1 warning, 2 big downgrades within 5 weeks, page-13

Was working at one of the big 4 banks last year.
Am working in another large business in another industry currently.

Both are investing heavily in moving to to the cloud. On Prem servers are marked for death.

Its not necessarily about cost reduction overall, its about the ability to rearchitect very old crappy systems (you wouldn't believe the rubbish that runs the largest companies in australia: Sticky tape, string and blue tack is all that holding them together) as cloud native which gives them elasticity and nimbleness.