If Cis co would be yours and you wouldneed to stabilize the company would you count heads or money saved?
I think their problem is that they ask the managers to cut a certain amount and they cant because some of them are trying to put on the list their reportees instead of puting themselves on the list Some of them who have been around for long enough have salaries that are out of scale so they must go. Besides that firing the ICs also cripples the functionality ofthese teams. So naturally this should force the upper management to step in and they need more time to find a solution.
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If the few articles I read were correct a $1B charge was allocated by the company to pay for layoffs, where $700M to $800M of that was to be used in the first quarter. That implies there will be $200M to $300M already waiting to pay for the next round of layoffs without having to explain a new charge to investors in later quarters.
We should probably start a pool for when the first posts here complaining about being surprised when Cisco starts spending that remaining cash for that next round appear.
The PTO payout has no impact on the income statement. The expense is accrued as you earn it.
I'd like to know of the PTO payout is included in the Q1 savings. That's a material event that has to be reported.