They’re too busy trying to boost those earnings per share to impress stockholders that they couldn't care less about throwing frontline staff under the bus. Sure, they think they can just replace us with desperate job seekers, but that’s a risky move. Hopefully, all these poor choices will catch up to them, and they’ll realize their actions have real consequences.
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These behemoths arguably hold Cisco to impossible financial standards, which aren't applied to other companies of similar size and financial performance.
Cisco closed over $58 in July 2019 over five years ago. It closed yesterday at $55.96. Cisco's revenue isn't up even 4% over that period. The S&P 500 is up over 41% and the NASDAQ is up over 48% over the past year alone. The fact that Cisco is up 25% from it's local low of $44.74 on August 5, 2024 seems more wild speculation than "impossible financial standards."
Sure, they think they can just replace us with desperate job seekers, but that’s a risky move.
Cisco has already spent many tens of billions failing to fix their code bases. What's the risk?
Sure, the only real consequence was a 30% compensation growth to a staggering $40M.
You clearly underestimate the amount of influence institutional investors (e.g. Blackrock, Vanguard, State Street, Schwab) hold over every publicly traded company. These behemoths arguably hold Cisco to impossible financial standards, which aren't applied to other companies of similar size and financial performance. It's a hostage situation, but that's the game Cisco agreed to after going public.
And do you not realize that 'desperate job seekers' would probably work harder than the army of quiet quitters that have become so prevalent?