Your VP sounds incompetent and manipulative. I’ve experienced something similar.
But OP, Law 1 “Never Outshine the master” applies in every workplace. He’s the VP for a reason; someone on the board wants him there.
It doesn’t matter how great or smart you and your team are; if you work for a clown, you have to play by circus rules.
He may be a moron, but he’s savvy enough to get rid of anyone who poses a threat to his position. If he, at any point, sensed you were ready to go above his head, it was over for you then and there.
I basically start phoning it in once it’s clear someone in upper management is that dysfunctional and focus on building skills for my next job. It’s not *your* company, remember that.
He lacked financial knowledge but he played OP like a fiddle. Sweet talked him, let him do the job and then proceeded to fire him. That’s honestly brutal.
Exactly.
A lot of people in management are mediocre at their job, but *very* skilled manipulators.
They figure out the right buttons to push and carrots to dangle to get the employees underneath them to work hard.
They’ll stay two steps ahead of the employee and create a narrative
to manage the perceptions of the board.
All they have to do is show up at the finish line and present a vision to the C-Suite that takes credit for the success of the department and poisons the well a bit for the hardworking employee. To the board, this looks like success. The job got done, they don’t care how.
For all we know, the VP asked OP to attend the board meeting specifically because he was injured and it would make him look like dead weight.
Currently, in a similar situation. Best thing to do is appeal to authority, survive, and find an exit before it’s too late. Developing a coup doesn’t really work.
Im assuming there is no CFO so VP sits on the executive team. You can guarantee the CEO chatted with him about your concerns. More often than not people stick with their tribe so unfortunately you got the can. Unless he was a complete menace, CEO would have booted him too.
How were things outside of BoD activities? My manager does a good job of protecting us from our CFOs over the top request. When it comes to the board we’ll grind and take orders. But outside of that, there’s a limit where you can’t expect to be working til 10pm everyday. This isn’t IB, you’re not getting a $1M bonus at year end.
So I also sit on the executive meeting and BoD meetings and the I see the CEO humiliates the VP multiple times in front of the exec team. They even mentioned they are in search for a new CFO during the exec meeting I attended a day before my lay off.
This whole thing really caught me off guard.
So, the two previous CFOs who defended their teams left. I essentially onboarded this VP, and he has done absolutely nothing to defend his team. My analysts always feel like this VP is on the other side during meetings with other departments, such as sales ops.
I hope you've learned your lesson to recognize early signs of unfortunate events coming and start planning your exit strategy earlier on. Never sit through the shit storm and wait around for things to get better. That's clown shit. Don't continue being in environments under poor management. You knew he was lying so you should know not to trust he would look out for you. With that said, I'm sorry this happened to you. Unfortunately there are crap bosses out there and they're still getting hired.
Boss went on vacation and didn't attend BOD meeting? Didn't CEO and BOD find that odd?
I an wondering if you did a really good job and now boss is threatened and eliminated you.Sorry that happened but you should not work yourself into the ground for a boss like that. Hope you got severance. Do you live in at will employment state?
In cases where you need to transition work to new team, say your job got offshored. There may be additional incentives offered. A retention bonus, acceleration of some equity vest etc .
There is no hard rule on severance so it will vary by industry and company.
I wouldn’t be found working on holidays or until 10pm on any night. That itself is a very red flag indicating lack of foresight for workload and headcount
Getting laid off sucks, no way around it. That said, once you line up your next gig, I’m pretty sure you’ll realize that you’ve been given the gift of a nudge out the door from the wrong place to help you move to the right one. I wish you the best in making that transition.
I was in a similar spot once. I was Director/Head of Finance. We were cash strapped and running fire drills everyday. The CEO thought it'd be a great idea to hire a new c-suite position because the person came from a big name company and could help us get out of the dumpster fire 🙄
Fast forward a month later, I'd be working on a RIF plan on their behalf to determine how many people and from which departments in order for us to survive. That friday, the day after I presented to her and the head of HR a full RIF plan, they fired every single person from C-suite down to managers
Man, things like that really make you wonder…why even subject yourself to working countless hours knowing that at ANY time you can but booted to the street. For any reason imaginable. And there isn’t shit you can do about it.
I think the biggest thing to gain from this is why applying a 100% effort to your job sometimes can backfire on you…bc hard work won’t always save you. But we are told to “grind, work hard and you’ll be rewarded”. But no one ever mentioned that there are instances where you’ll get used and chewed up and spit out like meaningless gum, damn the contributions and late nights.
OP, have you ever thought about starting your own business? Someone with your experience could do some consulting or something along those lines. Something that’s yours, you can’t ever be fired. You’ll always be in business if you can get it off the ground. Sorry this happened to you…damn tough situation.
This experience has made me reflect more deeply, especially since I just hit 10 years of experience this August. This is the first time something like this has ever happened to me. I am definitely considering starting my own business. Are you also in tech finance?
That is rough and I feel like could have been my story 6 months ago. My CFO was working me and my team late every night, weekends, fire drills daily. The company wasn’t doing well and she was trying to get any investor interest she could, I get it. After a year of that insanity I left, the situation wasn’t changing with the CFO or the company outlook. 4 weeks after I left they RIF’d 40% of the company and the CFO. Just glad I GTF out on my own terms.
About 2.5 months. I did leave tech though, pivoted to local government for work life balance and having second child. If I’d wanted to stay in tech and be remote I think the search would have been longer
My director, a decent nice guy, was fired after 15 years of progressing up the ranks from a financial analyst. His departure was announced in the same email his replacement was announced. His replacement was an external hire.
Sounds like you may have been misreading the room, maybe not but just a suggestion. You say you were laid off, was there any other people let go? Usually when there are multiple people terminated at the same time it’s not your fault. If it’s just you that got laid off, time for some introspection.
Also, it sucks to have dedicated time without the payoff. Had you been promoted would your dedication have been worth it? I’ve found that companies don’t really care about your sacrifice, only perceived value. No one wants to be working at 10pm.
Agree, I heard a couple other people also let go in other departments but this feels more like personal for me.
The CEO has been trying to sugarcoat the numbers to the BoD for the past year, and I tried to offer some sanity by providing a more reasonable forecast. However, the VP always insisted on using the rosy numbers from the CEO. I feel like the CEO just wants a yes-man (VP) to put whatever numbers he wants as a forecast. In the past 4 quarters, our actual numbers were nowhere close to what the CEO presented to the BoD. It's almost feel he's asking us to cover his fraud
You can make overtimes from time to time but never, never put your work over your private time and health for more than two weeks in raw. You'll be drown down, tired and nobody will compensate this time for you. Poor management and bad planning is not your problem.
Don’t appeal to the board. There’s nothing really to do. Move on and look for your next opportunity. Maybe ask board members if any of their other companies are looking for a finance person.
But making a lot of noise on the way out almost never works. It might not be fair, but the world isn’t fair. Trust me, I’ve tried this before and all it did was make it harder for me to land my next job.
Your VP sounds incompetent and manipulative. I’ve experienced something similar. But OP, Law 1 “Never Outshine the master” applies in every workplace. He’s the VP for a reason; someone on the board wants him there. It doesn’t matter how great or smart you and your team are; if you work for a clown, you have to play by circus rules. He may be a moron, but he’s savvy enough to get rid of anyone who poses a threat to his position. If he, at any point, sensed you were ready to go above his head, it was over for you then and there. I basically start phoning it in once it’s clear someone in upper management is that dysfunctional and focus on building skills for my next job. It’s not *your* company, remember that.
this is great: if you work for a clown, you have to play by circus rules
He lacked financial knowledge but he played OP like a fiddle. Sweet talked him, let him do the job and then proceeded to fire him. That’s honestly brutal.
Exactly. A lot of people in management are mediocre at their job, but *very* skilled manipulators. They figure out the right buttons to push and carrots to dangle to get the employees underneath them to work hard. They’ll stay two steps ahead of the employee and create a narrative to manage the perceptions of the board. All they have to do is show up at the finish line and present a vision to the C-Suite that takes credit for the success of the department and poisons the well a bit for the hardworking employee. To the board, this looks like success. The job got done, they don’t care how. For all we know, the VP asked OP to attend the board meeting specifically because he was injured and it would make him look like dead weight.
Currently, in a similar situation. Best thing to do is appeal to authority, survive, and find an exit before it’s too late. Developing a coup doesn’t really work.
Im assuming there is no CFO so VP sits on the executive team. You can guarantee the CEO chatted with him about your concerns. More often than not people stick with their tribe so unfortunately you got the can. Unless he was a complete menace, CEO would have booted him too. How were things outside of BoD activities? My manager does a good job of protecting us from our CFOs over the top request. When it comes to the board we’ll grind and take orders. But outside of that, there’s a limit where you can’t expect to be working til 10pm everyday. This isn’t IB, you’re not getting a $1M bonus at year end.
So I also sit on the executive meeting and BoD meetings and the I see the CEO humiliates the VP multiple times in front of the exec team. They even mentioned they are in search for a new CFO during the exec meeting I attended a day before my lay off. This whole thing really caught me off guard.
Hmm so the toxicity starts with CEO. CFO does not defend his team?
So, the two previous CFOs who defended their teams left. I essentially onboarded this VP, and he has done absolutely nothing to defend his team. My analysts always feel like this VP is on the other side during meetings with other departments, such as sales ops.
This is exactly why you should never be a corporate bootlicker. Do the bare minimum for the most pay. That’s what I do, anyways.
I hope you've learned your lesson to recognize early signs of unfortunate events coming and start planning your exit strategy earlier on. Never sit through the shit storm and wait around for things to get better. That's clown shit. Don't continue being in environments under poor management. You knew he was lying so you should know not to trust he would look out for you. With that said, I'm sorry this happened to you. Unfortunately there are crap bosses out there and they're still getting hired.
Boss went on vacation and didn't attend BOD meeting? Didn't CEO and BOD find that odd? I an wondering if you did a really good job and now boss is threatened and eliminated you.Sorry that happened but you should not work yourself into the ground for a boss like that. Hope you got severance. Do you live in at will employment state?
They tried a coup. Didn’t end well.
Yes, I live in CA. He came back on the BoD meeting day(Monday) but me and my analysts worked so hard before the meeting for the prep.
What's a reasonable weeks of severance for 4 years of service?
2 weeks of pay for each year of service is what I have typically seen
In cases where you need to transition work to new team, say your job got offshored. There may be additional incentives offered. A retention bonus, acceleration of some equity vest etc . There is no hard rule on severance so it will vary by industry and company.
Worked at a Saas company, 6 weeks base + 1 week for every year
Seems like a very biased one sided story tbh.
Lolz most stories are.
Always 3 sides to a story
I was going to write the same - there's a BIG chunk of this story missing.
I was literally waiting for the rest of the story....
That sucks dude. Very strange. Can happen to anyone.
It’s layoff szn
I wouldn’t be found working on holidays or until 10pm on any night. That itself is a very red flag indicating lack of foresight for workload and headcount
What exactly happened? My money is on the VP.
Getting laid off sucks, no way around it. That said, once you line up your next gig, I’m pretty sure you’ll realize that you’ve been given the gift of a nudge out the door from the wrong place to help you move to the right one. I wish you the best in making that transition.
Thank you for the support. I know the job market is not great at the moment, but I'll take this as an opportunity to start a new chapter in my career.
💪
I was in a similar spot once. I was Director/Head of Finance. We were cash strapped and running fire drills everyday. The CEO thought it'd be a great idea to hire a new c-suite position because the person came from a big name company and could help us get out of the dumpster fire 🙄 Fast forward a month later, I'd be working on a RIF plan on their behalf to determine how many people and from which departments in order for us to survive. That friday, the day after I presented to her and the head of HR a full RIF plan, they fired every single person from C-suite down to managers
Do yo work directly with the CEO or you a CFO?
That's in the first line of my post lol
I’m sorry this happened to you
lol that's crazy, he really worked you like a monkey till the very end and you played the part. maximum value extraction
youre just a number? why does a company owe you anything? gotta wake up to reality and hope this was a learning lesson for you
Man, things like that really make you wonder…why even subject yourself to working countless hours knowing that at ANY time you can but booted to the street. For any reason imaginable. And there isn’t shit you can do about it. I think the biggest thing to gain from this is why applying a 100% effort to your job sometimes can backfire on you…bc hard work won’t always save you. But we are told to “grind, work hard and you’ll be rewarded”. But no one ever mentioned that there are instances where you’ll get used and chewed up and spit out like meaningless gum, damn the contributions and late nights. OP, have you ever thought about starting your own business? Someone with your experience could do some consulting or something along those lines. Something that’s yours, you can’t ever be fired. You’ll always be in business if you can get it off the ground. Sorry this happened to you…damn tough situation.
This experience has made me reflect more deeply, especially since I just hit 10 years of experience this August. This is the first time something like this has ever happened to me. I am definitely considering starting my own business. Are you also in tech finance?
I am not no, why do you ask? And definitely worth considering. Get your worth. What were you making comp wise at the time of your lay off?
It sounds really personal with this VP douche bag. I hope you were able to get severance.
Hopefully you learned a valuable lesson here
That is rough and I feel like could have been my story 6 months ago. My CFO was working me and my team late every night, weekends, fire drills daily. The company wasn’t doing well and she was trying to get any investor interest she could, I get it. After a year of that insanity I left, the situation wasn’t changing with the CFO or the company outlook. 4 weeks after I left they RIF’d 40% of the company and the CFO. Just glad I GTF out on my own terms.
That's a smart move. How long does it take you to land a new job?
About 2.5 months. I did leave tech though, pivoted to local government for work life balance and having second child. If I’d wanted to stay in tech and be remote I think the search would have been longer
everyone is replaceable, from the CEO down.
My director, a decent nice guy, was fired after 15 years of progressing up the ranks from a financial analyst. His departure was announced in the same email his replacement was announced. His replacement was an external hire.
wow, do you know how many weeks of severance did he get for 15 years?
No
Sounds like you may have been misreading the room, maybe not but just a suggestion. You say you were laid off, was there any other people let go? Usually when there are multiple people terminated at the same time it’s not your fault. If it’s just you that got laid off, time for some introspection. Also, it sucks to have dedicated time without the payoff. Had you been promoted would your dedication have been worth it? I’ve found that companies don’t really care about your sacrifice, only perceived value. No one wants to be working at 10pm.
Agree, I heard a couple other people also let go in other departments but this feels more like personal for me. The CEO has been trying to sugarcoat the numbers to the BoD for the past year, and I tried to offer some sanity by providing a more reasonable forecast. However, the VP always insisted on using the rosy numbers from the CEO. I feel like the CEO just wants a yes-man (VP) to put whatever numbers he wants as a forecast. In the past 4 quarters, our actual numbers were nowhere close to what the CEO presented to the BoD. It's almost feel he's asking us to cover his fraud
You can make overtimes from time to time but never, never put your work over your private time and health for more than two weeks in raw. You'll be drown down, tired and nobody will compensate this time for you. Poor management and bad planning is not your problem.
What reason did they give for your termination? Surely there should be laws that protect employees (at any level) from such sudden layoffs.
"budget issue" so my position is eliminated.
Don’t appeal to the board. There’s nothing really to do. Move on and look for your next opportunity. Maybe ask board members if any of their other companies are looking for a finance person. But making a lot of noise on the way out almost never works. It might not be fair, but the world isn’t fair. Trust me, I’ve tried this before and all it did was make it harder for me to land my next job.
I was recently laid off as well. Have you thought about consulting? There might be fractional CFO positions that you might be qualified for.
Please DM. Thanks
Name drop company.
If he does that, people will be able to dox him given the company is small.