https://www.marketwatch.com/story/ciscos-stock-falls-after-bank-of-america-cuts-rating-price-target-2020-01-08
4 replies (most recent on top)
LRs based on more factors than I can state but poor booking forecasts is primary driver. That’s driving reductions to CoGS... standard stuff... first hit is your discretionary related spend, then comes Contractor furloughs and reductions and lastly permanent employees. Unfortunately that is the Culture in CX and has been before I left. Factors driving reductions are different in Sales and Engineering. Bottom line sales numbers or lack thereof drive actions ive seen called out in earnings reports as of late. Until they fully transition to a more recurring software revenue model I think challenges will continue. They might hit the numbers next week but let’s see how future guidance is stated. You never know, maybe the recent chip acquisition will drive up business and stock price. Know this is a Cisco’s culture with continuous layoffs and either adapt your expectations or get your CV updated and be proactive and don’t live in fear. They were and I’m sure still are a good company. You just need to set your expectations accordingly,
All the best
It started before Chambers left.
You have to ask yourself if working there...is this how you want to lead your life? Can't you find equivalent pay and position at another company that doesn't create such uncertainty?
And...don't EVER think you are safe.
It's started. Heard that a substantial LR is coming. Directors just got word. Engineering affected, probably other areas. Surprised? No. This company has been doing two LR's a year pretty much since Chambers left.
Yup we have to keep the pockets of the worthless leadership team full. Can’t have them missing there targets just because they aren’t capable of properly leading a technology company. Cut cut cut. Go work at a bank or VC firm.