I was thinking maybe the big chief figured that just perhaps they had too many vice presidents pondering shoe laces vs. aggressively recouping market share, etc.
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I always found layoffs so short sighted. The benefits will last like 1-2 quarters in cost savings and then what? Lay off more people when you don't meet earnings expectations AGAIN 3-5 quarters down the line?
Uh oh. Sounds like somebody Just 'Did' It.