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I love all the posts where someone claims " X " number of people will be laid off. I have followed this site for 10 years. Not once has any of these type of comments been even remotely close to accurate. However what has been accurate " most " of the time is rumors of layoffs. Except this year people were claiming a layoff in November and it never took place. All of you people making wild claims of 15k or 7k or 10k are on some good d–gs or like to troll.
Aug 1 or before?
Based on information I received from my sources - some of whom are seniors managers n directors, they will cut about 10k this summer.
"So you begin to think, maybe it’s me."
It's not. Really it isn't you... Well it may be you too - but it's definitely Cisco.
- - ex employee, and happy to be so.
Working at Cisco is like being in an abusive family.
A family member gets hit, punched in the gut and then the next day leaders pretend that nothing happened.
You never know when the next blow will come. You live in constant fear.
And then you’re told that the company cares about your mental health and that everyone else thinks it’s a great place to work, in fact it’s even ranked that way.
So you begin to think, maybe it’s me.
Cisco starts new round of layoffs
By Aaron Tilley
Published: Feb 27, 2020 7:56 pm ET
Cisco Systems Inc. has started a new round of job cuts as the networking-equipment maker faces the prospect of slowing sales growth because of global economic uncertainty.
The layoffs, Cisco told The Wall Street Journal on Thursday, are "part of an ongoing process of aligning our investments and resources to meet the evolving needs of our customers and partners." The company, which has around 75,000 employees, declined to say how many people were affected or what roles they hold.
Cisco said it would support employees who are affected.
The San Jose, Calif.-based company said this month it expects revenue to drop between 1.5% and 3.5% in its current quarter. The decline would come on top of a 3.5% year-over-year drop in revenue for the company's fiscal second quarter, which ended Jan. 25.
The company said, at the time, it had begun a restructuring plan that could lead to pretax charges of around $300 million, including severance payments. About half that amount, Cisco said, would occur in the current quarter.
Cisco, like other technology companies, said it was on alert for potential impact from the coronavirus outbreak on its business. Apple Inc. and Microsoft Corp. are among tech giants to warn that the outbreak was affecting their outlooks.
The job cuts at Cisco come as it is changing its sales focus from hardware such as servers, routers and other gear to software services.
Write to Aaron Tilley at aaron.tilley@wsj.com
This is all over the news.
The total of this and this summer's LR is supposed to be closer to ~15k.