"On the same day, Cisco published its most recent full-year earnings report, in which the company said 2024 was its 'second strongest year on record,' citing close to $54 billion in annual revenue."
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"On the same day, Cisco published its most recent full-year earnings report, in which the company said 2024 was its 'second strongest year on record,' citing close to $54 billion in annual revenue."
Also, I think every story about layoffs should have the CEO's earnings listed. Nice work, @zackwhittaker
Cisco's second layoff of 2024 affects thousands of employees | TechCrunch
Cisco's executives made tens of millions in compensation, while cutting thousands of jobs in two separate rounds of layoffs.
TechCrunch (techcrunch.com)
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@spiegelmama @zackwhittaker @tinker should also mention stock buybacks - in many cases the same companies like Cisco doing mass layoffs also spend billions on share buybacks each year.
(Cisco spent over $1.3B on stock buybacks in the 3rd quarter of 2024 alone along with $1.6B in stock dividends) see https://investor.cisco.com/news/news-details/2024/CISCO-REPORTS-THIRD-QUARTER-EARNINGS/default.aspx
Even at tech worker salaries that would have employed a lot of people.
(I am a Cisco shareholder though it’s a very small part of my portfolio)