We very rarely if ever have layoffs on Friday, so I'm thinking we are done for the week.
But it'd be good to know how bad this week was. Do we have a number for how many were laid off in the past several days?
I know they were layoffs internationally as well, but here I'm asking specifically for U.S.
The only good thing that came from the Elliott Management group , was the emphasis on layoffs from the top down. They ended up meeting their cost cutting goals quickly and without impacting customer facing worker bees. Just as soon as Elliott reduced their position and went on to terrorize other companies, Juniper started putting back all that FAT in the high-middle and upper management. WE have now returned to a disgusting bunch of inbred relationships that we call management.
We had a senior VP of Customer Service who was not getting the job done, so they let him take a years leave, and not he is back in a new position that we call Quality Control. WE can already see that he has attended some nice conventions and purchased an off-the shelf QA survey for us to fill out. Similar to what out misguided CIO does with the off-the-shelf security entertainment for us tow watch.
In a similar way, our Chief Customer Officer was replaced, but he is hanging around to advice on a future matters. This and the Salary's noted above could likely save about 20 employees a piece.
The terrible thing that Elliott Management did was cut our our R&D spending by nearly half.
And while the tiny little stock dividend is debatable, we had to sell Junk Bonds in order to pay the first several dividends, and that is just not right in anybody' book.
Does anyone have any idea just how big this round of layoffs was? And are we sure it is done or can we expect more sometime in the coming weeks?
is the estimated 15% number correct?
"No company would miss to announce major layoff as it drives stock price up."
Have you never worked for other companies? Many CEOs believe there is an art to layoff notices.
There is a fine line between announcing a layoff and getting a small bounce because it shows "fiscal responsibility" and announcing a stock and taking a big hit because it shows weakness in the company that were obfuscated in earnings reports. In Juniper's case, announcement of the layoffs would have investors digging more deeply into finances, sales, lost contracts because of failure to deliver on-time, quality issues, etc.
A layoff announcement would not drive the stock up any more than the grand announcement of the SPC3 card and its stunning 11x times performance over that of the SPC2. This is supposed to be the great harbinger of 5G, and stock got a small bump yesterday, but look at today.
Büllshìt.
Layoffs alone don’t drive the stock price up. Cutting costs and improving profitability does. Eroding margins and inability to deliver innovative solutions other than lame performance improvements on a device or two is ample evidence that Juniper has lost it’s mojo. The misinformation by the leadership team just won’t give Juniper any advantage over the competition.
The leadership team has been dishonest internally. What will motivate them to disclose the truth externally? Remember that wall street takes note.. in some other thread someone wrote...
“Number fudging is the name of the game at Juniper. It is business as usual and no one cares about honesty and integrity anymore. That is why there are layoffs to coverup - every quarter!”
No company would miss to announce major layoff as it drives stock price up.
Which groups in Bangalore have been affected?
The Juniper "WRONG WAY"! Upper Management can't figure out why people are leaving, that is all you need to know about the extended leadership team. It doesn't take a great deal of intelligence to figure out why people are jumping to other companies, we have been lead to believe that everything is just rosy we aren't naive and yet they continue to feed us a line of BS quarter after quarter. The layoffs aren't ending, they will continue to cut and they can't even be adults about it, almost like it is a covert operation.
Bangalore got hit very badly this time.
It is not the Juniper Way to give numbers or even let anyone know outside the departments effected of the layoffs. There are sometimes some vague emails if an executive in a group is gone, but we peons don't need to know anything, according to the lords of HR. Even a director I once worked with, who was laid off from the CSS group, didn't know how many people from the rest of CSS were laid off, she only knew her entire team was gone.
I guess I didn't see the asterisk with the caveat of "Does not apply to all" on the graphics for the "Endless Summer" company meeting.
We don’t. No layoff numbers given. It was quiet in US Marketing, although we did not go completely unscathed.