Honestly they couldn't organise a pi-s up in a brewery at this point
Who in their right state of mind advises employees that the coming weeks were going to be very difficult and then absolute radio silence from that point on
Has the man got dementia or something
Sick to death of all the bullcr-p. Morale simply couldn't go any lower
@en more than likely they have been using the profits from last quarter to prop up the shares above 60 dollar up the bid price for a deal.
Damn, I’m not sure firing a few thousand people is going to help this sinking ship. We are about to drop 20% today. I hope they at least have a backup plan of buying back cheap shares.
@c2 the loss of productivity is huge
My team is just…done. And they are good people and good communicators and hard workers but the “re-org info will come along soon” and “all we can do is try to make friends with uncertainty” (yes some d-mb@ss manager literally said that) has left people fried.
Everyone is on Slack talking about how they can’t focus and projects aren’t going anywhere.
ELT couldn’t care less. We’re collateral. The product doesn’t even matter anymore. Leaders rise to the level of their own incompetence (and beyond). This company is cooked.
Tempted just to take the rest of the week off. (Seriously.)
If Enrique waited until the very last day of August, it means things did not go as planned. Best of luck everyone! Hope you get what you wish for, either way!
@bs I couldn’t agree more. At this point being laid off may be the better option. I don’t think continuing to work for PayPal will be much better so I’d rather get paid to leave.
Also was told 4k on the 31st
@br if it were all middle management, I would think it's a great outcome. However, I know it's going to be good people like engineers who bear the brunt of this. They're clearly cleaning house to look better on paper. There's little doubt the company is going to be sold and this turnaround thing was all just posturing.
@bp I have heard from several sources that 4,000 employees are being let go on Monday. Take it with a grain of salt because this is all a game of telephone
Did we just roll the layoffs out one week? Lol. Now I’m hearing Monday the 31st. The leaders have to realize productivity is down like 50% as people just wait their fate. But this is going on a few months so that’s a lot of lost time. I don’t think they can read a room to save their life.
@bm oh the stock will dump to high 40s, low 50s. Nobody in the world has any hope whatsoever for this loser board to do anything correctly.
So many people expecting some kind of buyout lol. They are really going to keep getting disappointed. I’m afraid of what will happen when it gets announced. We can’t even do layoffs without taking months.
Who is keeping the share price pinned at $62 and why isn’t Enrique buying back faster?
@bd we had John Donahoe on our board if that says anything. That guy destroyed Nike in less than 3 years and they are still trying to recover.
@b5 no board member or c-suite over the past 5 years deserved to keep their job. The most useless leadership in the US and that is saying a lot.
@b5 it’s sad. Also, the market has been ripping and we’re stuck at this price because of a “potential” sale. I bet we would be closer to a $70 share price if Enrique was more vocal and communicative with Wall Street. This is a lot of BS to just come out in a few weeks to announce there is no deal.
The fact these guys could drive the company value down to $50B is mind boggling.
Wait until we officially announce no deal on a buyout and our stock plummets 15%. We will be back in the $40’s range by November. I hope nobody was looking to cash RSU’s anytime soon.
My friend at HP is laughing because it’s the same guy they hated. He spent his whole career at HP running a printer company and now he moved into a faces paced fintech? The move made zero sense (same with Alex Chriss). The BOD’s is the real issue and they’re just not doing their jobs well.
Nothing says “what a great leader” by stirring up the pot causing anxiety and then going radio silent for weeks. The guy is clueless and should’ve just kept his cushy job collecting checks on the Board.
He’s incompetent. Just look at the share price. It’s the only scoreboard that matters.
Something is up, just don't know what it is.