With sales in a free fall, get used to 5K+ layoffs every quarter because Chuck and his side kick Scott said they will manage expenses down as revenues continue to decline
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And the deeper this ELT cuts, the more difficult it's gonna be selling our stuff. Fewer sellers, fewer eng resources, support quality down the drain, customers abandoning Cisco. This never ends. Instead of thinking strategically, this ELT is simply repeating the old Chambers playbook like true amateurs.
As reported the approximately 5K layoffs will be spread from here to Q1FY2025. Just checking the stock the 5% loss of employees has translated directly into a 5.27% loss in after hours trading, so going to 20% per year will be brutal in every possible way.
For 5K announcement they don't want to scare off splunkers, remember those Splunkers are coming onboard soon.
But the good splunkers would already have jumped ship before coming onboarding with Cisco.
Everyone knew Jeff S was not a qualified sales leader when Chuck appointed him but amazing that they still keep him around with sales circling the drain