Frequent layoffs - for the past 12 months, there have been layoffs every quarter. Upper management has always assured us after each round that there won't be more yet it's happened 4 quarters in a row now. We have lost a LOT of great people and the remaining people are very dissatisfied. People openly joke about keeping their stuff in a box ready to go at any time. Working at the HQ in Needham is like being at a funeral.
Poor strategy - with our move to IOT, we have ignored our CAD, PLM and SLM products and more importantly our customers. This is extremely short sighted since we have put all our eggs in one basket. If this Hail Mary doesn't come off, PTC will be dead. The worry is that we had a headstart in IOT having acquired Thingworx, Axeda & Atego. However, we have blown that first mover advantage and just looking at how Amazon and IBM are embracing IOT should worry anyone holding PTC stock. This company will be dead in 10 years.
Political environment - things have become very political here recently. There also appears to be favoritism in certain departments. It's common knowledge in a couple of departments that if ABC or XYZ don't like you, you will be on your way. A lot of undeserving candidates, some managers themselves, suck up to ABC and XYZ and get promoted while top performers get axed. It's sad that most people can tell you who ABC and XYZ are.
Summary: I would not recommend PTC to my worst enemy. It's a shame because just over a year ago, we were a fantastic place to work and I would've recommended it to anyone. Sad to see my beloved employer die in front of my eyes.
You should only join PTC if you are currently unemployed with no other offers or a politically savvy resource in IOT. Career opportunities are few and far between.
