In the ER meeting, there was hardly any mention of layoffs, except a brief blurp "efficiencies" in sales teams.
They kept repeating "laser focus" on progress.
Every category was reported down/soft, including forward guidance for the next quarters. The analysts didn't press enough on this issue as time was taken to talk about Mist. Mist was the excuse vehicle for this quarter.
....Anyone semi-internally macro connected knows that fiefdoms don't get along with one another and are largely directionless and too manty tiers of incompetent/lazy/bureaucratic leadership that lack true knowledge of the products/market. Then toss in voluntary attrition of the very best and then add layoffs. All of which leads to extremely weak execution just to keep up.
I suspect buybacks is a mechanism that is heavily used to buoy the stock from a harder drop after ER.
How many quarters can this go on for so long before the water bogged wood gives way to the full truth of the situation?...
Reposted from @YKR72YI-6epu.