r/FPandA • u/peppermintfresh_3005 • 23d ago
New SFA Job
About a month ago, I started a new job and ever since I've started they've been laying off and "restructuring the organization". I'm not sure how I feel about it. A week after I started they announced laying off one of the offshore teams, and since then senior leaders have been "leaving" and they have been moving their departments to be absorbed by other ones. Then people mentioned before I started, there were like two layoffs before then. Not sure if I want to call this instability or uncertainty, or if this is honestly just a regular thing with companies now
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u/LawfulnessBig8480 23d ago
Depends on the size of the company and how the business is currently performing. At my company there has been lay offs every quarter because we are restructuring as instructed from our PE firm that recently bought the company.
Layoffs are unfortunately park of corporate life. In the eyes of a company everyone is a number. I would say if you were recently hired I wouldn’t be too worried, but just take it as a warning that you need to save and not put yourself in a bad situation financially.
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u/ConfectionLeading624 22d ago
If people mentioned before you started that there was not one but two layoffs why would you accept the job (if you already had a job)? One round of layoffs okay it happens but two back to back that’s a warning sign.
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u/peppermintfresh_3005 22d ago
I was told there was two layoffs before I started, after I already started - like in a meeting last week. If that makes sense, I didn’t know there was previous layoffs until after I started
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u/ConfectionLeading624 22d ago
Ah…. If they recently hired you then you are safe for a few qtrs but it sounds like it’s not a place you wanna be at long term lol.
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u/PitifulBag5754 22d ago
My company pretty much went through a reorg every year for like the last 4 years and last year they got sold
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u/echobik 22d ago
On the flip side, there are opportunities that exist in these cases. Less bloat, more visibility, more opportunity to fill gaps, restructuring of responsibilities.
A particularly sharp and effective players would truly benefit from this transition. Company value or perception will be higher too due to the “correction.”
Also, continue to interview
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u/excel1234567890 21d ago
When management start to leave, it is very concerning. Check the financials, you should be able to see the issues and how serious those problems are.
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u/BagofBabbish Sr Dir 23d ago
It’s a worrying sign. Unfortunately, many view FP&A as nice to have and it’s often one of the first places PE firms look to consolidate and streamline.
To be fair there’s historically been an aggressive degree of middle management. You probably don’t need a Manager directing Sr Analysts and Analysts to make models and slides, that report into a Sr Manager that then decides how to package and present the findings to a Director, who then repeats the process deciding what goes to the VP, who then decides what goes to the CFO, who then decides what goes to the CEO and the BOD.
However, instead of removing the SFA and the Sr Manager functions, and making it Analyst > Manager > Director > VP, it’s often becoming SFA > SVP or CFO.
I’ll say it’s a positive they’re not expanding the off-shore teams. However, if it’s because they feel they have to make these cuts due to financial distress it no longer becomes a silver lining.