With no warning that there was any financial difficulty, they laid off 1/3 of its workforce in the US the other day, and put Israeli HQ employees on unpaid furlough, presumably because we didn’t reach sales goals and the forecast is not good. It had nothing to do with the corona virus - it now looks like it’s been bad for a while. Only a few people in the company were aware of this, because guess what? No one is allowed to know what our revenue is, what our sales goal is, or if we ever reach it! As a private company, they are completely paranoid about anyone finding out how much the company is worth for a presumed IPO in the future (that’s not looking like it will ever happen). They are just using the virus as an excuse to conduct a mass layoff without acknowledging we are in trouble.
The company has no sales strategy and why the VPs of Sales are still employed here is a mystery to many. They just got finished breaking down walls in the Waltham office and creating at least 30% more office space, which I am sure was very costly, only to lay off the majority of the office less than a month later.
When I joined this company there was a lot of promise and I felt optimistic about my future here. However, I have come to witness spectacularly bad management in the last year (at least). No one wants to make a decision, so none are made. Except the very latest one the other day, when they cut loose many talented people to save money, and provided them with little to nothing in the way of compensation or continuation of healthcare. To do that to people now, while it it is legal, is immoral and shameful. The company that claims to care about its people has shown its true colors. Executive management, who are driving this business into the ground, still have their jobs, but the rank and file who worked so hard to make it work are now unemployed. Shame on you. This is a sinking ship and I doubt we’ll make it through the year. A lot of us, including myself, are scrambling to find new jobs. Morale is horrible, to say the least. It’s just a matter of time.
