Thread regarding NCR Corp. layoffs

Business Update Meeting Today

Watching the meeting today the CFO Tim just said that they are going to cut everything out of the business that does not directly result in profit. All indirect costs are being cut.

He mentioned transitioning into a "slimmer" business model that focuses only on financial returns. Apparently the stock price has not bounced back as expected and the management has been upset about the issue.

How do we retain top talent came up. Debra said that would depend on the management and them developing plans for people. It' cannot be just about the money.

The CEO was asked by the audience about the layoffs. He passed the blame to our customers who are hurting financially. He said the "employee actions" will be completed "by the end of November". He said he will not rule out more in 2021.

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Post ID: @OP+17ZNLkB2

10 replies (most recent on top)

I’d be curious to the ceo pay for 2020 when finally published to know if he actually had a pay cut due to covid

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Post ID: @5jjg+17ZNLkB2

Might as well let the Cheetah have the employees lobby for lap dances and parties. Maybe that could help generate some obviously needed revenue so can pay their employees, rather than laying everyone off for this β€œnew vision.”

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Post ID: @3pvv+17ZNLkB2

Let me guess: ‘slimmer business model’ does NOT include fewer and better upper management types, and emphatically does NOT include reducing their bloated pay and benefits.

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Post ID: @2brm+17ZNLkB2

F this do nothing stock. Soon as I was laid off I dumped it all. No money for dividends but we have bribe money for the strip club owner at Cheetah to remove his sign.

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Post ID: @1jkj+17ZNLkB2

"Slimmer business model." Here's an idea... Get rid of that empty, flashy building in Midtown Atlanta, GA. Follow the path many other tech giants are doing and become relevant for 2020.

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Post ID: @1ofx+17ZNLkB2

Chet at 12 million I could retire in my twenties and life a frugal life invested right not even touch the principal. No way this company should pay that much to a failing company. Time to drain this swamp

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Post ID: @iuu+17ZNLkB2

It would take me at that kind of salary 40 plus years
Over paid for what they do

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Post ID: @oex+17ZNLkB2

β€œ The CEO was asked by the audience about the layoffs. He passed the blame to our customers who are hurting financially. ”
Yea blame the customers what a statement. Mentality of a hamster. Everyone hurting during this pandemic except the wealthy. Maybe you could help you employees out some. By taking a pay cut not getting stock options etc.

As President & Chief Executive Officer at NCR CORP, Michael Hayford made $12,780,572 in total compensation. Of this total $1,000,000 was received as a salary, $1,539,962 was received as a bonus, $3,499,999 was received in stock options, $6,500,007 was awarded as stock and $240,604 came from other types of compensation. This information is according to proxy statements filed for the 2019 fiscal year.

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Post ID: @gkn+17ZNLkB2

I am assuming they the cfo and other Leadership are trying their best to keep their jobs bonuses intact and please the share holders. Stock been flat for years and pays no dividends, no one really invests in a company this old that doesn’t pay dividends. Plus it’s a justification to hire more overseas replacements.

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Post ID: @ede+17ZNLkB2

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