GREY:WSLFF - Post by User
Comment by
forfunon Jan 13, 2020 10:00am
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Post# 30545922
RE:RE:Westleaf Sees Three Executives Depart To Cut Costs
RE:RE:Westleaf Sees Three Executives Depart To Cut CostsSomewhat comical. Myself (and a few others) called out the ridiculous overheard Westleaf had tied up in "Managers" and "Directors" and how it wasn't sustainable. This was a constant topic last April, May, June, July. Funny that it took the company this long to come to the realization that their overheard costs were sustainable.
My fear (for shareholders) though is that these 3 folks took 1 last payout of their fair share of cash/options, especially from this last deal since there'd be some money in the accounts.
"Also departing the company is Chief Operating Officer Ben Kaanta and Chief Development Officer Shon Williams. Both executives are being forced out as a means of conserving cash, while seven other employees of the firm were also let go. The move is expecting to free up $1.3 million on an annualized basis for the firm." A fun little nuggest confirming what a few of us were strongly calling out. 10 people being let go, with the move expecting to free up $1.3M. $1.3M!!!.... $130,000/each for a bunch of buddies to take everyone's cash, and now ride off into the sunset? You shareholders got PLAYED...