I am in complete agreement with Hill & Knowlton AR guru Dom Pannell’s post on the ARcade blog that Yankee CEO Emily Green deserves a compliment for her blog post Time for the shoemaker’s children. While the layoffs are painful, transparency can help raise the confidence of the analyst ecosystem about Yankee’s prospects.
As SageCircle receives more information about which Yankee Group analysts have been caught in this reorganization we will add them to this list.
Updated: 8/28/08 9:05 am PT - Removed Nick Spencer from list per his request. According to Mr. Spencer: “left YG some weeks ago to take a position at RIM.”
Updated: 8/27/08 6:00 pm PT – According to source, Yankee will retain only 28 analysts. According to the ARinsights’ ARchitect analyst database, Yankee had 82 analysts before this reorganization.
Updated: 8/27/08 10:57 am PT – 12 names added
Updated: 8/27/08 10:31 am PT – seven names added. Also, the overall number of layoffs is being reported at 25% of headcount, not the originally thought 10%
Updated: 8/26/08 3:14 pm PT - one name added
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Here is the official statement that Yankee Group provided SageCircle on 8/26/08:
“Yankee Group is making changes to better align the company for success. Known as (more…)
SageCircle has learned that Yankee Group has initiated a round of analyst layoffs. At this time the exact number of staff and coverage is not known, but we have heard that 10% might be the size of the action. AR teams need to hope for the best for their favorite Yankee analysts, but plan for the worst.
Of course, layoffs impact real people with families and obligations. Often AR people are genuinely friendly with the analysts they work with and this sort of news can be a shock. Unfortunately for AR professionals, analyst firm layoffs also raise important issues that need to be addressed ASAP no matter how much sympathy they feel for the analysts caught in the layoffs.
The stark reality is that an analyst firm will not admit that they have pushed critical intellectual property out the door. Because none of the major analyst firms – including Yankee – have knowledge management (more…)