- Joined
- Apr 25, 2020
Happens all the time actually.A while back I worked for a mid size company where the (actually OK) CEO was ousted. He’d created the company from the ground up and was a decent bloke - I used to know his secretary, never a bad word said about him, suspect secretly based due to a few things I heard.
Anyway, he ‘leaves to spend more time with the family’ and company gets a new MBA type flown in and immediately goes full DEI but in such bizarre ways. They started putting policies in place that were cartoonishly bad for us and people started leaving. Share price just tanked, and ended up about a sixth of the high. They started firing everyone good high up and then I realised they were just reducing the age bill so it looks cheaper on paper and running it into the floor to be bought up cheap. I got offered a new job elsewhere and took it, and two weeks (lol) later they got bought out by some private consortium. They paid about 20% of what the company had previously been worth. Shareholders got fucked completely, they got pennies on the dollar for their shares in the buyout.
I remain convinced that the entire thing was a deliberate ploy to drive the wage bill and the worth right down so it could be bought cheap. it was a very interesting thing to witness from inside. I have absolutely no doubt that it was a controlled demolition and that this kind of thing happens quite a bit
Your company failed the vetting process if they let her in, or someone got paid out nicely.