Are we having cuts in April?
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This week is the week they normally do the layoffs. Anybody heard anything on timing and what BUs will be affected? I have a bad feeling HN may not be spared this time around.
Raymond James cut to underperform, noting leverage. A move it equates to "closing the barn door." "It faces challenges with increasing input costs, and we worry that aggressive cost cuts could protect cash flow, yet jeopardize its future."
Aggressive cost cuts is another euphemism for mega layoffs of worker bees while keeping management in tack to create & circulate powerpoint presentations! I would guess that the hammer will fall before the May ER.
From this article: https://www.nexttv.com/news/commscope-taps-chuck-treadway-as-new-ceo
"Carlyle took CommScope public in 2013 and still owns 15.5% of the company. As part of that IPO, Carlyle--which still owns 15.5% of CommScope--agreed to a "standstill" until April 2022, at which time it can re-acquire CommScope and take it private again. "
Without giving too much away, I work in professional services and most of us have been sitting idle since the end of 2021. I was told by a high-level person recently that sales was directed to only sell services if bundled with product. Basically seem to be abandoning professional services. Maybe this April 2022 availability to take the company private will be a catalyst for more layoffs. I can't imagine the execs not noticing that we're all just sitting around.
I overheard upper manager saying, April showers bring May flowers.
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Was mentioned that everything would be settled by mid to end of April. I think if you are a shared service and you are not tied directly to a BU, you might have something to worry about.
My boss told our team it was time to start looking an update résumé.
There is anticipation with China and India helping Russia circumvent the sanctions, Europe and US May impose some sort of sanctions on them. With COmmscope having significant mfg in both, they will hurt.
April seems to be a pattern the last couple years. Watch out for lack of comms in the next few weeks
There's been general chatter about it, I'm looking for any additional details.