What's their track record as it relates to companies that Thoma Bravo acquires?
Do they cut payroll swiftly?
How's your experience?
Disclosure: I am not with Riverbed, I am with another company that recently got acquired by Thoma Bravo and now we fear that Thoma Bravo will do layoffs here.
Thanks!
Mailgun part of the Thoma Bravo company portfolio based only in the US recently acquired Mailjet their European competitor with global reach and offices in many countries.
Not even a month later the ax is already flying.
In Canada the entire office is been shuttered and all employees have been laid off.
Just in time for Christmas, the Grinch lives.
Unable to find Mailgun or Mailjet listed among thelayoff companies so pass this info on as needed.
Many skilled IT/ops people now out in the cold looking for work.
Ohh yeahhh and the layoffs are given no justification for the who & why that person. Just some number cruncher outside consultant looking at the excel spreadsheets given to them. They won't tell you why you got selected to be laid off. Management will tell your left behind colleagues they had nothing to do with it, they had no say in the matter and are sad to see you go. They act like the borg came in and darn we were all just blindsided. But hey we are all in this mess together so let's now hold hands by the camp fire and make the most of it. Sadly with each round of layoffs (and you'll see multiple if you last) many of the butt kiss lickers, self promotors, incompetents and blowhards will keep making the cut.
If you perform, you’ll be taken care of. Lifers will have to take a hike.
Thoma Bravo Just bought AutoData this year and the layoffs have started
CEO gone
Business Leaders Laid off
People from the PM and other functional units laid off
1st wave of layoffs started, traditionally Thoa Bravo is notorious for such layoffs starting at 5-10% going up to 30% see their history
https://www.thelayoff.com/t/NdgZs-x
https://www.thelayoff.com/t/RZACyHy
https://www.thelayoff.com/t/rYofhuL
https://www.thelayoff.com/t/CAglHax
https://www.thelayoff.com/t/J97uMyn
Thomas Bravo gurantee to layoff after acquiring a company. Some maybe in the range of 5% to 15% to begin with, after1 year, it can be a total of 20-30%. And yes, they take immediate layoff action as they have done this hundred of times. Take for example, acquired Bluecoat, layoff 10% within a month. And incremental layoff here and there throughout the entire year. By the time dust settle, 25% were chopped, 15% leaves on their own. But wait, it's not done yet. They turn the intellectual property they acquired, packaged with maybe another company in their portfolio, and resale to someone else for 2x-4x they purchased. They are brutal! If anyone company get acquired by Thoma Bravo, get ready to lose your job!!
Speaking from experience, Thoma Bravo acquired Barracuda Networks on 2/12/18 and the layoffs started 3/1/18.
If you're a performer, you have about 1 year before you get stuck. Thoma Bravo acquired companies will be sold off. Your benefits will lessen on the 2nd year - health coverage, etc. Your department will be off-shored , all to make EBITDA look good. Even if finances are fine, you'll see another round of layoffs on the second year. Not saying it is bad, but saying what's going to happen.
Yes, they do more than regular companies
Ita all about cash flow for them
There was a headcount reduction just BEFORE Thoma Bravo took over.. it was almost like it was a pre-req. But as other commenters said, yes - it's a EBITDA correction primarily.
Having said that, there's rumours of a layoff soon due to poor sales quarters
Yes. It is all about meeting EBITDA. But frankly most companies payrolls and products need some shaping up after acquisition. Once the business improves they will rehire.
Yeah