I’m not looking for rumors, has there been any credible news or updates?
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An NDA doesn’t cover illegal activities. So if this is true, then get the balling rolling with legal action. And then post the docket number.
There is a hiring freeze in G2’s org. That’s a massive part of the company. Even mega-vital roles aren’t being filled.
I had an NDA. I was actively involved and what we do to people is so wrong! We focus on reducing costs and getting back the options people were loyal to Cisco for. Being over 60 makes you a high risk too. We are a sick and sorry leadership team!!!! It will continue until all of this is unearthed in a class action lawsuit. We have ways of staying legal, so the way forward in a class action is to show all the lies made to shareholders about the reasons for the LRs. Calling it "restructuring" is a loophole that needs to close, as it is not!!!!
I was in a force reduction / retirement. At 60 years old they enabled me to buy a house CASH!!!! I loved the ride!!!
On the sales side, service sales and renewals are expected to be hit. We've struggled to get reqs approved after losing employees on the service sales side, and that's often pretty telling when you are down headcount and are consistently unable to get reqs approved.
You know LRs are coming, it is how Cisco does repeatedly does things. "Powering an inclusive future for all", really means ki-ling the future for so many faithful employees, but have been so misled! Cisco will build you up, and then enjoy tearing you down, especially for folks 55+. What a sick, sick, culture we have! The ELT will continues to get rich and greedy until they are held accountable.
Only positive I see last few months is new hiring slowed down a lot. In Q4 they went gangbusters with hiring before the layoff announcement. This slowdown might be good sign no LRs coming up soon.
I'm putting names on lists right now.
I'll keep laying you off until the morale increases.
Things get excessive before returning to mean. Same things are happening for excessive h1b foreign workers hiring, that may be cheap, but not skilled and qualified. It may be too late before ELT realizes mistakes made, in process losing precious technical folks to competition.
Now immigrant President Musk is in charge, and H1Bs will ramp up accordingly, expect further LRs.
White male republican voters are pretty lazy, and Cisco would be better serviced with hundreds more Indians
We've known since August that Cisco set aside $200M-$300M for a second round of layoffs during the fiscal year and the total allocation of $1B was targeting a total of what was reported as 7% or 5,600 people.
If I were a betting man I'd expect them to start the remaining layoffs in Q1CY2025 so they have a six month window for the market to forget again so they can announce new rounds in the fiscal year end conference call in August, saying they've transitioned to an AI focus and need to accelerate that AI focus through more layoffs.
Note that Splunk's final year was over $4B in revenue and over $1B in non-GAAP net earnings and Cisco has been losing yoy revenues and earnings despite what Splunk might have brought in if their performance didn't change, implying the rest of Cisco is sinking even faster that it appears. This and any unexpected results could mean additional volatility.
What does your gut tell you?
Yes know, but not risk talking.
Bo Fa
They require NDAs from anybody who knows ANYTHING.
That's not how these things work. People who talk, don't know. People who know, don't talk.