1st quarter is coming to a close, any predictions on 1st quarter loss ? I say $21M much due to market decline in NASDAQ and the magnificent 7.
Anyone else ?
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CFO is gone effective 5/1.
Her LinkedIn profile doesn't indicate that she is no longer CFO,
Is CFO really gone?
The admirable thing for the Board and CEO to do in an ironic twist is to sell the company to save jobs. With a merger there could be an agreement conditioned on the sale that 600 out of the 850 current positions would be retained over a 3-5 year period. This would save jobs and keep more people employed. Better to do it that way instead of waiting for DOGE to come and do it for you.
Call center call volume is down. If claims can be further automated, 25-30 people could be eliminated. Farm out 25% of all IT, all of CX, 50% of Capital Management, all Field Exec VPs, eliminate VP of Compensation. There is still some fat and meat on the bone that can be cut. Many key people are retiring too. There is a "brain drain." It might be that the Firm is forced to merge or sell because it has lost so many key people that operations can't continue with a large amount of risk. Think: Disaster Recovery Plans. If no back up, risk is too high to continue as a going concern and entity.
When is the next round of layoffs?