Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I can't paste a link, but if you go to the Secretary of State site and search, you'll see that SAS has about a hundred VPs, and other officers. I imagine they will make out pretty well. Shows they have 100,000 shares of stock so it will be interesting if they've been giving people anything all along or they only now start dolomgmout shares/options that will be worth something if they IPO.
If they're positioning themselves to be public, that's a major shift. It means cost-cutting will be a high priority as they need to drive profits and PPS to be attractive to shareholders or a new owner for M&A. RIFs are often used as that's the fastest way to decrease expenses on a global basis.
If they're positioning themselves to be public, that's a major shift. It means cost-cutting will be a high priority as they need to drive profits and PPS to be attractive to shareholders or a new owner for M&A. RIFs are often used as that's the fastest way to decrease expenses on a global basis.
Don't hold me to the exact number as I didn't really count. Could have been 90.
If they're positioning themselves to be public, that's a major shift. It means cost-cutting will be a high priority as they need to drive profits and PPS to be attractive to shareholders or a new owner for M&A. RIFs are often used as that's the fastest way to decrease expenses on a global basis.
Is that top heavy though? SAS has 15K employees?
Assuming VP is a title that actually means something at SAS, unlike say a Bank (I was a VP at a bank 10 years ago; VP is the third lowest title once you make it to Officer)
The C-Suite at my last company (who has a pretty robust M&A Practice) is 44 people (in a company of 600K). One level below C-Suite is the layers of Sr./Managing Directors...and there are tons of them. Just last December there were almost 800 people promoted to MD or Sr. MD. There are probably 6000-7500 MDs in the entire company.
So if I assume MD and above @ my old place is VP and Officers at SAS
~100 VP and Officers / 15K employees = .667%
7000 / 600K employees = 1.16%
In short, I don't have a true apples to apples title alignment. But a good portion of my last employer's business was M&A and Management Consultancy helping companies cut people loose and are huge proponents of eating their own dog food. And their "officers" make up 1.16% of their head count....twice the rate at SAS.
I guess we'll see how it unfolds and what they do with RIFs. There's always RIFs at some point in the process, or voluntary separations for those who are close to retiring or are ready to move on.
I guess we'll see how it unfolds and what they do with RIFs. There's always RIFs at some point in the process, or voluntary separations for those who are close to retiring or are ready to move on.
No no, I agree there. There were a bunch of those at my last client after they rolled in an aquisition all the way down the food chain.
SAS is not a young start-up looking to tap the equity markets to enter a phase of rapid expansion. This sounds like a capital raise being done to buttress the position of a mature company and stick around.
I don't know how the market reach of SAS compares with other rising stars of their time, like Essbase, Informix, and Sybase. But there are so many examples of medium sized DB fish that get acquired when they are a few decades old and no longer nimble.
And besides shares that are sold at IPO, it also facilitates subsequent liquidations via selling windows and 10b5-1 plans.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.