Any more layoff talk/rumors? Sales says their SKO is ON for mid-June?
11 replies (most recent on top)
I see only the resignation letters, not RIFs.
Job market is still strong. RIFs are sometimes still necessary to eliminate well paid but redundant or low productivity positions
Feels like we're seeing farewell emails on a daily basis
Layoffs aren't needed if everyone goes of their own accord
There’s reality and expectations - two different things that does not equate to failure. Bankruptcy is just not the correct assessment, not even close in this case. Bottom line is, Riverbed isn’t the healthiest company but it’s not dying in the vine either, there’s just too many customers that actually use our products to “just disappear” into the sunset. While we aren’t privy to all the business data, we do know the changes are needed to adapt to our changing business model and it’s not easy at all. The best we can do is focus on what works, voice our opinions where we think things aren’t working and execute the best we can - the rest will be history.
Focus on reoccurring revenue, focus on acquisition costs and our selling price and focus on morale because, if we do it correctly, riverbed will be healthier tomorrow. Easier said than done, true, but every modern business struggles with this and it isn’t just the leaders that have to execute, it’s everyone. The fear monger poster is an example of what’s not needed now. The leaders’ take away should be, given all the town hall meetings we have, there are a contingency of folks not seeing or believing you. I know you’re trying your best here but there are (people) reasons why we can’t.
Change is hard and isn’t for everyone, all we can do is remain focused and do what’s best for us at the end of the day.
In that case job is safe for next 8 weeks. Yahoo! I will start looking this August, been putting it off for many years now.
“Bankrupt”???
Scaremongering from someone who has no idea what they’re actually talking about.
As a side note, most successful IPOs are companies that have never made a profit.
How can we go bankrupt if we have $200m and profitable ebitda (however small)? Are there hidden costs that I am not considering? And misses are just relative to forecast. Let's just set a realistic lower forecast next time?
I believe PM said we have 200M cash. Our yearly cost is around 600-700M. 3 bad quarters(high double-digit miss) like 2019Q1 would probably cause the company to go bankrupt. simple math, guys. Our debt leverage is sky high and we wasted money on unnecessary investments. Prepare for the worst around Q3/Q4 timeframe is what everyone should do.
Elder cancelled Q1 cos we had a fantastic Q1 teed up, well that was his official reason. Q1
was a disaster and Q2 is looking bad unless a miracle happens in the next 6 weeks. So, yes, I think it’s inevitable.
Riverbed leadership = old dudes that wear Affliction t-shirts and ripped jeans
I guess this is who riverbed leadership gets their information and ideas .. pathetic.
To the leaders, grow a personality and remember, it’s no longer the 1990’s.