news GoDaddy to lay off 8% of its global workforce

[Acroplex]

Just in: GoDaddy is laying off 8% of its global workforce.

 

[jmcc]

Not good news but there is a very rough Q1 and Q2 expected in terms of domain names up for renewal. In terms of growth, the .COM effectively stalled in 2022 and there are still Covid Bubble registrations washing out of the zones.

Regards...jmcc

 

[alcy]

expect 8% commission hike bahahja

 

[forge]

Perhaps their phone antisupport will be replaced with AI.

 

[cabotower]

Perhaps their phone antisupport will be replaced with AI.

they could set it up in Zuck's metaverse
buy some land and get us to visit them at the "GDCHATBAR(D)"🍻

 

[Acroplex]

Layoffs are never good for a company, or its employees, particularly when it's not a merger that triggers this but a downsizing. Whether we like GoDaddy or not, these layoffs will hurt a lot of people, especially outside of the US where many of its customer service employees are based.

 

[M999]

This is no surprise. The CEO, Aman, has been killing this company since he took over in 2019.

Years ago, I could call and talk to a rep. who was seasoned and knew the answer, or how to fix the problem I was calling about. Not anymore.

Aman has instilled a toxic culture and has off-shored everything. Chances of getting a USA employee when calling their help line is not good. Aman’s idea of increasing net profit is by reducing costs - By firing USA employees and hiring overseas at a fraction of the cost. Aman has no idea how to increase revenue.

And this is not just my opinion. It is clear to everyone - look at the 5 year stock chart.

 

[AEProgram]

This is a wild guess. They recently offered to reduce commissions if you redirect your page to one of their servers, why?

The basic answers is, the more you send the traffic to them, the more calls they get and it can help everyone.

The issue is that one of the nameservers they let you use is dan, and on dan, it's usually just your page, your domain, no gd phone number etc.

I suspect that they are about to get into the advertising business heavily. They could roll out their own platform that lets you pay to be within the parked pages or do more with their current ad partnerships.

Between dan, afternic, godaddy and unireg landers they must get a few hundred million hits a day and and if they do things right, they could end up making more money from a properly structured ad system than from the whole godaddy combined

 

[tonyk2000]

The message says "Most impacted roles are in the U.S., affecting multiple levels in the company and every division". I am wondering how this would affect domainers business in aspects of: 1) premier service reps who are US-based. 2) systems support [afternic bugs for example], development of afternic [many things should be changed]. Also, will @James Iles still be GoDaddy liaison @ NP? With unclear duties, it is not obvious. Returning to "trusted blogging" may not be easy in fact, one of his niches (reviewing NP posts on NP) is already occupied.

 

[Namingfy]

Layoffs are never good for a company, or its employees, particularly when it's not a merger that triggers this but a downsizing. Whether we like GoDaddy or not, these layoffs will hurt a lot of people, especially outside of the US where many of its customer service employees are based.

I see the other way around.

The cost of retaining non-US employees would be cheaper than that of US Employees. As a rule of thumb, all non-critical employees who're costly will be fired first. And in most cases they'll likely be replaced by 'lower cost' alternatives - not necessarily low quality though.

So, likely more will be hired outside US/Europe, IMHO.

 

[Astner]

I'm on my way off Godaddy. I still use the account on occasions due its flexibility with different services, like Escrow, and there's the 2 month period between transfers. So I won't delete the account, but the quality of service has degraded over the years. It's not as bad as Network Solutions, but if I'm paying $20 for renewals than I'm expecting the best service and security options.

 

[tonyk2000]

https://careers.godaddy.com/search-jobs

only 25 open positions at this time. Wasn't it many more before?

 

[M999]

Did anyone here attend the town hall? Does anyone have any more specifics regarding these layoffs?

 

[Business Brands]

From what I understand, gd will not survive lonterm. Its another network solutions.

 

[James Iles]

The message says "Most impacted roles are in the U.S., affecting multiple levels in the company and every division". I am wondering how this would affect domainers business in aspects of: 1) premier service reps who are US-based. 2) systems support [afternic bugs for example], development of afternic [many things should be changed]. Also, will @James Iles still be GoDaddy liaison @ NP? With unclear duties, it is not obvious. Returning to "trusted blogging" may not be easy in fact, one of his niches (reviewing NP posts on NP) is already occupied.

I can confirm I haven't been affected by the unfortunate layoffs. Thanks for your concern

Did anyone here attend the town hall? Does anyone have any more specifics regarding these layoffs?

The townhall was for employees only.

 

[Dot.us]

I can confirm I haven't been affected by the unfortunate layoffs. Thanks for your concern


The townhall was for employees only.

Was not more proper to be .US instead .vc ? As American company + buy the rights of .US

 

[JB Lions]

And this is not just my opinion. It is clear to everyone - look at the 5 year stock chart.

What are you talking about? Stock is up 45% last 5 years.

Lot of crazy posting in this thread. GoDaddy won't survive, it's another Netsol etc.

It's a bear market, layoffs are pretty common right now. Just today more news of Yahoo layoffs, Microsoft layoffs, Newscorp layoffs.

Today's News:

Rupert Murdoch’s News Corp to Cut 1,250 Jobs, Laying Off 5% of Workforce​

Yahoo to lay off 20% of staff by year-end, beginning this week​

Microsoft announces another round of layoffs impacting Washington workers​

 

[Tepnu]

Perhaps their phone antisupport will be replaced with AI.

May be that would be even good than their support staff

 

[M999]

What are you talking about? Stock is up 45% last 5 years.

Lot of crazy posting in this thread. GoDaddy won't survive, it's another Netsol etc.

It's a bear market, layoffs are pretty common right now. Just today more news of Yahoo layoffs, Microsoft layoffs, Newscorp layoffs.

Today's News:

Rupert Murdoch’s News Corp to Cut 1,250 Jobs, Laying Off 5% of Workforce​

Yahoo to lay off 20% of staff by year-end, beginning this week​

Microsoft announces another round of layoffs impacting Washington workers​

@JB Lions

Only you can save yourself from your inherent ignorance.

GDDY - Aman CEO announcement date - 08/01/2019 - $74.23

GDDY Today (02/10/2023) - $80.32

 

[JB Lions]

@JB Lions

Only you can save yourself from your inherent ignorance.

GDDY - Aman CEO announcement date - 08/01/2019 - $74.23

GDDY Today (02/10/2023) - $80.32

You just clowned yourself, apparently you don't know what 5 years is.

https://www.google.com/search?client=firefox-b-1-d&q=godaddy+stock

Feb 16 2018 - 55.78
Today - 80.37

https://www.google.com/search?client=firefox-b-1-d&q=godaddy+stock

------
And if you want to go from Aman CEO announcement date, last time I looked...........

$80.32 > $74.23

So again. It's gone up from 5 years ago. It's gone up from when he took over as CEO.

And again, lots of companies are laying off people, I literally posted 3 examples of big companies from today's news section alone.

 

[M999]

@JB Lions

Only you can save yourself from your inherent ignorance.

GDDY - Aman CEO announcement date - 08/01/2019 - $74.23

GDDY Today (02/10/2023) - $80.32

@JB Lions

Keep drinking that GD Kool-Aid. And please ask chatgpt how to interpret my initial statement - as you are clearly incapable of doing so.

 

[bmugford]

You just clowned yourself, apparently you don't know what 5 years is.

https://www.google.com/search?client=firefox-b-1-d&q=godaddy+stock

Feb 16 2018 - 55.78
Today - 80.37

https://www.google.com/search?client=firefox-b-1-d&q=godaddy+stock

------
And if you want to go from Aman CEO announcement date, last time I looked...........

$80.32 > $74.23

So again. It's gone up from 5 years ago. It's gone up from when he took over as CEO.

And again, lots of companies are laying off people, I literally posted 3 examples of big companies from today's news section alone.

Yeah, GoDaddy is doing fine financially.

Looking at the last (5) years, their total revenue, gross profit, and operating income have all grown each year.

 

[JB Lions]

@JB Lions

Keep drinking that GD Kool-Aid. And please ask chatgpt how to interpret my initial statement - as you are clearly incapable of doing so.

Are you a struggle reader? Your own post takes apart your other post. Look what you posted:

GDDY - Aman CEO announcement date - 08/01/2019 - $74.23
GDDY Today (02/10/2023) - $80.32

That's up.
----------

Aman has no idea how to increase revenue."

GoDaddy annual revenue for 2021 was $3.8B, a 15.05% growth from 2020.

Revenue in 2022 (TTM): $4.07 B​

According to GoDaddy's latest financial reports the company's current revenue (TTM) is $4.07 B. In 2021 the company made a revenue of $3.81 B an increase over the years 2020 revenue that were of $3.31 B.

https://companiesmarketcap.com/godaddy/revenue/

 

[Acroplex]

Good to hear that @James Iles and others from the domain department are safe. Losing one's job to corporate downsizing is not good. Went through similar crap a long time ago and it wasn't fun.

Regarding GDDY valuation, what is important to note is how much long term debt the company carries. It's almost $4 billion. I believe their next loan restructuring isn't too far.

 

[marijuanadomain]

They paid too much in hiring James and Michael, easily replaceable with the foreign operations.
AI and remote work are all possible now.