Revance Therapeutics Inc (RVNC)

[10nisman]

Thanks for the post.

More difficult are comments here about my colleagues losing their jobs as “cutting the fat” or “losers in marketing” or worse “good riddance”, as if applauding the indescribable loss of livelihoods and many millions in employee stock grants and purchases that have disappeared overnight.

All RIF's and headcount reductions are difficult. Nobody wants to make them, and good people get caught-up in them (along with unneeded / low performing employees). Unfortunately today, most employees have never experienced a RIF and the emotions that come with it (anxiety, etc.). I've seen countless RIF's in my restructuring days, and all of them were needed to put the business in a position to survive and in a lot of cases thrive. With the onset of AI, all employees should be evaluating their actual value and how they are likely going to be impacted over the next 24+ months.

We are not “savvy investors”, and a lot of us have never sold a single share of Revance stock. We are humans first, and employees with kids, babies on the way, student loan debt, mortgages, retirement plans. Our compensation packages were initially structured where Revance stock was big financial motivator to stay. We also believe(d) in the product but not in Dustin and Mark’s strategy, yes Mark was in on it. It was a strategy I quietly questioned.

The product is the same, and the share price is fixable. I don't know one great company that hasn't seen their share price cut in half at least once, nor hasn't implemented sizeable RIF's... Life is about what you do when you've been knocked on your butt. The good / great people use it as motivation to thrive --- bouncing back quickly, while others find it as a perfect excuse to complain and blame their life outcomes on others. Ball is in your court...

Working at Revance is as Emmanow said, “sad”. It’s also like walking barefoot on a tight rope laden with shards of glass. We don’t sleep at night with worry, by day it’s hard to focus on work.

Like I said earlier, for those that have never been through a RIF or who aren't comfortable they are adding real value, often experience anxiety during times like this. The best employees step-up --- rolling up their sleeves and willing to take on even more responsibility. And although it's always easier said then done, you cannot control the things you cannot control. Worrying you may be next doesn't help anyone. Focus on what you can control and kick-ass everyday.