Management Catastrophe Under CPTO John Basmadjian
Pros
Talented Peers/Team Environment: The people who remain are highly intelligent, dedicated, and collaborative.
Cons
Pattern of Instability and Talent Exodus Serial Redundancies: The company has endured a prolonged period of trauma, beginning with three consecutive waves of forced redundancies. This systemic instability severely eroded morale and capacity before the current crisis even began. Final Blow Under New Leadership: This fragile foundation was completely shattered by the recent Voluntary Redundancy Program (VRP). The VRP, managed under the direction of the new C-suite, including Chief Product and Technology Officer John Basmadjian, was a profound strategic error. It resulted in the unintended and mass resignation of high-value employees whom the company desperately needed to retain. 📉 Reactive Crisis Management Desperate Measures: Management, particularly in the Product and Technology organizations, has now realized the disastrous impact of this talent exodus. Their reactive solution is to offer short-term contract extensions (e.g., one quarter) to resigning, business-critical staff to complete urgent work. Unstable Future: This approach is both costly and highly unstable. Employees understand the company's desperate situation and are leveraging it to either demand exorbitant fees for temporary retention or simply walk away immediately. This demonstrates a deep failure of strategic foresight and puts the company's long-term technical deliverables at severe risk under the current leadership.
