I saw somebody mention this, is this number correct?
11 replies (most recent on top)
the total numbers wont change much - its the relocation of operations to cheaper area’s that will hurt most non- execs
Pure Storage does constant small layoffs to skirt layoff laws its typical. The unlimited pto helps to avoid payouts when doing so and even vacation time off can "hurt" your metrics to can a person randomly no warning.
They'll get rid of more and more people or shutter locations as the company has a harder time being cashflow positive. So if financing is tough due to a bad market or recession it'll be a lot harder to stay afloat.
Further the problem would domino to other fields as it's just in general for startups overall.
The stock had max value at 50 the current value around 9.80 is at all time low. The only reason it was up was due to Trumps tax cuts previously but that will be harder long term. Financial analysts state the stock has estimated -25% value expectations and is a "do not invest" portfolio. Overall that means funding for future projects will get harder long term.
Not like other companies aren't having issues though as industries that are typically startups are pausing hiring for now as well and having more cautious approaches.
Sadly yet ultimately Pure Storage is highly reliant on the stock value and investments. As that dries up it'll be a worse issue long term. And financial analysts were estimating a Recession in the next few years for other reasons and not the COVID19 so that is sadly a potential further for long term stability as well.
Overall if anything now is the time to hunker down and make sure work is great at all times as a lapse will show who's at more risk for the cutting block. But dead weight has a tendency to make friends clubs and get rid of good engineers causing more issues long term increasing part of a toxic environment.
It isn't a bad idea to have your resume and have it updated just in case it's needed long term for the unforeseen.
At least 140 people were laid off in USA...
When Charlie said "Life here at Cisco.....errr I mean Pure" he meant it.
All of these old-schooler types getting ready to drain the culture to get the right price for a buyer. But who besides Cisco and IBM would buy Pure?
This is funny, just as they've hired dead weight from NetApp and Hitachi.
♬The wheels on the bus go round and round, round and round...♬
Not sure about other orgs, but in the Support org there is a lot of dead weight. (Especially in Lehi.)
Nice typo there in the title. Very appropriate.
With current CEO and new Professional Services management there are more layoffs to come.
Mountford At his best .. just wait and see smiling face with bag of shares he is getting for this “fantastic “ achievement.
Go and tell this to our prospect and current customers not $hareholders !
yep, been said yesterday at the earnings meeting
And are we sure layoffs are done?