Like a year ago, except our financials have degraded, our credit rating is just above junk status, operational and capital expenditures are more than our free cash flow, and our stock price has cratered (20K is arguably too conservative).
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Not to be a doomsayer or anything, but 20K still isn't nearly enough to free up sufficient cash flow to cover our operational expenses, capital expenses and debt obligations. The road ahead is very bumpy and everyone should assume some very hard knocks. Good luck!
It is just the next step on the journey to 80K head count. The numbers could easily go up really fast. The markets are in a precariously high position and extremely overbought. All it is going to take is one worldwide calamity for the house of cards to fall. It won't take long and it will happen.
@as source?
@af Don't kid yourself. Being able to function is not a consideration for them. They think AI can do the work, even though by all accounts their AI is doing a sh!t job of it. The ONLY consideration is getting that data center built. We're watching a multinational company deconstruct itself in front of our very eyes.
As of right now it’s $300m in restructuring (3000-4000 headcount). (10k for FY27 restructuring)
But they can always adjust this in September for FY27
DB sales/engineering (DB@) will get hit hard as partners, including the hyper scalers, are expected to drive sales and engineering expertise. OCI sales/Engineering is ok.
But there is no way they lay off that many this year. We are barely functional as it is now.
@a3 what difference does it make?
So when will this happen? Biz Week article said the intent was to complete the action before the start of Q2.