I'm hearing rumors that there is a high probability layoffs will be happening soon. Is anyone else hearing this? I've seen a few post where people mention September / October. I haven't heard anything about dates but have been told just expect soon. Obviously this makes one nervous. For those who have been through this sh-- before does Chuck not mentioning anything during the call be taken as a good sign? Or, could one still be let go? If something does happen in September / October when would one expect it to happen?
15 replies (most recent on top)
Oct 5th
There were continuous layoffs as revenues were increasing over most of the past decade. The only reason to stop layoffs as revenue continues to decrease is that they can no longer get replacements to shovel the pile from one side of the barn to the other and back again.
The way to greater revenues is to stop moving the pile back and forth and start adding value. That's not going to happen with the current management and engineering. Unfortunately there is no viable business plan that starts with "fire everyone and start over again with people who aren't insane*."
*Insane: making the same mistakes over and over again expecting a different result.
IS going to happen. Most are not even hiding it at this point. Brace for impact.
This is a footnote in Cisco's Q4 earnings:
(1) In August 2016, we began taking action under a restructuring plan in order to reinvest in our key priority areas in which up to 6,600 employees would be impacted, with estimated pretax charges of approximately $850 million. During fiscal 2017, we have recognized pretax charges of $756 million to our GAAP financial results in relation to this restructuring plan. We expect this plan to be substantially completed by the end of the first quarter of fiscal 2018.
Rumors seem to be solidifying around second half of October. I can tell you what I do know.
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Q1 numbers looking very shaky. Lots of fiddling of forecasts going on (shifting commits from Q1 to Q4).
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Execs and PM's doing almost nothing but revenue forecasts. Constant rounds of meetings micro-managing the numbers. Sales teams getting increasingly p*ssed with the constant harping for numbers.
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people in the US being "strongly suggested" to take vacation in Q1. There's a whole bunch of sneaky financial enigineering strategies coming out
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Travel is almost impossible, even for director level.
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Budgets for equipment and OPEX completely seized
There are also rumors that all accumulated PTO will be paid out at end of year and so more finance smoke and mirrors coming.
Now, ask yourself? Does this sounds like a company that IS NOT planning layoffs?
The trolls awake. Don't feed them.
There will be no more layoffs in 2017. Stop scaring people
Hearing September 15 and 20, done by leader day meeting on the 28th. Lists already submitted for managers not affected
Looks that vision of ever-upcoming layoffs is now reality at Cisco. Will there be anything in September/October? I don't know - if I were to bet, I would say that nothing big is going to happen now. Maybe some small cuts here and there, in BUs lagging behind the target, but nothing big.
The earliest I would expect something to happen at the corporate level, is around Q2 results.
But only life will tell.
@P89UF9U-myt - doomed.
I want to know about SPVSS as well especially in lawrenville, GA...
Anything about SPVSS?
The upcoming layoff is the writing on the wall. Cisco is managed by numbers. When the top line revenue goes down, OPEX has to drop also. You for sure will see the silent LR coming your way.
HR needs to lay off the entire ELT team. That'd get the numbers down and save several people their jobs.
Yes, I am from Bangalore, I heard dozens of buddies had been axed after earning call