<<260K/year revenue per employee goal
220K/year goal expenses per employee>>
So that means of the 6000 employees remaining, the average pay is $220K annually. I wonder what the least paid employee makes? Since we already know what Tom made exercising options , it might make an interesting comparison.
<<headcount will be reduced to 6000 from 7164
will reinstate MBO bonuses and merit increases
headcount will be where it was in mid-2000>>
Just a guess, I think they might announce more layoffs by the end of the current quarter.
From the CC:
Total shares outstanding increased by 33M shares(further dilution) this quarter.
20MM were employee stock purchase plan.
The balance(13M shares) were granted options
<<Charge in 3rd qtr for severance and consolidation as much as 25mm cash expense
200mm charge in 3rd qtr for excess facilities, noncash
>>
Did they write off the kitchen sink with all that?
<<TOM:
Tom feels outlook going forward must be subdued
General mkt for IT extremely weak. Geopolitical risk, acct scandals all kinds of weakness.
Not much business at all.>>
conveniently, he didn't mention the outrage by the investing public towards CEOs taking excessive pay and/or options packages!
<< In 2001 Sebl decided to carry 1500 excess people to maintain for the anticipated upturn.
Bonuses were reduced to keep these people but now they must be cut.>>
"But now they must be cut."
And at the same time, Tom got $175M in stock(which is sold) at a cost of pennies(at most) per dollar.
I'm not suggesting the two are directly related, I understand and appreciate downsizing to make things more efficient. But $175M in compensation for last year?
Look at what he did for shareholder value in '01 !
Did that merit $175M paycheck?
<<Sebl will focus on cash flow positive business, >>
Yep, I heard that about five times on the call.
IMO, just another way of saying pro forma BS
<<CRM remains a top IT priority>>
Yeah, I almost had tears(of laughter) in my eyes when he told the story of the CEO of a "major automobile manufacture" stating to his mgmt. If CMR isn't adopted, this company will cease to exist in four years.
<<GUIDANCE
Q3 - something like Q2>>
You forgot to mention the
"Or worse."comment
<<Tom is not going to sugar coat this! >>
I heard him say that too.
Again, IMO, he sugar coated the whole call.
Not sugar coating it, but sugar coating it.
<<QUESTION AND ANSWER>>
I didn't hang around too much to listen to that part |
