Thread regarding Cisco Systems, Inc. (CSCO)

It seems that the announcement of massive layoffs doesn’t have the desired effect on stock value as it had in the past. These days announcing layoffs is usually followed by stock going down. Could it be a sign that investors are more cautious about willingness to make cuts being a sign of healthy mgmt or the way to recovery? Layoffs have been overused for the past decade as the go-to cost-cutting measure, and the market reacts accordingly.