They've known about it for a while. And they still set up layoffs. We're living at an age where record earnings don't provide any job security for employees. How messed up is that?
9 replies (most recent on top)
The US market is built on the idea that every company can provide infinite growth. As we saw in 2008 when Alan Greenspan was saying the collapse that already occurred wasn't possible the people in charge don't have a working brain cell to see why this doesn't work. When is the last time you saw a talking head mention total US debt of which the US federal debt is a minor part? How many people can correctly say how much total US debt there is without looking it up?
Outsourcing of jobs in different fields and manufacturing from USA is the top main reason for layoffs.
Corporate greed and Wall Street is the main reason for stupid policies and decisions.
A country that manufactures most of its own goods is strongest. Don’t depend on countries that are stealing IP and also dumping goods at cheap price.
We can do more with less
They've known about it for a while. And they still set up layoffs.
The source is the last earnings report. Cisco set aside $1B in restructure costs (layoffs). They said that restructure is going to continue into FY27. So no, they aren't going to keep announcing the same restructure, they will just cut in the background until they finish the $1B LR. They did half of the cuts in May. Whether you want to call it silent or rolling layoffs is up to you. But just because it's not mentioned again this earnings call means nothing
Wondering if we need to remind every single one of you that the EU guys are getting paid from that second half now because there is a delay there required by the EU laws so the LR is being implemented there right now
@a3 The source is the last earnings report. Cisco set aside $1B in restructure costs (layoffs). They said that restructure is going to continue into FY27. So no, they aren't going to keep announcing the same restructure, they will just cut in the background until they finish the $1B LR. They did half of the cuts in May. Whether you want to call it silent or rolling layoffs is up to you. But just because it's not mentioned again this earnings call means nothing.
LRs are not confirmed, we made it out safe until next quarter
Just one big a-s ponzi scheme is all AI and all these companies are. Corporations are same as the government they are looting the treasury and stock market all they can before it all goes down the toilet which is inevitable. In the end AI main use will be 24 hr surveillance of all movement, faces and purchases for a wonderful system like China has. Thanks for playing.
Shareholders as always the highest priority. Managers must squeeze staff to generate more profits. More profits = happy shareholders.
can i ask how you know they still set up layoffs? Like from a trusted source?