Cisco execs are paid handsomely to strategize and plan ahead but do neither. Rather than laying off employees (which costs Cisco in severance, in loss of talent/knowledge and industry reputation), they should have planned ahead and trained employees on forward looking processes and technologies.
It’s easy to lay people off. Any dumbo can do that. Exemplary leaders prevent the carnage through careful hiring practices and planning.
Posted by @WeRrJE7-7iav. Perfectly stated.
Cisco is a financial company now. Look up arbitrage. Engineers are heroes in tech companies creating value. Financial companies buy assets and strip them.
Republicans and Democrats bought off by corporations about 20 years ago changed the rules on executive compensation and gaming the books. Stock buybacks are one tool to make a company look like it’s doing better than it is. Execs are rewarded on quarterly numbers. Financial magic is rewarded now not creating real value.
Creating real value is hard and takes time, buying and selling takes minutes.
It’s hard to understand the world if you’re using an outdated view.
It's also a result of how execs are compensated and rewarded