It is time for the CEO of ADP to "retrain" and find something new. How about leading by example Carlos for once in your life?
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Well if you had taken the time to even look back into earlier this year, say February, the stock was around $180. Now is is down at $145. It got down to around $100 just a few months back. I sure don't see how you say quarter after quarter it keeps going up and up. But even a tossed rock will travel for a while and ascend before it falls. The effects of the layoffs (i.e. - transformation initiatives) with all the cheapo inexperienced ineffective new hire grads was the false lift to the financials. That only lasts a short while. The sad truth is it was hugely short sided and that is biting ADP in the @$$ and to make things even worse, the business landscape has become decimated for them since they started all this. They can cook the books all they want and change out CEO's who eventually won't risk the jail time all they want, but they are in a really bad place and it is now a horrible environment in which to work, especially for chicken feed!
Weird how every quarter the stock goes up and up and client satisfaction as measured by clients also continues to go up quarter after quarter .....but yes all the id–t new people must be reason and Carlos is to blame for the ...improvements?
It is disturbing how ineptly Carlos has led ADP for the last few years. His entire plan for improvement is to save on labor costs by eliminating experienced professionals who had made ADP successful and replace them with cheap and inexperienced workers. Huh? That's the plan? And nothing else? That is just guaranteeing a brain drain and a loss of the company's knowledge base!
ADP's labor force has suffered as a result with scared employees waiting for the next layoff to sweat out, not giving their full attention to their work, or leaving the company for less stressful environments that likely pay more.
The ineptitude of ADP's top management team is phenomenal.
I think a LOT of people would be very happy for him to step down or get replaced as CEO at ADP. The devastating unnecessary undeserved layoffs for the past 4 years has caused a lot of pain for a lot of people. And in the current COVID world for it to continue is plain 1000% wrong.