What would any of you do if you decided that the company you managed was finished? If you only cared for yourself, you would give yourself and your cronies fat comp plans, with long term severences and wait for a buyout or other form of disposition that would trigger your package. Why not hold on and hope the stock price goes up? Does anyone believe that will ever happen? Or that holding onto the stock is better than selling out and investing in a company with better upside potential? As always, I may be wrong, but it seems the only "win-win" here is for the folks screwing this thing up.
"The finance operations have faired much better than IT"
I have to point out this statement may be the understatement of the year. Kforce was out of the IT race right after the year 2000. From what I understand, the IT divisions have 0 or 1 or 2 people and their major job is to just show the flag more or less. The revenue for IT has been dried up for several quarters. As a poster mentioned, you can not go from a $200,000 salary to a minimum wage $22,000 wage in a year and expect to survive in today's economy. After the embarrassing numbers on Wednesday, I do not see many ProKforcers talking about growth or are we gearing up to somehow explain why a company has a $100,000 profit one quarter and then a $45 Million dollar lose the very next. Just how did this happen? Iraq? India? Or could it be a result of the countless empty chairs which consume the offices character? Kforce save the "positioning ourselves for future profits" speech. We have heard this speech countless times and the speech has no effect on anyone anymore. The $1 gross margin call center revenue can not be helping the revenue line. Switch to Health care, no wait, IT, no wait, Flex, no wait call centers, no wait, blame H1B, no wait, blame Iraq, no wait, when does it end Kforce. Somone mentioned new management, another eye popping suggestion. Kforce needs more then new management. They need a lube and a spritz to save this company. The company needs to overhaul to the 10th degree all the way down to the receptionist who answers the one inbound call each day.
With the distruction of H/S, the dried up lilly pad of IT and the call center lead Finance division, the company needs an entire face lift one in which DD has neither the committment for nor the energy to give such a project.
$45 Million Dollar lose, how embarrassing. Ybor salary increases and bonuses regardless of these numbers? Well, it is good to see somone is getting paid at Kforce.