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Exactly why management shouldn't counter offer, the employee already left once and likely will again in the near future.

I once wrote for them, what a strange company. I didn't think they were still around, the assignments dried up.

Once panda hit they massively scaled back the content side of things, started going more editorial if you want to call it that.

What is panda?

And looks like they changed their company name

Why would you do something so mean?

I think you have to understand that particular company to understand why he would do that. I've known more than one person who worked for them.

Mean? Organizations don't have feelings. People do. It sounds like they did a beautiful thing: looking out for the rest of their team.