How many failed attempts does it take for the leadership to realize that we need to focus on innovation and improving our current products along with customer service instead of gutting the workforce to achieve long-term success? The easiest solution is rarely the best one.
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...we need to focus on innovation and improving our current products...
Cisco has never been able to get talent in sufficient critical mass to do these things which is why they've acquired for 30 years and spent most of their development budget failing to fix bugs. Too many still buy the HR Koolaid of "we're the top 10%."
CEO Chuck and CFO Scott moved to Atlanta to work remote and are wasting $500M+ a year on private jets, ridiculous annual boondoggles to Hawaii, Vegas, Paris, etc
The simple (and unfortunate) answer may be they simply don't have the skillset and vision to go the innovation route. It's definitely harder than just being a bean counter and looking at your business as nothing more than a spreadsheet.
@coe - you win the lottery with the right idea from the ELT. First rule of ELT - figure out ways to enrich the ELT. Second rule - follow first rule in all circumstances no matter the brutality or incompetence of the ELT.
"Layoffs" have become the tech industry's "Easy button". Tech companies no longer do the hard work of investing in their employees and shifting existing resources due to market demands. It's really lame.
Chuck's financial strategy is to layoff employees and then recirculate the compensation savings back into RSU's for himself and the ELT