Still lots of love for Veritas
Ain't that the truth
I'm here all week, please tip your waitress
Symantec execs will line up under the classic security or information management divisions from April Fools’ Day – no, seriously – amid talk that senior management may revive the Veritas storage brand. Weeks ago, El Chan revealed UK boss Simon Moor had upped sticks and left Huw Owen, head of EMEA, in temporary charge of local …
pheww i saw this nightmare coming... I left just in time... People have been jumping ship continuously for the last 1yr.
The last senior leader with half a brain was the previous CEO who they fired, becuase he wanted to do it properly and not bow to wall street pressure.
In the real world, companies that break themselves up generally do so to line the pockets of the insiders in control. Part of that process (of lining their pockets) involves freeing up capital to pay themselves. And again, generally speaking this is done by the who sale firing of a very large percentage of the work force. It is quick, painless (to the insiders) and incredibly simple. Naturally most of the "insiders" who are behind all this will quickly and quietly fade into the night after the deed is done. The problem with all this of course is also very simple; In the process of gutting the company's workforce, the money saved, which should have gone back into the company, goes instead into the pockets of the insiders. What is left is usually just a shell of the former company. After a year or 2 it will be sold for pennies on the dollar. (often to the same group that plundered it, and left it for dead) Of course some companies are so huge that this process is done on a smaller scale repeatedly without noticeable effect to the casual observer; HP comes to mind. But the truth is that HP today is barely a shadow of its former shelf. But witness the fact that a multitude of insiders over the years have walked away with what adds up to billions in share holder equity.
Which brings me to my final point; the money that is lining the pockets of those concocting these "deals" does not belong to them, it belongs to the share holders.
> at risk of redundancy ten days ago, and are believed to number tens of thousands of individuals.
Me thinks that's a big fat exaggeration or blatant error. Would make it a 40% RIF.
http://www.symantec.com/en/uk/about/profile/business.jsp has ... More than 21,500 employees worldwide.
That's a bit unlikely.