This is worth reading - the Q2 2024 Earnings Call transcript
https://seekingalpha.com/article/4710648-teradata-corporation-tdc-q2-2024-earnings-call-transcript
Some points to note taken from that transcript:
“In addition to gross margin strength, we benefited in the quarter from lower operating expenses due to reduced headcount and variable compensation. “
Charming - what a great company - remember, we are all family - and that includes the random mur#ers we have to carry out to keep the family afloat.
“We are taking proactive measures to reduce operating expenses across all aspects of the business. We're focusing on reducing expenses in non-revenue generating areas, including a reduction in headcount of approximately 9% to 10%.”
Is that enough 'writing on the wall' for us?
“Yeah, of course, Tyler. So, absolutely. So, our total annualized run rate savings expected from the headcount reductions is $75 million to $80 million, of which $15 million to $20 million is expected in 2024. As I mentioned, some of this is going to happen over the next six to 12 months, and not all of these actions will take place in '24.”
So layoffs will continue this year and into 2025. Hooray for the incredible business acumen of our illustrious leaders. Your sacrifice makes us so proud.
Wake up call received loud and clear.