Friday, November 12, 2004

Please Explain...

Michael Cherkasky, president and chief executive officer, told a conference call with analysts that more staff cuts may be necessary as the company seeks to "right size our business depending on our revenue."

Wait a second now. Revenue is up...
  • Revenues totaled $2.97 billion in the third quarter, up from $2.84 billion a year earlier. That's an increase of 4.6%.
  • For the first nine months of the year, revenues were $9.22 billion, up from $8.55 billion in 2003. That's an increase of 7.8%.

So, why is "rightsizing" necessary again?

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