CEO Matt Proud delivered a pair of tough messages to employees on Thursday: those who aren’t willing to work five days in the office should leave. Then he announced he would be cutting an undisclosed number of jobs anyway.-based software company said all of its workers would have to return to the office on a full-time basis starting Feb.
But hours later, as part of an earnings announcement, Dye & Durham said it would be cutting costs by 10 per cent, and that some of those cuts would involve jobs. On an earnings call with investors, Mr. Proud said that the largest cost the company had is people, so it would be “letting people go”.In an interview with The Globe before the earnings announcement, Mr. Proud said he realized, in recent months, that full-time, in-person work was a prerequisite for “building a better business.
When asked why so many Dye & Durham employees preferred to work from home, Mr. Proud said that he could not speak for his staff, but that he expected a number of employees to leave the organization in light of the policy change. But lately, tech workers may have seen that leverage slip away. Across the country, high-profile companies in the sector, including e-commerce platform Shopify, fintech company Wealthsimple Technologies Inc., and the social media management company Hootsuite Inc. have all shed hundreds of jobs, a result of declining tech valuations after years of frothiness.
Love it when the Millennial bosses morph into the hated-boomers.
What a cheap argument to fire people instead of laying them off... Also 'In total, Dye & Durham will buy back $196-million worth of stock, said a company spokesman. That amounts to at least 18.5 per cent of the shares outstanding.'
globebusiness Here it comes, get back to office!!!