Original Coward posts again...
When Sophos was on the stock market last year there was a 4% wave of redundancies, allegedly just under the threshold that required reporting to the shareholders as a separate announcement. That got rid of some dead wood for sure, and a few people who certainly did not count as dead wood.
And there's been a rigid freeze on new hires since, each one requiring board level approval. For the second year in a row no salary increases across the board. This despite the company making its targets in the last financial year (just before Covid impacted) and profit related bonuses being paid because they contractually had to do so. All no doubt to fatten up the cow for slaughter at the hands of Thoma Bravo. My only sense of revenge is that the purchase price was locked in a few weeks before lockdown and therefore TB bought at the height of the market valuation and small shareholders like myself got a decent windfall. But I that means TB have a huge buyout cost leveraged with debt. And we're paying for that.
Make no mistake, this is a *brutal* cull of the workforce. They still wants to go ahead with new projects and initiatives where the money is, fair enough, but they are throwing out a lot of skilled workers this time around and the remaining staff are reeling. It doesn't look good.
Biting the hand that feeds IT
