Cisco, Nike quit Russia, as pace of Western firms leaving speeds up...
https://www.reuters.com/business/media-telecom/exclusive-cisco-wind-down-business-russia-belarus-2022-06-23/
12 replies (most recent on top)
The $200M quoted was lost sales in Q3. See the earnings call.
$800M a year is just a matter of not making a few catastrophic decisions each year. I’ve seen more than $200M lost because of decisions made by individual worker bees. It gets worse as you climb the ladder.
The $200M quoted was lost sales in Q3. See the earnings call.
The US is striving to be the next Afghanistan yet it’s weakest state Mississippi still has four times the GDP per capita of Russia. Russia has some incredibly bright people and if Cisco can get some to emigrate and work for them it should well offset the loss of business. The last article I saw quoted a Cisco executive saying it would cost them $200M and Cisco has wasted far more than that on each of many bad decisions.
Sanctions will never work with a large developed county Russia. China is right and soon will have a stronger alliance than currently exists with declining nations- e.g., the US, Europe.
There’s your mistake in bold. Bits of western Russia are developed but most of it is still in the dark ages.
Russia is a 3rd work shithole country that probably wouldn’t have even survived another decade before invading Ukraine.
Putin has accelerated Russias demise greatly with this needless war.
China will likely annex Russia within a year or 2.
"Continuing business in Russia was a 100x bigger risk to Cisco’s business than not wearing Pride badges at CL."
Our hardware has backdoor software installed to monitor all activity. Why would Russia continue to allow our hardware to be installed? This is purely a free public relations stunt to distract simpletons
`Not only was this a stupid, 200m per quarter loss business decision, and the India thing already mentioned, but retribution will be taken at some point.
They think this is going to rile up the Russian population and spur revolt/regime change, but it only gives their Russian government something to point at and say SEE WE TOLD YOU, and they will unite even harder behind the cause to crush and annilhate the west.
If we could have stopped this we would have. It could have been just Crimea and no nato, now they will lose at least half of Ukraine, all the people dead jobs lost and US hegemony significantly weakened and dollar and EU sent further down the sh----r. Get woke go broke. I still like Cisco as a company for the most part thought. I don’t think this will ki-l the company by any means it just is sad to see it so wrapped up in politics when we could be executing and dominating the business stuff…`
So what do you suggest ? Sit tight and watch any modern values going to trash ? Create a precedent and allow Russia to go after all the other former Eastern Block states ??
The Russian population was smart enough to support comunism and someone like Putin for so long, then let them enjoy it. They can blame the western world as much as they like. If they are not happy with their leader decisions they can change him or make their peace with it and suck it
And no Russia is not going to be able to keep with the Western World in any respect, it was not able before, and it is not going to be going forward
Russia forced the western world to cut to energy cord and rethink their supply lines in this respect. It is happening, we will pay a little more for other things, maybe a recession is coming but this would be nothing compared with Eastern Europe swallowed by the Red Plague again.
I say take jobs from India/Russia/China/Brasil and bring them to the Eastern Europe and you will be much better. Let India/Russia/China/Brazil and other countries that believe that because they have land and population they should have more to say in this world. , let them trade with each other to see how well they are doing
https://www.forbesindia.com/article/boardroom/bric-countries-hit-a-wall/33030/1
https://www.forbesindia.com/media/images/2012/May/img_65328_bric_one.jpg
Sanctions will never work with a large developed county Russia. China is right and soon will have a stronger alliance than currently exists with declining nations- e.g., the US, Europe.
Cisco are sheep. However, we do love to virtue signal.
I’m definitely not in the woke side of things, but this is a no-brainer for Cisco, and nothing to do with woke. Continuing business in Russia was a 100x bigger risk to Cisco’s business than not wearing Pride badges at CL. Russia’s economy is going backwards towards 1917, and we could not be seen to be helping Russia in any way. Russia is about to be declared a State Sponsor of Terrorism. We cannot do any business with Russia any more than we could sell security products to ISIS.
Not only was this a stupid, 200m per quarter loss business decision, and the India thing already mentioned, but retribution will be taken at some point.
They think this is going to rile up the Russian population and spur revolt/regime change, but it only gives their Russian government something to point at and say SEE WE TOLD YOU, and they will unite even harder behind the cause to crush and annilhate the west.
If we could have stopped this we would have. It could have been just Crimea and no nato, now they will lose at least half of Ukraine, all the people dead jobs lost and US hegemony significantly weakened and dollar and EU sent further down the sh----r. Get woke go broke. I still like Cisco as a company for the most part thought. I don’t think this will ki-l the company by any means it just is sad to see it so wrapped up in politics when we could be executing and dominating the business stuff…
India has made a new strong alliance with Russia, but Cisco trusts India with company source code.
yeah, now this is gonna save the world.