Apparently there will be another several hundred announced within the Q
11 replies (most recent on top)
Q2 disaster looming means LR season is near
Apple is the wealthiest company in the world with sustained growth and has to utilize su----e nets at their factories.
How is that even relevant? The factories that make the iPhones, iPads and Macs are not owned or operated by Apple. Foxconn has a contract w/ Apple to mass produce products. Those workers are Foxconn employees or contractors working for Foxconn, not Apple. You could argue that Apple should pay Foxconn more, then you could also argue that Foxconn should demand more from Apple in order to pay their workers more to improve their income, but that's capitalism. Foxconn wants to maximize profits just like Apple does. And so does Cisco.
Never stop....
I'd argue even with sustained growth, the company would still quietly layoff full-time employees and replace them with contractors... or employees on H1-B visas.
Apple is the wealthiest company in the world with sustained growth and has to utilize su----e nets at their factories.
Layoffs will continue at Cisco until there is strong, sustained growth. Because there is no one left in the company that can create strong, sustained growth, management can only squeeze out profits for Wall Street by cutting costs.
The unfortunate reality is that continuous cost-cutting only exacerbates Cisco's inability to innovate and grow. Cisco is stuck in a doom loop that will inevitably lead to it being restructured. Chuck's Hail Mary purchase of Splunk is his parting hurrah after simply managing Cisco's decline over the last several years.
Cisco and layoffs. As certain as the sun rises and sets.
until morale improves
We will know how bad tomorrow during the earnings report. Please extract and post here.
Mate, wait until after earnings. Time to tighten up.
Don't worry, it's coming. Probably in November itself. Give it another week.