This is about as close as you'll ever get to a CEO actually admitting that doing layoffs for the sake of the short-term (lol as if that even needs to be stated) stock price actually had a negative business impact.
I once worked for a public company that panicked if it looked like the company wasn't going to meet its quarterly earnings projection. All the actions that the company took--layoffs, getting rid of contractors (also layofs), making employees take banked PTO--for this short-term benefit negatively affected the company's ability to meet its longer-term goals. It was infuriating.
I once worked for a public company that panicked if it looked like the company wasn't going to meet its quarterly earnings projection. All the actions that the company took--layoffs, getting rid of contractors (also layofs), making employees take banked PTO--for this short-term benefit negatively affected the company's ability to meet its longer-term goals. It was infuriating.