Cobalt is currently a complete financial disaster. It's astonishing that they've managed to survive this long without resorting to another round of layoffs, given the extent to which they are recklessly squandering money. The CFO and CEO really need to take a step back, reassess their priorities, and acknowledge the mistakes they've made. They should bear the responsibility for the decisions they've taken rather than blaming the economy or external factors. It's clear that they are the ones driving this company into the ground, and there seems to be no end in sight. Many employees within the company have expressed concerns about Cobalt's actions, yet they still chose to spend an exorbitant sum of $250,000 on hiring a new chief people officer, this salary was public knowledge through the job description posted by Cobalt on their own website. Additionally, just last month, they decided to send all the executives and customers on a trip to Iceland, which became public knowledge through a LinkedIn post boasting about the holiday by the CEO. I highly doubt that Cobalt will survive beyond the end of this year. There is a complete lack of compassion and understanding within the company. The recent layoffs were executed without any notice or transparency. Those affected had no idea, and the rest of the employees were kept completely in the dark about any changes happening within the business. Severance agreements are tied to individuals keeping quiet. It was as if you received a meeting from HR, attended it, and then suddenly found your access disabled just five minutes later. I had joined Cobalt several years ago, and I had hoped to stay and contribute to the company's success. However, in 2023, that dream has been shattered. The organization is rapidly declining, and it's impossible to predict what lies ahead. At Cobalt, employees are treated as mere resources to be utilized and discarded at the whim of the executives.
