$65m to $90m of which has been set aside to cover EXECUTIVE employee severance payments.
Citrix has initiated a "Restructuring Program" under which the company will reduce headcount and close some offices. The Register understands that staff around the world have already been let go. The application streamer on Monday emitted a regulatory filing that detailed a plan that includes "elimination of full-time …
"The CEO also described "cash flow headwinds" that came from colossal commissions owed to salespeople who cashed on in COVID-created demand for Citrix's remote working wares. Those payments – about $100 million worth – made for lower margins."
Surely if the salespeople sold a shedload more licenses and are due the commissions, the company should be getting more revenue, especially with the subscription model they have now.
Are the salespeople offering massive discounts on large volume sales but trousering the same commissions?
Is that everything they do can now be done either cheaper and/or better and they've struggled to innovate for a long time now.
And when they have come up with innovative tech (anyone remember XenClient? A true, bare-metal, desktop hypervisor which was a godsend for people who work on multiple accounts) they have a tendency to drop it and/or sell it off.
Add to that their habit of rebranding their technologies again and again and again, so it becomes ever more difficult to know what does what then it's just not a good recipe.
Biting the hand that feeds IT © 1998–2022