genesys employees, how did private equity affect you
Looks like Zendesk is being bought by the same PE group. I have a hunch they are gonna try and merge us or something... but that's just rampant speculation on my part. Would be curious to hear if life has gotten more shitty for you post buy out? My TC was never amazing here, but the WLB was great at least. I'm worried about losing that. TC: 260 (FU Private equity $77.50 a share my ass š) #genesys #genesyscompensation #genesyslayoff
These PE firms are going to realize that SAAS revenue is not a s sticky or defensible as they thought
For the likes of Genesys thatās a bit mute, everyone has a customer experience front end, only a few can fully automate. So like a basic telco service itās required. You either are with Genesys or with a competitor. Itās a utility.
Layoffs most likely within 6 months - keep an eye out for consultants, hiring freeze, or cost cutting for signs.
DM me. Genesys went private in 2012, and the cloud division of Genesys came via acquisition in 2016 so the experience is different. Many have stuck around but many have left too. You will work 40hrs a week but WLB is still good, remote, very flexible. Pay is fair but not exceptional. Zendesk will likely get merged so make yourself invaluable.
In short a lot of the profits go back to H&F and Primera. Salaries for years were 3%, last year budget was 4.6% They did payout double annual bonuses in the last 2 years. It feels like Zendesk and Genesys will come together. What Zendesk has is a product gap for Genesys. DM for more.
+1. Zendesk will become a core piece of Genesys digital offering.
Will DM shortly. Thanks!
What is the equity compensation plan at Genesys? Any equity refresh? Wondering how it's going to work once Zendesk is acquired. I would imagine they would have to give some kind of equity/bonuses/bigger base(for the people that aren't laid off).
Equity? LOL. You'll get salary + 10% annual bonus. If you're director or higher you may be lucky enough to get a few shares with a 4 year cliff, that only pay based on a pre-determined valuation that we are currently beneath. There are many directors around Genesys with nothing.
Wow, no equity. Thanks for the info. Sounds like things will turn very ugly. Engineering comp is highly dependent on equity. They may as well layoff half the eng department cause ppl will leave anyways.
Why have people chosen to stay at Genesys given the impact from PE takeover? Are there just no better options at the time?
PE takeover happened in 2012. My experience at Genesys has been largely positive after coming from other household name tech companies. Annual bonuses have been doubled the last two years, benefits are still good, WLB is good. The only difference is no RSUs but they are pretty uncommon where I'm living anyways. Genesys allowed full remote long before covid too. It's a pretty good company to work for.
Thing is, we already have a 10% bonus plus stock (and even higher bonuses for Sr director +). So unless they increase that to like a 30-40% bonus it will be nowhere close.
Any updates on this feed? The vote just went through, itās looking like Zendesk will be acquired. How long until we can expect changes? Are certain orgs going to be impacted more over others?
Genesys just did a huge layoff. Sinking ship
They killed off a portion of the business that has been the red headed step child for 4+ years. It was very predictable and a long time coming.
While it may have been a long time coming, from what I've heard the red-headed step child services the largest Customers for Genesys - and they don't want to move. Good luck in the transition - its going to be a cluster.
Run. Your TC will be lower. Folks at Genesys donāt make 260K, š. Theyāll bounce folks like you out within two years. Thatās what they did when they took over Interactive Intelligence.
Youāre about to get laid off lmao