Missed the earnings call. Any amount set aside for an LR?
16 replies (most recent on top)
Trolls making sh-t up now lol. Majority of LRs were done last year
That was fast. A day after earnings call? I thought that they would at least wait until Monday. This set up for a very bad weekend.
What BU’s were impacted?
500 employees impacted. Half in the US. Our last day is July 14. Most get a 4 month severance package after the next 2 month “transition period” is what they call it. What does that even mean? Moe payment if you have 10+ years. Christ. Every 6 months like clockwork. Have to make room for the Sp--k kid$$$ right?
Was informed this morning (5/15/25) that my position at Cisco was eliminated due to a LR
It is funny watching Cisco act like there is any legitimate AI business to speak of. I wonder when that house of cards will fall. It appears it has bought some time for now. Let’s see how long the economy can hold out, if there’s no crash Cisco is looking pretty good. If the crash happens I could see Cisco with one of the largest layoffs yet.
If there is some restructuring budget left according to SEC filling.. proportionally it looks like 3-4% LR remaining to go.. assuming 65% of budget was used up for 7% LR..
Everyone would be laid off one fine day, enjoy your time until then.
The press release says this
```
Reflects charges related to a restructuring plan announced on August 14, 2024. We expect this plan to be substantially completed by the end of the first quarter of fiscal 2026.
```
I did not check to see if this was in the previous release.
By the way it is phrased I would say that it is wait and see, see what the tarrifs mean for us and for the economies and the decide i
Read. The. Release. Id--t-x.
Read the press release. There’s a line that says “(2) Reflects charges related to restructuring plan announced on August 14, 2024. We expect this plan to be substantially complete by the end of the first quarter of fiscal 2026.”
Something is coming within the next 5-6 months. It’ll be a continuation of the August announcement, so probably small.
I like the CFO change.
Jeetu is a wait and see. He will have 6-12 months to make an impact.
The new OpenAI board placement was a solid move.
The Saudi deal is tbd, but could be a big winner if they play their cards right.
Should be leaner coming into the change with AI - they could cut 10-15% headcount and not lose any productivity
There is no way. Our numbers looked good.
Nothing was reported for layoffs.
Do some work - listen to the replay.
Humans are so lazy in 2025. Always looking for the handout.
Yes, 7%