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A global technology leader in security and networking had experienced strong revenue growth, averaging 32% annually over a four-year period, but when the stock stalled, the company began searching for greater returns. It wanted to shift its workforce investments to attract senior talent, which would require some job relocations to lower-cost areas. Some operations had also grown out of alignment, and job reductions were needed. Moreover, these decisions needed to be finalized within four months, before the year-end earnings announcement. These changes were expected to be challenging for the company’s culture and required skillful planning, leadership and execution.
Our team expedited the workforce realignment effort, preparing economic impact summaries and other materials to support the board’s decision making. We managed the end-to-end initiative—analyzed and recommended potential new US locations, identified potential functions and roles to be relocated or eliminated, supported the client with change management best practices, and produced business process documentation.
The client ultimately reduced its workforce by 4% and relocated another 4% to lower-cost locations. Early analyst reaction was positive, with multiple stock upgrades within one month of the announcement. Executive leadership praised our ability to execute a complicated and sensitive initiative on a tight timeline: “The actions went as well as could possibly have been expected, and we could not have done this without SolomonEdwards.”