Hello to people who were part of the companies that Thoma Bravo acquired. How was the transition, where there a lot of layoffs? How did they compensate the employees? Were there stocks given? #ellieMae #sophos #medallia #apptus #dynatrace #sirius #venafi
Get out. Seriously, get out. First hand experience, they're incredibly unethical, and I will go out of my way to never work at a TB acquisition ever again.
Almost there
When you say unethical, what kind of stuff? I’m worried they won’t actually pay out vested but unexercised stock options. Maybe that’s illegal after it’s in writing, but where’s the line on their previous actions?
Have found TB acquisition really energizing. Going private allowed deep investments in the right parts of the business while trimming the fat. Lost some good folk as part of restructuring and some parts of the biz now stretched, but margins are now great and the company has a really positive culture and is growing in the right places. Was given phantom equity grant that vests at liquidity event…all employees could also join a co-invest program to buy equity on the same terms as TB
“Energized” to find a new job after yours gets sent offshore is more accurate.
We are in the process right now. The deal is going to close very soon.
I think their business model is to hire as much as they can in cheaper countries so doesn't look like a good place to be in US
If you’re at a company that is being acquired, start dusting off your resume and leave. Thoma Bravo always does a 15-20% RIF a few months after the deal closes. This is followed by high rates of attrition by disrespecting the talented staff that stay and moving any new engineering jobs to offshore vendors. +1 to the person above who said they actively avoid companies owned by private equity firms. Any signing bonus is not worth the hassle of dealing with these spreadsheet jockeys.
You mentioned RIF after a few months, is it generally after 1 quarter of deal closing? For us, the deal is going to close in last week of Aug.
The company I was at had the RIF the quarter after the deal closed.
There will be a layoff but there will be opportunities if you’re good and you stay. I probably stayed too long but I rose to a senior leadership level due to attrition, re-orgs, and knowing my shit and was able to move to a senior role at a fast growing public company that wouldn’t have been possible otherwise.
Chaos is a ladder!
I have a job offer at proofpoint and They are saying there wont be layoffs. Should I trust the word or simply not accept the offer?
I think you have got the answer in your other post.
😃
20% retention bonus to stay one year. No stock to the common people
Were everyone given retention bonus?
Everyone had to sign a non disclosure contract but so far I have not heard of anyone who was not offered this bonus