or you're just maintaining then it's time to do something new. It's a blessing in disguise, take it as an opportunity to find something better & get paid more.
did every company lie about upcoming layoffs?
Start your own company!
Every company I've ever worked for in the past 2 decades has had layoffs. Good luck finding one that doesn't.