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by trynewideas
1204 days ago
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As noted in my link, "primarily due to business mix change in Networks and previously announced charges for contract exits and portfolio adjustments in Cloud Software and Services". If they took that hit and missed significantly on revenue, a layoff wouldn't be as unexpected. To take that hit and then beat on revenue, both quarterly and YoY, and then kick off an 8% layoff, is just corporations being corporations for the sake of it. |
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Revenues don’t mean anything though.
I could generate huge revenues by selling $100 gift cards for 80 bucks. But I’ll have no profit to show for it.
If their profitability was cut in 1/2 in just 1-years time, it's actually irresponsible for management to not take actions to get costs/margins under control.