Chuck tried to lie and dodge the questions but David Faber would not let him off the hook on future layoffs
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Hiring chambers was the first mistake.
Chambers and the BOD made the wrong choice almost ten years ago in moving Robbins into the CEO role. He has been a poor judge of talent, cannot deliver the innovative products to markets, has kept unproductive businesses for internal political reasons, less than stellar acquisition decisions (Splunk. WTF?) and has not moved the company into new areas of business, cratered it Service Provider business for Product and Services. The only consistency he has achieved is the twice a year layoffs with SVP Katsoudas ensuring the company does not get sued for age discrimination during layoff season. Robbins laid off thousands during the pandemic where they lost their healthcare after COBRA.
Robbins lost 'the Street' years ago. "The Network. Intuitive" -anyone remember this? Wall Street does.
Gotta love it when these ELT types speak about company hardship, and how difficult it was to let people go.... and then within days you see them bragging about their luxury vacations online, or out golfing with some other ELT's from another company.
I'm so glad I'm not ELT, then everyone here would hate my guts!!!
:-)
absolutely. company has not done well under CR for so many years.
I am surprised that he was able to keep his job even after CSCO stock did not even beat inflation for so many years. that too after spending more than 50-60 billions on dividends, buybacks and acquisitions over many years.
why should he be a CEO when he is unable to beat inflation or index over so long duration. company would have made 50-60 billions easily had they put it in index fund or buying non-controlling stake in promising companies (instead of buying them to eventually destroy )
Proof that Cisco desperately needs a technical CEO and not a used car salesman
Disgusting. Chuck keeps laying off employees to compensate for Splunk acquisition.
Same interview Chuckie sadly struggled to understand and answer the technical questions he was asked
Yes Chuck was squirming for sure