Pros

Was a good company --but it now has gone into the death spiral. Formerly had great resources and people, with progressive policies for cooperation between divisions, organizations, and cross-regional development. Part of the problem was a lack of focus to support M&A activity when appropriate, and too much attention to fixing instead of shedding non-performers.

Cons

Was not able to shed under-performing businesses. Focused on top-line growth at the expense of long-term survivability. Compensation was not tailored to individual performance, but was too broad -- little incentives for success or initiative. Culture rewarded lack of controversy.

Advice to Senior Management

Cuts need to be sharp and quick.