Welp, the dreaded email we were all waiting for has finally come. Anyone receive an email yet?
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Is annyone comfortable to share what the redundancy package looks like (no cash amounts).
Haven't had the cash deposited yet, but in MyHR, i see that a statement of the grant with tax deductions, so they're being processed. (I'm still employed at Coupa).
I'm still waiting for mine
Did anyone get their rsu cash payout in their etrade yet? I have not gotten anything yet
Next round of layoffs by the end of year I guess. They will come up with another lame excuse and pretend all is well.
Riggs was the only one who portrayed genuine empathy there. Grateful for the ones who left and you could feel it in his voice. "Customers believe in us more than we believe in ourselves", you could cut the air with a kn--e after that statement, and I am sure it hit home to most after ingesting all of the negativity recently. True leader. Tony was right there with him. It's been a rough few months to say the least, it was refreshing to hear someone shoot straight for once.
For previous poster the final song was 'Lean on your world'
What I find most interesting is that they now tell us his was all planned and discussed for weeks. Yet, during this time they shared nothing with us. Did not express in anyway that there was a concern. Then dumped 30% of us in an hour. Also the second most popular question they received was how many people were laid off. They haven't answered.
Riggs is a terrible speaker in this situation 🙈
The tone is all wrong. Only one person showed any level of empathy or compassion
AN HOURS NOTICE. DISGRACE. NO APOLOGY.
They are a disgrace. Still no clarity. All wait and see. Do we have an office to go to or not? Why do they think we have any respect for the management team? They dumped our friends over an email. With an hour's notice. No respect for these charlatans.
Is this a stand up comedy show or did 30% of our colleagues lose their jobs?? Have some respect.
Do we believe him....no more layoffs? Sounds like a lot of spin. Should we just look to other takeovers? All had multiple rounds of layoffs. Who knows.
All-hands is Thu June 8
No longer a 'Coupanion'-- curious if they had some rockin' top 20's tunes playing pre/post All Hands meeting today? If so, can anyone tell me the artist and songs that were played? Also curious, does the new CEO drop #AllOfUs any chance he gets like Bobby B used to?
They have evaded the question on the layoff numbers. Be transparent and give us a breakdown to understand the impact.
This hands-on is hilarious.
TB are happier to loose buildings and people work from home. If you look at other companies they take over. Bottom left me is cost and more natural attrition will occur with no office space available anyway.
There's supposed to be a move of San Mateo HQ to a new building in Foster City a few minutes away. Does anyone know if that is still happening?
„I think either offices will begin to close or people will be hauled back in“
Possibly both. TB wants to cut costs but doesn’t seem to care about details. I can imagine TB deciding to close offices that are not used to a certain percentage, and middle and lower management hauling everyone back in an attempt to save their individual office.
In Germany, the lease of the biggest Coupa campus is running out this summer. Will be interesting to see if they even try to find a replacement office space.
I wonder will Coupa mandate more work from office. They need to justify all these offices, I think either offices will begin to close or people will be hauled back in
US customer care team lost 7 people, half the team. We took calls and did the grunt work but it kept the place somewhat functional. Now with half the people it's going south fast. Cases are going to take longer to reply to and calls are coming in too fast so customers are waiting longer. They also fired our best performers, our document creators, and our refresh and upgrade experts. They also fired all the girls off the support team. Makes no sense. Thoma Bravo, I hope you realize you just shot yourself in the foot.
Interesting article about the plight of remote workers. There must be alot of remote employees Coupa hired during the pandemic who are in this situation now (both laid off and still at Coupa) who may not have a lot of options with companies increasingly expecting a level of in-person work now.
https://www.businessinsider.com/hate-job-love-working-remote-2023-5
Advice from someone who's been laid off before, and now that we've been partially paid. Don't be tempted to start spending the money. When you've applied to dozens of jobs. Have had a handful of interviews and you're looking at month four, you're going to wish you saved money. You might be burning through savings at 2.5k/month. No fun activities, no vacations, no spending sprees. There is only so much LinkedIn learning, pluralsight or Udemy you can each day.
Be smart, clip coupons, shop at Walmart. A bad life event and bo-m you're down 1.5k. Join a support group and don't forget self care. Take care everyone. Be mentally prepared. It's time to get ready for the long game.
“ Layoffs suck but the company did amazing things for the procurment and more. Parasites everywhere. Beware.”…lol, corporate shill still trying to make it seem like firing 30% of the workforce is normal and we should just be happy that we were able to make Rob wealthy.
"All the corporate nonsense like "village", "inspire","colors", "core values" was a red herring."
All of that so-called nonsense (except Coupa Colors) was established in Coupa's early years, before anyone knew what Coupa was and probably before Coupa knew what Coupa was. Hardly red herrings. They were foundational to the company that Coupa was building in the decade+ ahead.
There are a lot of competitors trolling for talent on these strings and talking sm--k about Coupa which they know is not true. Layoffs suck but the company did amazing things for the procurment and more. Parasites everywhere. Beware.
Coupa is an average software house without any great products. It always struggled to make profits, All the corporate nonsense like "village", "inspire","colors", "core values" was a red herring. It is a lesson for all employees to not to fall into this trap next time. It would be sensible for all the remaining ones to quit before the ship sinks completely.
I was impacted after being the Top Supply Chain AE last year. Coupa did not invest in Llamasoft . When I started 2 years ago there was a mass exodus of Llamasoft people . It was evident that Berynstein had buyers remorse . Then they hired two unqualified empty suits for SVP and AVP roles . They were clueless. I think they were hired as placeholders while Rob was courting buyers . TB will likely sell the SC business unit in in the next 2-3 months .
Coupa had die hards for sure. But it was full of amazing people who I would bet on. Those impacted will be highly sought after on the market. I have no doubt. Good luck everyone.
Curious to what leaders were laid off?
Is anyone impacted in France?
Thanks for reminding us about e-Trade. Totally forgot about switching that over.
IMPORTANT if you were impacted and your next vest date is after June* I contacted HR for clarification and they said although we won’t receive June vest, we will still receive credit toward our cash award payment. A few of my fellow impacted colleagues asked the same and it seems they are copying/pasting exact vague response. They said the RSU cash award will be in our e-trade account by 6/9. Do not forget to change your e-trade email to your PERSONAL email. And I would reach out to HR with the same question so you have their response documented.
How is the package in Ireland? is the bare minimum of 2 weeks per year at 600 euro maximum per week?
Sometimes when you reset it might not start again.
Exactly I’m a Dublin employee who got my notice on Tues. between now and jun 20 im marked for redundancy then redundant after Jun 20. Although it’s not an ideal situation I also don’t feel like Coupa are behaving in a dishonest manner. Ultimately lay offs were inevitable and I met the criteria. So be it.
I also don’t understand how people can doubt the Irish layoffs. There are only a few, I only know about 2 - both in Sales. So the number is very very low compared to other countries in EMEA.
To my understanding, a company only has to do that consultation if they meet certain thresholds. So if Coupa has 300+ employees in Ireland, they need to let go of at least 30 employees. Only then they have to do the consultation. There are more levels to this but don’t believe easily that you have any legal case.
Any CEO minus one or minus 2 leaders sacked??