Thread regarding Navient layoffs

Disaster Management Earnings Call

Everyone was listening. No one was laughing. Read between the lines and cut the BS. You know it's not good when they are discussing liquidity.

"We were able to quickly and successfully move 90% of our team to a work-from-home status." (Does this mean 10 percent were laid off?)

"Earnings this quarter included a $95 million provision for loan losses or $0.36 a share." (Buried in all the numbers)

"We are carefully managing our expenses, capital expenditures and balance sheet. We believe we have ample liquidity, and we are seeing steady performance in cash flow from our student loan portfolio and processing businesses." (Is it so bad you had to mention liquidity?)

"While we are uniquely positioned with robust liquidity and a well-seasoned and partially guaranteed loan portfolio, the difficulty of providing guidance at this time as a result of the pandemic has led us to temporarily suspend our full year guidance." (Meltdown?)

https://finance.yahoo.com/news/edited-transcript-navi-earnings-conference-232729100.html

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"So we are looking pretty aggressively at all our expenses."

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