PE chop shop that buys a company and tears it down from the inside out. All about their 'operating principles', which makes everyone expendable (and frankly doesn't work with complex products or sales cycles). They acquired us (Yellowfin BI) and immediately sent a memo saying all bonuses, PTO, benefits, etc. are canceled until further notice and there was very little communication after that. What little communication we had was either robotic and inherently negative (things like our issues weren't a priority for them) or laced with sweet but hollow words. "Yes we want to retain all of the sales team!" but wouldn't put it in writing or even send an email with that verbiage. Explicitly said no raises would be given for those who stayed, despite some of our key resources being underpaid and salivating at the open market. They gave all senior leadership walking papers and were slow and anemic to respond to requests for support from sales.
Many of us suspect they did all of this on purpose to scare people into quitting to avoid severance/unemployment. It's baffling why they would pay a substantial amount of money for a company and then immediately tank the value of it by tossing aside the people who made that valuation possible in the first place... but it seems to be working for them!
Maybe it gets better once the dust settles, but nothing I saw indicated that. I am biased - Yellowfin was an incredible team of people with tremendous momentum, truly the best job I've had. Idera is the emotionless, expressionless stump grinder that is quickly destroying everything that made us worth buying in the first place.
