GoDaddy closing community forum (4 Viewing)

GoDaddy is firing everyone and trying to automate the vast majority of their systems to cut costs and raise profits.

That's what happens when you're a private company and a good portion of your shares suddenly get bought by an evil hedge fund who threatens to fire all the executives if massive profit goals are not met.

Activist investor to GoDaddy: Cut costs, improve sales, or sell

GoDaddy needs to cut more jobs, reduce the tech budget, and address why it is falling short of financial targets outlined at its shareholder day in 2022, or the board should consider exploring a sale of the business.

This is the view from activist investor Starboard Blue LLP, GoDaddy's third largest shareholder and one which is agitating for change and a seat on the corporation's board, something it has so far failed to secure.

https://www.starboardvalue.com/wp-content/uploads/Starboard_Value_LP_Letter_to_GDDY_09.12.2023.pdf
 
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