Aasc- yes also the part of the problem. Consolidated views driven by IT and s/w has empowered this dangerous and lazy thinking further.
11 replies (most recent on top)
@Om2VKyO-aeuj - the root of the problem is the "maximize shareholder value at all costs" mindset pushed by MBA mills - they see stock price as the sole measure of success, leading to the perverse incentives that result in layoffs being "good" for the company
Yes, IT and s/w are a big enabler of this behavior. The unprecedented amount of information available on operations, general analytics and finance at the top is incredible. In many cases once leadership teams that can't lead innovation like csco elt become lazy and focus on squeezing out every dime. I will only change my position on this only after a see this "tech" company innovate internally and grow again. Lazy management, they do not earn their compensation package.
Have you noticed that a large percentage of the US population have become "destroyers"? Taking apart US companies and culture to satisfy their own greed.
Yup it is a one stake holder company now - board and elt (management). Employees and customers are unhappy. Shareholders are losing out too because to be successful in a tech company one has to have a leadership team that innovates and this group is not capable of that....so they are squeezing every dime for themselves.
Because they are buddies with the BoD, and get rewarded for "making the hard choices" to layoff hundreds so the stock price get a boost and gives the ELT more cash
I remember when our BU leader (who was actually a not bad guy by Cisco low standards) was unceremoniously fired.
The e-mail went on to say he was "looking for other opportunities in Cisco". Subtext is he was massively fired. I mentioned this to a co-worker who spent his life shoveling powerpoints for senior managers - who said it then only dawned on him what had happened!
If these were the rules most software "engineers" would have to pay to work there and a rare few would be far better compensated in both better work and better pay.
Since when has anyone who is part of whatever a company calls it's equivalent of Cisco's ELT, or any CxO (corporate officer) EVER taken a pay-cut for poor performance.
They're quietly asked to leave and you see a sudden announcement about their resignation. Then they grab ahold of their golden parachute and leave the company with multi-million dollar packages.
Temps don't take bonus at anytime. You should be thankful you have a job.
Companies in Japan do what you say. But it is unheard in western countries