https://finance.yahoo.com/news/cisco-cut-thousands-jobs-seeks-175409508.html
17 replies (most recent on top)
Why is anyone surprised that Cisco is doing a layoff? Why discuss about something that happens each quarter?
BTW Twitter cut 75% and still surviving. Looks like Cisco is following the example. I won't be surprised if they LR 50K.
the only thing that matters is the stock price and wall street needs to see cisco downsize to 50K headcount to keep the stock from tanking
30K Cisco employees will be let go and add back 5K Splunkers to bring total employees in line with reduced revenues
@ubu+1qZ9wv6l That's 25-35% of the company. That's not even close to realistic.
Lucky that thousands not millions
...it feels like we are just cogs to the company.
From the Powell Memo, now that management has "been trained or equipped to conduct guerrilla warfare with those who propagandize against the system" where the system is corporate America you are just cogs to the company. Alan Greenspan went on about how much easier it would be to make everyone poor rather than try to raise everyone to the middle class and why the government needs to provide companies with endless cheap labor from abroad based on need, not ability to pay. Meanwhile we have people here saying they deserve a million dollars for being able to hide at Cisco for five years before being laid off. Arguably reason is dead.
That means no matter how many lives they destroy now, they can do the same all over again couple of months from now during the next quarterly reports.
There have been many years since 2001 when Cisco was doing quarterly layoffs every quarter. You are a communications company - why is this still news to anyone?
@mya+1qZ9wv6l
Very well said, this has 100% been my experience.
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If we need to cut headcount, do it once and do it right. Not an annual "time to do CPR to keep the share price over $40, so fu-k you" across all BU's (even the healthy ones). Anything less shows worse strategic direction than I am expected to bring to the table in my own, much-lower-paid, job, which again, who fu--ing knows if I will even be here to follow through on those long-term strategic plans?
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This is exactly how things come down from the top. No real transparent explanation for employees. Oftentimes it's actually the opposite of the truth (mandatory pto, hiring freezes, travel freezes, shutdown pto). Everything we get from leadership is completely opaque, and it feels like we are just cogs to the company.
I never thought I would see the day.
We have a medium sized enterprise and my VP is on a witch hunt to get rid of all our Cisco gear. Sad change. Ten years ago we were 90% Cisco enterprise. Now 10%. Biggest issue has been support. Gear has been solid, but had a few critical outages and Cisco dropped the ball. One major outage took four hours to get a knowledgeable escalation engineer on the phone. Really sad to see that level of urgency and expertise availability change.
He said he is tired of paying major subscription charges for nothing.
If this is our network, it has to be repeating all over the world.
Sad, because it once was a great leading business model.
Put JK and AR out to pasture. Useless
I really hope they at least do the job less terribly this time. Last round was exactly as botched as the business decisions that brought us to it. There was no reason to chop the heads early in the fiscal year, then wait until the end to chop even more.
It was truly chickenshit execution to make people think last fiscal year's LR was over, they just barely stop searching for their own exit plans, and then fu-k over more of our colleagues anyway.
To cause people this financial harm so flippantly and then fall back on "well actually if you re-read our vague statement from months ago we kinda announced it might happen" made me, and probably many of our friends & colleagues across the organization, lose a lot of respect for SLT. Even if they really do care that little about the livelihoods grinding thankless jobs to make all their bonus money, it's stupid of them to show it so blatantly.
We will absolutely not reverse this cycle and achieve any long-term growth for this business if we keep repeatedly ki-ling our employees' ability to think long-term by reminding them of the odds they won't have a long-term on our payroll. Most of our staff will be thinking about exit plans to our competitors and how to pay their bills. I will be thinking about exit plans to our competitors and how to pay my bills.
If we need to cut headcount, do it once and do it right. Not an annual "time to do CPR to keep the share price over $40, so fu-k you" across all BU's (even the healthy ones). Anything less shows worse strategic direction than I am expected to bring to the table in my own, much-lower-paid, job, which again, who fu--ing knows if I will even be here to follow through on those long-term strategic plans?
I am a newer hire and I get the sense I'm being overly fu--ing optimistic about this exec team's ability to stop the ship from sinking. I hope I'm wrong, or they at least get some better people into real decision-making capacity, for all our sakes.
Who in Collaboration will get the boot? Finally JP, JR, and AR? Have LH run the sorry show of what remains of the mess?
How many of the ELT will be LRed?
Yes, this the big one-LR will be in the range of 20,000-30,000
Cisco to cut thousands of jobs as it seeks to focus on high growth areas: Sources
Utkarsh Shetti and Supantha Mukherjee
Fri, February 9, 2024 at 12:54 PM EST
(Reuters) - Network giant Cisco is planning to restructure its business which will include laying off thousands of employees, as it seeks to focus on high-growth areas, according to three sources familiar with the matter.
The San Jose, California-based company has a total employee count of 84,900 as of fiscal 2023, according to its website.
The company is still deciding on the total number of employees to be affected by the layoffs, one person said.
An announcement could come as early as next week, as the company prepares for its earnings call on Feb. 14.
In November 2022, Cisco announced during an earnings call a restructuring that impacted roughly 5% of its workforce which lead to $600 million in severance and other charges.
Cisco declined to comment.
The move would come at a time when tech companies, including telecom makers Nokia and Ericsson, cut thousands of jobs last year in a bid to lower costs.
Several big tech firms such as Amazon, Alphabet and Microsoft have implemented layoffs in recent weeks.
Cisco had cut its full-year revenue and profit forecasts in its previous earnings call, in a sign that demand for its networking equipment was slowing.
It had blamed the weakness on a slowdown in orders in the first quarter, saying "customers are currently focused on installing and implementing products in their environments."
The most ominous sign is the following statement, " The company is still deciding on the total number of employees to be affected by the layoffs, one person said." That means no matter how many lives they destroy now, they can do the same all over again couple of months from now during the next quarterly reports.
All the best to everyone. May the Dark Side subside.
Rumors?