Thread regarding Conduent layoffs

Conduent Stock down 38% from yesterday after Q1 Earnings Call

Down to 7.68 from 12.50 when the market closed yesterday.

Some highlights from an article about the earning call (I missed the actual call):

"Yesterday, the company posted disappointing first quarter earnings, with $1.16 billion for the quarter, down 3.3 percent year over year. The company also posted a $308 million loss in net income for an earnings per share loss of $1.49. Conduent said it has adjusted its revenue outlook for the year from growth of 1.5 percent to a 3 to 4 percent loss.

Conduent said new business signings were down 39 percent in the first quarter, the company also lost a $140 million contract with the state of California, and its largest customer reduced its sales volume which in turn hurt revenue."

https://www.crn.com/news/channel-programs/conduent-ceo-to-resign-amid-falling-revenue-and-battle-with-icahn

But hey, we're Pivoting to Growth! So everything's fine!

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Post ID: @OP+YYbbD2c

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No wonder we miss our forecasts and deliver disasterous results, it’s all complete air. Never seen such management style in my life. Leaders promise numbers to the top then go back to squeeze and beat the sales teams to magically come up with the impossible with out giving them the help and resources needed. There is no plan, strategy, pipeline management, common business practices. I suspect the same is happening on the operations side. It’s time to get real. Laying off people is just a bandaid on a severed arm. This place needs a wake up and a shake up from the top down.

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