Storage and security software behemoth Symantec reported increased revenues but profits down in its first fiscal 2014 quarter, as CEO Steve Bennett's companywide reorg made some progress. Symantec's new strategy of focusing the sales firehose on service providers looks like it's beginning to pay off. First quarter fiscal 2014 …
wouldn't one reason for the lower profits
be the golden handshakes / redundency pay to those execs etc they let go? I mean I'm assuming that would come out of profits, an example of a short downturn (for redundency pay) made up for in the long run with less spending on wages to the tune of hundereds of thousands (possibly millions when you consider it's execs)
As the redundancies were made after the close of the last quarter end, I would suggest that it might be a good idea to see how the next quarter's performance stands up.
Symc management are a useless shower of c-words. They'll need to sack a lot more than 70 useless chairwarmers to turn that tanker round.
cull the sociopaths first good plan
Every management structure is going to naturally get bloated over time if not properly culled. The reason is everybody wants to hook up their buddies, the organization be damned. Groups of people act so retarded in general that I am amazed we did things like successfully build the bomb or go to the moon. Society must have been different then and the motto of groups wasn't none of us are as dumb as all of us.
Symantec pats itself on the back for being marginally less crap than it was last quarter.
The cull should have been far greater, anyone who had any input whatsoever to the worst piece of enterprise software ever released (BE 2012 as Symantec call it) should replace the Sirius Cybernetics Corporation's marketing department in being first against the wall when the revolution comes.
BE 2012, it is so poor, when talking to a Symantec tech support bod, they told us to stay away from it!
Commvault is the solution you are looking for...
Working for a master partner reseller (only a handful in the UK) we have a lot of exposure to the insides of Symantec. There's been a lot of change, and I'd say 80% of it for the better. There is SO much middle management; you get one person who's in charge of two people who's in charge of 3 people who's in charge of 1 person. Most of the chaff has been removed, but some wheat has gone with it unfortunately.
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