#analysis

All the metrics are about calls and volume of waste, no real outcomes.

The reserves replacement discussion on the earnings investor presentation makes no sense at all. It shows 10 year increases but says RRR was 95%.

Anyhow, last year we really only added reserves from Hess. Otherwise, we are a shrinking business.

https://seekingalpha.com/article/4861789-xerox-running-out-of-ink-strong-sell

I am betting on $35.00/share when RTO kicks in for all.
See you on the commute

I mean, our results figures were really not that bad. What gives?

IBM isn't a healthy company

https://techrights.org/n/2026/01/29/IBM_s_Financial_Performance_in_IBM_s_Own_Words_Money_Down_Debt_.shtml

Arista annual sales are close to 9~10B with approx 4500 employees, while Cisco annual sales are 56B with 86000 employees. To compare it - Arista is doing 20% of Cisco sales with 5% of employees. Conclusion is simple: Cisco has too many redundant employees.

If it hits $360, that means it's time to exit my position.

https://www.barrons.com/articles/ibm-stock-price-top-pick-2026-35af20b3

By: Mackenzie Tatananni
Updated Jan 08, 2026, 2:59 pm EST / Original Jan 08, 2026, 2:15 pm EST

Skeptics may argue that International Business Machines has lost the clout it had decades ago, but one analyst is doubling down on his bullish bet on the stock heading into the new year.

Much of the negative noise surrounding IBM appears to be unfounded, according to Oppenheimer analyst Param Singh, who has chosen IBM as one of his top picks for 2026. He rates the stock at Outperform with a $360 price target.

IBM stock was 2.1% higher at $303.04 on Thursday as the Nasdaq Composite traded in the red. Singh’s price target suggests the stock can rise another 19%.

Attitudes on the stock are indubitably mixed. Of 22 analysts polled by FactSet, 11 rate IBM at Buy, while seven rate it at Hold, and four at Sell. So why the vote of confidence?

“Bears have the estimates wrong, making expectations low into the print,” Singh said, referring to IBM’s fourth-quarter earnings report due later this month. He believes IBM can deliver durable growth by consistently raising prices, and described its portfolio of software as “sticky,” meaning clients repeatedly return to the products even though alternatives exist.

IBM has been winning bigger contracts because it has more products and services to offer, largely driven by acquisitions and the rollout of new mainframe computers. Last year, it paid $6.4 billion for HashiCorp, a provider of infrastructure and security tools, and has had early success integrating those offerings into its portfolio.

Taken together, these factors could boost overall revenue by 6% and software revenue by 9% in 2026, Singh said. His call for revenue growth is double the consensus forecast on Wall Street and nearly double the call for growth in software revenue.

“We believe IBM will positively surprise the bears on its earnings through the year, driving upside to the stock,” Singh said.

That comes after a decent run in 2025, a year dominated by the conversation around artificial intelligence. Shares rose 35% last year, behind a 39% gain for AI heavyweight Nvidia but ahead of a 20% gain for the Nasdaq.

There already are signs 2026 will be a good year. Despite recent chatter, Oppenheimer’s checks show little to no customer attrition, even as IBM passes along a 6% price hike to customers renewing enterprise license agreements.

And then there is IBM’s consulting division, which has become a significant contributor to revenue. Singh and the Oppenheimer team see little evidence of a pullback on spending, although software is expected to continue to grow more rapidly

Software revenue is expected to achieve sustained, double-digit percentage growth as opposed to “low-single-digits” for IBM’s consulting arm, Oppenheimer said.

Barron’s wrote favorably on IBM for a different reason in December: the company’s burgeoning quantum-computing division. Big Blue was an early entrant in the space, and aims to release a fault-tolerant quantum supercomputer by the end of the decade. That would be an industry first.

From 1.5 million to 1.3 million. Not terrible, until you read further that 2/3 of that 1.3 million were automatically enrolled from 2025. Which means they likely haven’t paid the premium yet. Thus, that 1.3 number is expected to drop once the bill comes due and is significantly higher than 2025. Waiting to see what the numbers in Florida look like.

Verizon Strategic Growth Analysis: Competing for the Top Line
Note

This document analyzes Verizon's position relative to T-Mobile and AT&T as of late 2024/early 2025, focusing on strategies to improve top-line revenue.

Executive Summary
Verizon faces a bifurcated challenge: defending its premium user base against T-Mobile's aggressive value-plus-performance attacks while igniting new growth engines to match AT&T's fiber momentum. To improve the top line, Verizon must pivot from being a "utility" provider to a "platform" provider, leveraging its massive 5G Ultra Wideband investment for high-ARPU services in both consumer (FWA, Bundles) and enterprise (Private 5G, MEC) segments.

1. Competitor Landscape: The "Big Three" Dynamics
   Feature Verizon (The Premium Defender) T-Mobile (The Growth Engine) AT&T (The Balanced Builder)
   Primary Strength Network reliability brand equity, massive B2B base. "Un-carrier" value proposition, 5G mid-band spectrum lead. Fiber footprint + Mobility cross-selling.
   Top-Line Strategy Yield over Volume. Focus on ARPA (Account Revenue Per Account) via "myPlan" upsells and perks. Strong FWA push. Volume + Value. Aggressive net adds (Postpaid), attacking rural markets, and entering fiber via JVs. Convergence. Bundling Fiber + Wireless to reduce churn and boost LTV (Lifetime Value).
   Weakness Consumer postpaid net adds have historically lagged. Perception of "expensive". Lack of owned fiber assets (relying on partnerships/acquisitions like Lumos/Metronet). Debt load remains a factor; legacy wireline decline.
2. Strategic Pillars for Top-Line Growth
   A. Consumer Wireless: The "myPlan" Average Revenue Per Account (ARPA) Lever
   Verizon cannot win a price war with T-Mobile. It must win on value density.

Strategy: Aggressively migrate base to "myPlan" tiers. By decoupling perks (Disney+, Apple One, Walmart+) from the base rate, Verizon turns low-margin "freebies" into a recurring revenue marketplace.
Action:
Increase "perk" penetration to drive ARPA up by $2-3/mo per user.
Target the "Switcher Pool" with premium device on us offers only on the highest tier plans (Unlimited Ultimate).
B. Broadband: FWA as the "Gatekeeper"
Fixed Wireless Access (FWA) is Verizon's fastest-growing segment. It is the key to winning households where Fios doesn't exist.

Strategy: Position 5G Home Internet not just as a "cheap" alternative, but as a "smart home" hub.
Action:
Bundle Deeply: Offer significant discounts for FWA + Mobile subscribers to lock in the household (churn reduction = sustained top line).
SMB Expansion: Aggressively market FWA Business Internet to small businesses currently stuck on expensive cable legacies.
C. Enterprise (B2B): Private 5G & MEC Focus
Verizon historically owns the Fortune 500 relationship. This is the biggest differentiator against T-Mobile.

Strategy: Move beyond connectivity to managed industry solutions.
Action:
Private Networks: Scale "Network in a Box" solutions for logistics, manufacturing, and stadiums.
MEC (Mobile Edge Compute): Monetize low latency. Collaborate with AWS/Azure to sell "cloud at the edge" for real-time AI inference (e.g., computer vision in factories).
Public Safety: Compete with AT&T's FirstNet by leveraging Frontline's superior mmWave capacity in dense urban centers.
D. Innovation: The API Economy
The industry is moving toward "Programmable Networks" (GSMA Open Gateway).

Strategy: Monetize the network ITself via APIs.
Action:
Sell "Quality on Demand" (QoD) APIs to broadcasters, drone operators, and gaming companies who will pay a premium for guaranteed throughput/latency slices.
Implement "Silent Authentication" APIs to banks for fraud prevention (replacing SMS 2FA), creating a high-margin B2B2C revenue stream.

1. Summary of Recommendations
   Stop chasing empty calorie net adds; focus on High Value adds who take phones + watches + home internet.
   Accelerate the "Platform" narrative: You aren't just selling data; you are selling the ability to run real-time AI at the edge.
   Defend the Enterprise Moat: Use Private 5G to make Verizon indispensable to industrial operations, locking out T-Mobile.

This sums it up very nicely:

'The company’s overemphasis on Payments left core banking clients underserved, while execution fatigue weighed on growth and valuation'

From :
https://finance.yahoo.com/news/fiserv-inc-fisv-bull-case-212326330.html

“Back at the All-In Summit, David Friedberg asked Musk: "Could you buy some carriers to acquire more spectrum? Maybe buy Verizon?"

Musk replied: "Not out of the question. I suppose that may happen."

https://www.zerohedge.com/technology/spacex-trademark-filing-signals-starlink-mobile-may-soon-take-aim-att-verizon

Manufacturing and mining-related industries are becoming riskier as companies reduce costs and adjust production.

Procrastinators of layoff doom, here is a record of totals for Ford employees.

I will post the link again when the 2025 numbers are updated.

Let see how correct the predictors of large layoffs for 2025 actually were.

https://stockanalysis.com/stocks/f/employees/

Everybody should be preparing for potentially being let go. If you don't see the writing on the wall, I feel sorry for you.

WMT’s comparable sales up 4.5%, TJX comparable sales up 5%, TGT comparable sales down 2.7%.

How is Fiddelke going to spin this?

Published 11/17/2025, 06:56 PM

https://www.investing.com/news/swot-analysis/five9s-swot-analysis-cloud-contact-center-stock-navigates-ai-transition-93CH-4363981

Medtronic (MDT) stock jumped early Tuesday after the medical products maker reported adjusted earnings of $1.36 per share on $8.96 billion in third-quarter sales.

On average, analysts called for $1.31 earnings per share and $8.87 billion in sales.

Is anyone else finding this damage control session to be hilarious? Yeah, let's blame the stock price on everyone else but TR

PS
Stock analysts now recommend buying TR. Duh, after 30% discount

Welcome to the world of the "forever layoff." Companies are increasingly making cuts year-round in small batches rather than big sweeping firings.

The smaller batches of layoffs let businesses make changes and shift strategies without attracting scrutiny — and they normalize layoffs as a typical part of work. But they still put people out of jobs and make workers super anxious.

https://www.axios.com/2025/11/16/rolling-layoffs-small-firings

The departments and roles most at risk in Verizon’s current layoff wave are those in non-hub locations, remote-only roles, legacy functions, and middle management, with a particular emphasis on areas not directly tied to core business transformation or strategic platforms.[reuters +3]
High-Risk Departments and Roles
• Remote/Non-Hub Employees: Workers based outside core and business hub locations or those exclusively remote are the primary targets.[remio +2]
• Middle Management: Over 20% of management roles, especially those with duplicative functions or not clearly aligned with growth priorities, are flagged for reduction.[finalroundai +1]
• Legacy and Support Functions: Departments relying on old technologies, process-heavy support teams, and administrative roles—especially those made redundant by automation or digital platforms—face higher risk.[remio]
• IT Support and Operations: Routine IT, helpdesk, and non-strategic operations, particularly those not driving cost savings or transformation, are being streamlined.[remio]
• Finance, HR, and Shared Services: These centralized functions face consolidation, with job loss risk greatest for those outside highly specialized, strategic, or compliance-driven roles.[fortune +1]
• Sales in Declining Markets: Sales teams in underperforming or shrinking segments are seeing targeted reductions, especially if their territory overlaps with others or shows declining ROI.[deccanchronicle]
Safer (But Not Immune) Roles
• Employees in critical, revenue-driving, or transformation-aligned teams—especially in core hubs—are less likely to be cut, but all business areas are under some level of scrutiny this cycle.[reuters +1]
In summary, remote workers, non-hub office staff, duplicative middle managers, and those in legacy support areas face the highest layoff risk at Verizon during this restructuring.

Fiserv stock is now under 60. With the terrible customer service and outdated technology offerings they offer that’s still too high. The fall of Fiserv should studied.

Occidental Petroleum (OXY) is preparing for its Q3 earnings report, expected to show a 52% decline in earnings year-over-year. Recent developments, including a 10% drop in stock value and mixed analyst opinions, are reshaping the company's investment outlook.

The happy-talk non-GAAP will be left out of the formal earnings filing, and we'll see how bad it really is. It's due 40 days after quarter end, which is Sunday. They will wait until after market close to do so.

One of the questions asked was: is there risk of bankruptcy, assuming this spouted from someone who heard one of the many 3rd party analyst saying there is a high risk of such an event.

The answer from SB was: Absolutely not, as long as we execute.

A great follow up would have been; Is there risk of not executing going forward? Looking back we’ve had 12 quarters of not executing, what changed?

SteveB,

You just reported Q3’25 results.

Let’s strip out the “reinvention” slogans and talk GAAP facts.

Because GAAP is the real score: it shows what a company truly earns and spends, with no special adjustments or “creative” add-backs.

Here are the questions employees and investors deserve answers to:

⸻

Q3 GAAP gross margin was 22.7%, not the ~29% “adjusted” number repeated on calls.

When will Xerox return to even 25% GAAP gross margin?

If not in 2026, what is the plan?

⸻

GAAP operating results remain NEGATIVE before interest expense in pro-forma terms.

How do you claim “positive operating momentum” when GAAP still shows operating LOSSES?

⸻

Xerox already took a ~$1B goodwill impairment in Q3’24.

Analysts expect another ~$1B in Q4’25.

After ~$2B in goodwill impairment in two years, how can you claim the strategy has created value?

⸻

Quarterly interest expense: ~$70M

Annual interest burden: ~$280M

How does Xerox service this debt load when GAAP operating income is NEGATIVE?

⸻

2025 Free Cash Flow (FCF) guidance cut to $150M, while cash generation relies heavily on receivables liquidation (~$400M).

Once receivables are gone, what funds operations?

When does Xerox produce true operating cash, not working-capital pull-forward?

⸻

Cash at Q3’25: ~$535M

Expected Q4 hit from impairment, restructuring, interest: > $1B

How many quarters of runway remain before EXTERNAL CAPITAL becomes MANDATORY?

⸻

Headline revenue +28% was entirely acquisition-driven.

Pro-forma organic revenue: -8%.

When does Xerox deliver organic growth — without buying it?

⸻

Legacy print equipment installs declined 24%; core print post-sale revenue -5%.

At what point do you acknowledge the print decline is STRUCTURAL, not “delayed demand”?

⸻

Synergies raised to >$300M, but integration costs are front-loaded and recurring.

What percent of announced synergies have actually hit GAAP results?

Not adjusted — GAAP. Give the number.

⸻

Moving SMB accounts to partners, closing direct touchpoints, offshoring operations.

Is this a transformation — or a cost-collapse to survive declining print economics?

⸻

Xerox booked a valuation allowance against deferred tax assets.

If the future is so bright, why does your own accounting tell us future taxable profits are uncertain?

⸻

1200+ roles eliminated.

Yet no GAAP earnings improvement.

How many more jobs must be cut before the financials turn? Or is cost-cutting the strategy?

⸻

Final Question:

When will Xerox return to GAAP profitability and positive GAAP operating cash flow without working-capital burn?

Provide a quarter and a number.

No slogans. No AI buzzwords. No “Reinvention” language.

Just GAAP math, dates, and accountability.

Employees, customers, and investors deserve nothing less.

https://investors.xerox.com/news-releases/news-release-details/xerox-releases-third-quarter-results-1

It's a question, not a statement.

We know they skipped the Goodwill testing and put it off until Q4. We also know they are required to do it once a year, and they absolutely have to in Q4.

If I'm reading this thing right, the Goodwill far exceeds the Total Equity. I know a lot of the one time losses will be gone on the Q4 call, but still, the EV could go to 0 or negative.

In a research note, MoffettNathanson analyst Craig Moffett said Schulman "described a shift towards being a customer-centric company, with the 'best value proposition' in the market. There is a clear focus on subscriber metrics. He called it a 'full reboot.' The obvious question is… how? Verizon is no longer perceived to have the best network. And it is perceived to have the highest prices. His promise to reverse subscriber losses without relying on promotions and price strikes us as more of a wish than a strategy."

Finance already runs super lean and has many lower level analyst spots open. Will it be spread even thinner in the lower positions? Will Sr Managers be mostly affected? I would assume that it isn’t the first to be cut..

With SAP and almost every other company flushing billions down the toilet chasing a phony dream, what happens after the crash?

https://www.commondreams.org/news/artificial-intelligence-bubble

MarketWatch reported on Friday that the MacroStrategy Partnership, an independent research firm, has published a new note claiming that the bubble generated by AI is now 17 times larger than the dot-com bubble in the late 1990s, and four times bigger than the global real-estate bubble that crashed the economy in 2008.

Perkins told Axios that he’s particularly wary because the big tech companies are claiming “they don’t care whether the investment has any return, because they’re in a race.”
“Surely that in itself is a red flag,” he added.

“I think that there will be a lot of capital that’s deployed that will turn out to not deliver returns, and when that happens, people won’t feel good,” he said.

To effectively control and reduce operational expenses (OPEX), companies can implement the following strategies:

Conduct Comprehensive Spend Assessments: Analyze spending patterns and cost centers to identify areas for cost reduction.

Utilize Data-Driven Insights: Implement advanced analytics tools to gain actionable insights and benchmarks for cost-saving strategies.

Negotiate Better Terms: Regularly evaluate vendor contracts and negotiate better terms with suppliers to secure volume discounts.

Strengthen Supplier Relationships: Build and maintain strong relationships with key suppliers to enhance collaboration and mutual cost-saving goals.

Develop Category-Specific Strategies: Create tailored strategies for high-impact categories, focusing on cost drivers and market conditions.

Optimize Across Categories: Identify synergies across different categories to leverage buying power and reduce costs on a holistic level.

Implement Procurement Technology: Adopt e-procurement platforms and spend analysis tools to streamline processes and enhance cost control.

By applying these strategies, companies can not only control their OPEX but also drive value and ensure long-term sustainability.

https://www.golimelight.com/blog/opex-planning

Facts, short interview excerpts, and a forward-looking analysis of how he may lead (some AI, some custom):

Dan Schulman

• Current role: Chief Executive Officer, Verizon Communications, effective Oct 6, 2025. He succeeds Hans Vestberg, who becomes a special adviser through Oct 4, 2026. Mark Bertolini becomes Board Chair.
• Age: 67. Recent context: Verizon is pushing to reignite growth and integrate a pending Frontier Communications acquisition targeted to close in early 2026.
• Education: B.A., Middlebury College 1980. M.B.A., NYU Stern.

Career highlights

• AT&T: 18 years, rising to president of the consumer long distance business and the youngest member of the company’s top executive team.
• priceline.com: President and COO, then CEO.
• Virgin Mobile USA: Founding CEO, took it public, later sold to Sprint Nextel. Post-deal he led Sprint’s prepaid group.
• American Express: Group President, Enterprise Growth, focused on new digital payments and partnerships.
• PayPal: CEO from 2014 through 2023, leading its spinout from eBay in 2015 and subsequent platform expansion.
• Selected moves: push for crypto features and a super app strategy, and the roughly 4 billion dollar acquisition of Honey to deepen consumer engagement.
• Verizon governance: Director since 2018, elected Lead Independent Director in Dec 2024, now CEO.

Key Accomplishments:

• Customer 1st
  At PayPal he implemented Customer Choice so users could pick how they pay. He noted that the day it was announced, the stock fell 9 percent, yet two years later PayPal reported 70 million incremental customers and lower service calls.

• Profit Driven
  He is associated with a measurable approach to employee financial health. PayPal introduced the Net Disposable Income metric and moved hourly and entry-level U.S. employees from roughly 4 to 6 percent NDI in 2019 toward mid-teens by 2021, with a goal of at least 20 percent.

• Crisis Response
  During the 2018-19 U.S. government shutdown, he initiated up to 500 dollar, interest-free advances to furloughed federal workers, committing up to 25 million dollars.

• Telecom Expertise
  Schulman has prior P&L leadership in wireless at Virgin Mobile and Sprint’s prepaid unit, which gives him domain context for Verizon’s mobility and broadband markets.

Some interview excerpts:

• On motion and risk: “There’s a philosophy in martial arts which is, ‘Never stand still’.”
• On choosing the customer over margin: “If we really are going to be a customer champion, what we need to do is give customers choice.”
• On short-term pain: “The day we announced it, our stock dropped 9 percent.”
• On purpose: “Profit and purpose are fully linked together.”
• On values: “Values can’t be propaganda. They have to be something that you not just say, but you do.”
• On day-one priorities at Verizon: “Verizon is at a critical juncture. We have a clear opportunity to redefine our trajectory.” Also, “reduce our cost to serve, and optimize our capital allocation.”

Let's predict how he will lead at Verizon (guessing, but still):

• Customer-first offers, simpler choices
  Expect emphasis on plan clarity, fewer gotchas, and tools that increase perceived value without price-only competition. This mirrors his “customer champion” approach that traded short-term margin for long-term engagement at PayPal.

• Cost to serve and digital self-service
  His own language points to lowering cost to serve. Look for pushes in app experience, proactive care, and churn-reduction through analytics so service costs fall while NPS rises.

• Growth (bundling + ecosystem expansion)
  At PayPal he broadened the platform with new features and Honey’s path-to-purchase data. At Verizon, comparable logic could show up as smarter bundles across mobility, home internet, and perks that deepen engagement rather than discounting alone.

• Capital Mgmt
  Telecom is capital intensive. Expect tighter capital allocation guardrails that tie spend to measurable growth in market share and cash generation, consistent with his opening memo themes and the company’s reiterated 2025 guidance.

• Workforce
  His record suggests a belief that better employee economics and inclusion improve outcomes. While Verizon’s footprint and labor mix differ from PayPal’s, watch for selective moves that support frontline productivity and retention.

• Telecom operator basics + fiber execution
  Schulman inherits a network built during Vestberg’s 5G push and a pending 20 billion dollar Frontier acquisition aimed at fiber expansion. Expect a pragmatic focus on fiber passings, broadband adds, and unit economics while integrating the deal if it closes as planned.

• Purpose/Pragmatism
  He is outspoken about acting on values. In a regulated, politically scrutinized sector, expect careful calibration so purpose initiatives remain tied to customer trust and operating results.

What to watch in the first 12 months

• Postpaid phone net adds, phone churn, and ARPU trends vs AT&T and T-Mobile. Context: Verizon seeks to regain momentum in a highly competitive market.
• Broadband and fixed wireless net adds, fiber build milestones tied to the Frontier integration timeline.
• Cost-to-serve metrics and digital adoption rates following any app or care redesigns.
• Signals on capital allocation and any portfolio or pricing simplifications in mobility and home.

You can use Google to find this:

• Verizon announcement and Schulman’s day-one remarks.
• Breaking coverage of his appointment and competitive context.
• Customer Choice case and measured outcomes at PayPal.
• Employee financial wellness program design and results.
• 2019 shutdown advances for federal workers.
• Honey acquisition rationale.
• Earlier telecom roles and Sprint-Virgin Mobile deal context.
• Background on education and early career.
• Latest coverage on Schulman and Verizon.

I guess most if not all of this article seemed to be available from the link I've pasted below.

But it didn't really convey any news other than "I'm not dead yet". Maybe someone with better reading comprehension / oiji board skills than myself can tell me the big news contained herein.

https://www.bizjournals.com/triangle/news/2025/10/01/cary-sas-ipo-artificial-intelligence-jim-goodnight.html?csrc=6398&link_source=ta_first_comment&taid=68dd33f5f5bfd20001db1ca5&utm_campaign=trueAnthemTrendingContent&utm_medium=social&utm_source=facebook&fbclid=IwY2xjawNKGhNleHRuA2FlbQIxMABicmlkETF2TjlLWTBPNkVMemtjSTVqAR4ptyAs0Oqrk0jB8Avtwg6Yn4gzNVt2NUmMQ7DHkhkNkRMMz-rESj4DEqAnXw_aem_x82wTJAKJiP9R3P3_STGfQ

I asked chat GPT why employees hate the CEO of Wells Fargo and this is what it told me.

Toxic Sales Culture / Incentive Pressure

Wells Fargo has long been criticized for setting extremely aggressive sales quotas and cross-selling goals. Employees felt pressured to meet unrealistic targets, sometimes leading to unethical behavior.

The infamous “fake accounts” scandal — where millions of unauthorized accounts were opened by staff to meet goals — still looms large in employees’ memories and influences trust in leadership.

Perception of Leadership Hypocrisy or Detached Promises

Employees often feel that top leadership makes reforms on paper or in public statements but that daily enforcement and genuine change are lagging. For instance, promises around improving culture, compliance, or ethics are sometimes seen as superficial.

Some policies intended to address issues (e.g. diversity goals or “diverse slates” for hiring) have themselves drawn criticism for being implemented in ways that seem performative or even misleading.

Comments & Missteps Around Diversity, Equity, and Inclusion (DEI)

One major flashpoint was when Scharf said the bank had trouble meeting diversity goals because of a “very limited pool of Black talent,” something many employees and external observers saw as tone-deaf or dismissive.

Related to this, there have been internal complaints about “fake” interviews (i.e. interviews with diverse candidates even though the job was already slated for someone else) as a way of demonstrating diversity metrics rather than sincerely seeking equitable hiring.

Morale, Burnout, & Pay / Recognition Issues

Employee reviews (e.g. on Glassdoor) frequently mention burnout, low morale, feeling undervalued, and feeling that compensation and recognition are not commensurate with the effort and risk.

There’s frustration over leadership decisions that seem to benefit the top (executives, shareholders) more than frontline employees. Raises, opportunities, and working conditions are seen as lagging.

Lack of Trust / Follow through

Because of past scandals, many employees feel leadership has repeatedly broken trust (e.g. promises that sales quotas would be reformed, changes to compliance, ethics policies). When things go poorly again, skepticism is high.

Some employees see discrepancies between public messaging and internal realities. Policies around return-to-office, diversity, performance metrics, etc., are cited as examples.

https://www.youtube.com/watch?v=8QNXItFgjTg

https://www.fool.com/investing/2025/09/28/prediction-ibm-will-thrive-in-the-ai-bo-m/

In the first plot select 'Insurance' and 'USAA':

https://www.economist.com/interactive/business/2025/06/16/corporate-culture?fsrc=core-app-economist&mc_cid=fa28ffc4ba

The second chart shows culture dimensions like Transparency, Candor, Strategy vs leadership, pre and post COVID.

https://www.reuters.com/business/energy/conocophillips-deep-layoffs-highlight-need-capital-discipline-analysts-say-2025-09-08/

Microsoft is in a strange moment in 2025, showing record profits and massive AI investment while also cutting more than 15,000 jobs, about 7 percent of its workforce. The latest and biggest wave of layoffs came in July, with 9,000 employees let go, following earlier cuts in May and June. CEO Satya Nadella addressed this paradox in a memo, calling it the “enigma of success”—a reminder that in tech, growth is never permanent or evenly spread.

Nadella said Microsoft is pouring $80 billion into AI and cloud infrastructure this year while shifting its mission from building static software to becoming an “intelligence engine.” He described a future where everyone can instantly access AI-powered research, analysis, or coding help. To make that happen, teams are being reorganized and capital is being redeployed, even at the cost of jobs.

The layoffs reflect a broader trend across the tech industry, where more than 80,000 jobs have been cut this year as companies adapt to AI-driven automation. Nadella thanked departing staff for their contributions but made clear there are no promises of stability ahead. Instead, he urged employees to keep a growth mindset and embrace the “messiness” of transformation, comparing today’s AI shift to the rise of PCs in the 1990s.

Source:

https://www.aol.com/finance/satya-nadella-enigma-success-age-195444502.html