This is a Manufactured Crisis so Corporations can get richer in a few ways: 1. Stock buybacks - public companies make billions on that without even needing to come up with new products. 2. Further increasing profit margins by reducing payroll costs so they move to hiring foreigners on visas like H1B or OPT, offshore hiring in Asia and Mexico etc, or opting into hiring Contractors.
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How do you think business works? Most of you wouldn't make it if you had to run one. You would be on the sidewalk whining because no one wanted to come into the ur--e pop store your engineering mind so brilliantly dreamed up. You can't keep paying the salaries of not only the incompetent ELT, but also the legions of deadwood engineers at csco with mid and upper $100k jobs. Most should be working a third shift bank job making $40k. It's seriously stupid. like even beyond BGL stupid.
its very simple
do you know why a company conducts layoffs?
because it can
the larger the company, the more likely it can survive by
- eliminating an employee entirely
- replacing an employee with someone cheaper
at this point, I would only tell a young person to be a cog in the machine if it was a matter of getting immediate money...I expect employment at large corporations to fall out of favor and be seen as a form of "setting"
It’s clear they want to cripple the middle class and make us all poor.
Many who have held power like Alan Greenspan have been saying this publicly for ages. There hasn't been a need to read between the lines for more than 50 years.
As for OP, Cisco has been losing market share, revenue and earnings because as a software company Cisco has no idea how to develop software and keeps trying to bail out the water coming up through the big hole in the boat with a teacup. That's on the rank and file as much as the leadership. The collective "you" made the laziest Faustian bargain ever and act all surprised when you reap the consequences.
It’s all connected but no one cares or will listen.
Everyone calls me a conspiratard but it's in the rhetoric.
"You will own nothing and be happy."
This week is going to be bad
If folks can’t see that this is a concerted effort by all of these companies then they have a bigger problem than a layoff.
It’s clear they want to cripple the middle class and make us all poor.
Using stocks to keep you but stealing them back when they lay you off is diabolical
So many are getting laid off so something has to be up. AI my azz.
Yeah blackrock will make sure you lose your job so they can foreclose on your house. It’s all connected but no one cares or will listen.