So Yahoo is getting bought out of Verizon by private equity (Apollo). I work on the CDN side over here (as opposed to a Yahoo product). Can some rackspacers comment on your experience pre vs post buyout? I have been reaching my feelers out to change jobs, but a few people I respect think that this is a massive opportunity to stay and not leave yet. I am having a hard time filtering out if they are delusional or they have a point. Waiting for RSUs to cash out in a month, so getting ready to hop if so. TIA.
If you think you'd enjoy watching the soul being ripped from a company and replaced with cookie cutter executives with sport coats and plastic smiles while your friends all quit without being backfilled and worrying about being caught up in the next sweeping round of layoffs, then absolutely stay.
How was the severance plan under Apollo? The current deal is that Apollo has to follow Verizon’s severance plan(which Is pretty generously) for laid off within a year after the deal closes.
I heard it was generous early on. The last big round of layoffs they forced a bunch of people to become contractors for Tech Mahindra instead of laying them off
It is also dependent on if current ceo would stay. With rackspace, the problem started after ceo departure.
Current CEO got a three millions retention bonus to stayed for minimum of six months.
Did employees get pre ipo stock?
We all got 100 shares at ipo worth about 2k
WOW, so there were no stocks as part of your yearly compensation package?
I plan to stay and see what the future holds. Would rather make an informed decision should things turn to shit vs making an emotional decision now which I might later regret
You're not wrong at all. Severance is decent. It is easier to negotiate a new job if you're employed though, that's the flip side.
Layoffs and more layoffs
RUN.
I didn't know there was any company on Blind with a rating worse than Amazon. TIL it's Rackspace!
Damn, well that says something.