Symantec has twice as many managers as the typical tech company!
Just some items of note I've found interesting from the past 36 hours.
From one of the press releases and comments from Bennett, he indicated that Symantec managers/directors/execs average 5 direct reports, which is half of what comparable companies' management has. Thus, we can see enormous amounts of bloated fat aka Sym-management to be cut, to the tune of half of management. No doubt managers at all levels have been busy udpating their resumes and job sites, networking, and getting their moving boxes ready to go. Although, some sentiments are that there will simply be a lot of attrition as well, with people leaving and no replacements brought in. There was some other slide or note in the press release that indicated that managers at the company went up by 34% last year in sheer number of them, versus something like .02% of grunts/rank and file/individual contributors.
Also, given the ridiculous amount of sales people the company has, roughly 7000 versus something like 5000 engineers, there will probably be a lot of losses in sales as well, or simply attrition again. Estimates from the rumor mill are anywhere from a couple thousand to upwards of 7 or 8 thousand will be culled, or at least no longer working for Symantec, come the end of the year. Everyone imagines little to no work getting done over the next few months, given the turmoil as top dogs pick and arrange their teams and it rolls down from there.
Congrats to Francis, who won out over Chaffin, although his big meeting today was fairly uneventful. Unfortunately nobody asked either Steve or Francis why there are so many shiftless, good for nothing polesmokers and brown nosed, sychophantic, snivelling little yesmen (and yeswomen), like the bozo on the Francis call from Net Backup today who threw the question that was nothing more than a brown nosing attempt to save his useless job from the axe. Sad, sad, sad...
Unfortunately, we the frontline, individual contributor, rank and file grunts don't get to decide which managers stay and which go. There is absolutely no shortage of sh!theads in management that have advanced well beyond the best of their capabilities (usually on the level of assistant managers of convenience stores) and really deserve to be living under an overpass and panhandling at offramps.
Believe it nor not, the ratio is not 5:1, it is actually 3:1. Impossible to comprehend how the company was allowed to degrade to the shareholder-draining fiasco it did under Salem. And the Board sat by and did nothing all the while.
"The former head of Intuit Inc and a General Electric veteran would not say how many managers would be laid off, but managers at his company on average have fewer than five people reporting to them among the comany's 20,000 employees. That is about half as many as managers at a typical company, he noted"