The company previously reported quarterly results and numbers topped estimates. Revenue increased 6% year-over-year.......and now we have cuts. Someone please explain this to me, because I don't understand it.
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If this were true revenue wouldn’t continue to increase over decades with many tens of thousands laid off.
No sh-t…. Perhaps because the market is now bigger then 15 years ago ?
As for having different engineering groups. Fair enough but atleast they could deliver in the past. But let’s all put our trust in silicon one. The universal asic for the number 1 it company. Or whatever we claim to be now.
My Christmas List:
I need a complete new set of golf clubs.
I need a new detailing job for my Hawaii Golf Cart fleet.
Enjoy your festive Holiday job search.
Chuck needs to cut so he use the cash savings to give himself more stock
Investment 102 : greed is good, people are a required resource.
If this were true revenue wouldn’t continue to increase over decades with many tens of thousands laid off.
The redundancies across IOS, IOS-XE, IOS-XR and NX-OS almost pale in comparison to the redundancy of cut and pasted code in each branch followed by the inconsistencies between each of far too many branches. The cost of having to find and fix each bug a hundred times instead of once is used to justify having far too many people.
Ex-Cisco here ✋ Keep cutting that fat! I like how the stock is performing. Kick out some of those lazy CX f*cks and acquisition sales overlays!! Less sales fat, more engineering talent. More ho ho ho layoffs and severance New Years.
There are four things are inevitable in "life" at Cisco: LR when times are good, death, taxes and LRs when times are bad.
Cisco philosophy: whether we do well or not, fire some people anyway. Not because we need to or because our results are poor (they actually are, but, publicly, they are not because we are cooking the books) but because "we have to rebalance" the business. Note: This is NOT an LR for poor results but for "rebalancing the business". This means that when the recession hits gets reflected, then there WILL be an LR for poor results (due to recession) as we had in August-Sept 2020 despite CR saying that "there will be no LRs" during the pandemic. August-Sept 2020 was pretty much laden but he did not care, laid off some people and forced some more into retirement anyway.
That way the investor's will like us, all the worthless directors, VPs, SVPs and ELT will get more in stock options and the decision makers will have a "oh, so Merry Christmas" while the rest of the company continues to live in fear of the next LR round.
Investment 102 : greed is good, people are a required resource.
Investment 101: “Past performance is not indicative of future results.”