Citrix Systems beats profit expectations, to cut 900 jobs
Citrix also said fourth-quarter earnings per share, excluding non-recurring items, rose to $1.10 from $1.04 a year ago, and exceeded the FactSet consensus analyst estimate of $1.03. Revenue rose 6% to $851 million, topping analyst forecasts of $844 million.Well done, Citrix employees and contractors. You not only hit all revenue and EPS targets, you exceeded them! Thank you for your hard work. Now, we are going to fire 900 of you so we can buy back more stock and pay bigger bonuses to the CEO that already makes $11.5 million per year and 150 times as much as you. Don't forget to buy a government health care plan now that you don't have a job, or you will pay a tax penalty.
I was a believer in your theory after reading the headine, but then you've already heard my personal experiences, lol. Sigh.
ReplyDeleteStagflationary Mark,
DeleteI remember being in a big meeting at EDS (my first big corporate job) in the mid-80s and the mucky-muck manager told the crowd how well things were going. All targets met, big profits, and for a reward, we all had to work even harder to beat those numbers next quarter. I thought, so the harder we work, the harder we have to work in the future? Wait, the founder is already a multi-billionaire and it wasn't enough? Something didn't compute.
Sounds like that Dream Works film Robots when Big Weld Industries was taken over by Ratchet who totally changed the company motto and became *flashy* before our hero showed up.
DeleteNo matter how hard you work, they will eventually put you on the street so management can make a bigger bonus or offshore the work to some third world country. Its quite nice how the CEO's can destroy a company and walk away with millions.
ReplyDeleteEspecially since they get help from secret societies like Skulls n Bones or the Illuminati.
DeleteReal problem with this are biased journalists so if the headline is biased towards a company the corporate executives do not read past the headlines or maybe the first paragraph at best if it's a business news site.
ReplyDeleteSo if a headline is biased and says "Company's Product X Launch Is A Success Click Here For Details! Then the company would think that everybody must love Product X so we will continue to make more of it!
If the headline is biased AGAINST the company and the headlines read "Company's Product X Launch Is A Failure The Cat Is Out Of The Bag click here for details!* They don't bother the clicking here for details part that explains some of the problems and what can be done to fix them.
Most likely they stopped reading past the word *Failure* so assume that nobody likes the product which in reality the product might have a few minor glitches that are very annoying that can easily be fixed with a firmware patch then the product would be great!
Equally with the other spin of the headlines they don't read past the word *Success* and go to the bank to get their money assuming everyone is ln line with their thinking.
That's corporate think tank for you ran from college people who don't really know much about business/economics other then seeing dollar signs float on charts so we are stuck with bad choices of *false* capitalism or communism.
Neither represent free will.