And no I’m not talking about the election results. If you thought we’ve had layoffs before, from tomorrow onwards it’s going to be really, REALLY ugly.
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Only lost $1.07 per share. $137M.
They’re looking to save the full year 2024 numbers. Even the October layoffs won’t have any impact on the Q3 numbers.
Disagree that they finished all the cuts before earnings.
Across the outside world (almost all recent cuts were Inmarsat staff, not in USA) the savings come later as other countries pay material severance (6m to multi year salary) with liabilities to laid off employees stretching out into future. So, the numbers won’t look better for some time and may look worse in coming months as costs of severance are accounted.
It will make sense to do more cuts right after earnings if earnings go badly and Investors demand touch actions of Leadership.
They would’ve finished all the cuts before earnings so that the numbers would be better. It wouldn’t make sense to do any more cuts right after earnings.
Will the OP please elaborate?