Jul 2, 2008

Today is Your Lucky Day! Massive Layoffs!

Time for the ePrize bus to let off a few more passengers. How humiliating for the people fired to be described publicly as "underperformers." But, then again, tact was never an ePrize strong suit.

Is it a bad sign that a good number of cuts came from the business development sector? And howasbout losing the COO? In all, over thirty people have been terminated in the last month, one of the biggest purges in a while, though I'm not sure how that compares with the attrition rate. The churn rate used to be something that ePrize could boast about in their sales deck but now I doubt it gets mentioned.

PS... Looks like it's time to update the website.


Anonymous said...

What was the COO doing to not perform,or can there only be one COCK in the Eprize henhouse at any one time.Interesting if sales were up , then why are the business development folks under-performing.

Anonymous said...

There were (and I'm sure still are) some really great things about ePrize. To be honest, there's a lot that's been written within this blog I find disingenous at best, but the fact of the matter is ePrize has never treated its employees with respect. Even its most ardent supporters could not, I think, argue otherwise.

ePrize has always regarded its employees as commodities to be used up and discarded when they've served their purpose. It was always baffling to me the manner in which firings were handled. People simply disappearing, folks that had been lauded one moment, lambasted the next, or like the Pharaohs of old simply erased from history by their successors.

From what I've heard this round of firings included some real veterans (Phil for example). Apparently their years of service, the late nights, the blood, sweat, tears, and toil were not terribly important in the final analysis. Then to cap it off publicly denounced as 'underperformers' by the CEO.

To be honest, though, I'm not terribly surprised.

Anonymous said...

So does anyone have the inside information, were these layoffs and cutbacks to reduce costs and debt as it does not make sense to identify around 8% of the workforce as "underperformers"

Anonymous said...

Yes- cutbacks & debt reduction. Sales are not where they should be apparently and with the board wanting to see the company they have to reduce payroll/debt.

Anonymous said...

that was supposed to say "sell" the company. Sorry.

Anonymous said...

If I knew then what I know now, I'd never have signed that specious document that ePrize uses to extort its employees on exit. "If you want your final paycheck / two week's pittance of severance, you need to sign this 'get out of jail free' card for us."

Of course, in the emotional heat of the moment -- when the rug's been pulled out from under you and you have no immediate hopes of a new job starting the next day -- you're going to sign that document. All I can say is... Wait a few days, take it to a lawyer, and negotiate the terms of an exit for more than two pitiful weeks' salary. Even if just to be a burr under ePrize's ass.

Anonymous said...

getting fired from ePrize was the best thing that has ever happened to my professional life. my one year there was so unbelievable stressful and unrewarding. it's crazy how everything happens for a reason. i have so many reasons why i hate this company and it's bizarre that i carry so much resentment, but i've never been fired from anything and i know how much of myself i put into my job there. i actually hope that this company goes under... and i think it might. as the current recession deepens and companies spend less on frivolous promotions that in the grand scheme of things don't really add much value, this company is going to feel it big time, if it hasn't already. there are some great people at this company, but the management team is pathetic.

if you're still there and drinking the cool aid, just wait until the day you're no longer there and you can actually take a deep breath and say to yourself, what was i thinking! as i said in the beginning, getting fired from eprize was the best thing that has ever happened to my professional life.

Anonymous said...

Ever notice how quick people are to blame everyone but themselves? I've been at ePrize for 3.5 years now, and I can tell you... most of the people that got let go were long overdue. I've heard way more "it's about time" than anything else.

The company is growing, hiring and doing fine. Maybe you should look in the mirror and realize that good companies have to cut dead weight to stay on top.

Anonymous said...

All I'm saying is that getting fired from ePrize was the best thing that has ever happened to my professional life. I've moved on to do much bigger and better things with my career. I was paid well at ePrize and now make over double what I was making and have half as much stress in my life. Very simply, this company was not right for me and fortunately, I was not right for them. I was not given a fair chance to succeed. Everything works out for a reason and for me it was a great learning experience... the good and the bad. I still hold a grudge and I'm entitled to. I was basically chewed up and spit out. What a way to run a company! It all worked out for the best.

Anonymous said...

Yeah, I feel very much the same way. I was devastated when I was fired but, gosh, it was the best thing to ever happen to me. I've doubled my income, work half the hours, and get the respect which I deserve.

I still feel majorly betrayed by ePrize -- especially since they keep dicking around with some paperwork from years ago (anyone know any good lawyers?) -- but that's because I was. :)

Anonymous said...

SoftCoin left at the alter, decimates salesforce

Word is running rampant throughout the company that a supposed
buyout of SoftCoin by Valassis was nixed at the 11th hour. In an
emergency effort to conserve cash, management has slashed ranks,
cutting the sales team in half, including the President (i.e. VP of
Sales), Tim Ruppert. Several key account management folks were
also victims of last week's layoff, all without a dime of

David Sze, the Greylock star web 2.0 VC has been quietly funding
SoftCoin for 6 years and holds the catbird seat on SoftCoin's
board. In an effort to save face, a pennies-on-the-dollar recovery
is all Sze and his Greylock brothers can possibly hope for.

Communication throughout the company is nonexistent, but is par for
the course for this unproven CEO (Robert Drescher). Will SoftCoin
find another qualified suitor to save it from its slow and
unfortunate fall into oblivion? Or will the company continue to
run on fumes and beat the odds as it has for the past 8 years?