Secondly, we have to apply the usual filters to public statements released by leaders of publicly traded companies and in this case, there is suspiciously little evidence beyond vague assertions that this is the flattening out. In support of this, is a statement buried at the bottom; "The company will continue to make cuts in the current quarter, but doesn't expect additional layoffs, he said." What else would you expect him to say? If you process the dollar amount of cuts already made ($1.5B) and number of layoffs already made (2,000), you have to wonder how much more they can cut without laying off additional people. However, ZH do not claim to be tech analysts so we'll leave it up to our readers to deciper John Chambers' statement.
Overall, this seems to be a half-hearted attempt to revive the Cisco stock price; the broader macro implications are important if true but we would prefer to see actual evidence or logical thought before we put on the party hats and spike the punch.Sphere: Related Content Print this post