Bay Area 395
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Tax cuts! Bring in overseas money ! What did they do ? Stock buy backs and more bonus to upper management. More stock buy back.... outsource.... layoffs. Going round in circles. Profits ! Profits ! Shut down local centers and ship jobs. This is all a big bubble! Correction in real estate and stock market was due. But this is a tsunami!
We are all screwed in this cycle. Time to reset the way things work in this country. Keep insurance separate from your job. People will take more risk and look for better opportunities.
Please don't post racist comments. All it does is make you look less intelligent than our peer Eastern humans who are always better mannered, more humble and polite. Don't insult please, it's not good for anyone.
CX has been a dead man walking for how long now?
H1Bs don't use graves for their dead, they incinerate them to ashes. In China, they do the same.
If you can drive. Backhoe, I believe they are looking to recruit grave diggers.
@4jwt+13XICBTP Yes, They announced mass job cuts in UK couple of weeks back. We all who work at Bedfont Lakes have received emails . Cuts are targeted at Sales, Engineering and CX. They did the same about 6 months here as well. Not sure how many will go this time but it will be a minimum of 99 people - as per UK law this sort of email has to be distributed as info as part of the local process of laying off 99 or more people. 6 months back it was rumoured to have been approx. 250. Not sure how many will be affected this time.
Counting days to hear whether or not I get chopped off in a market where all companies and industries are in a lockdown and no one is hiring or will be hiring for the next 2-3 months at least. And if we do hit recession and/or depression, then an even longer period of time. God Bless Cisco!
No, but I’m sure the lights are burning late at night in the CFO’s office to try and figure out what the impact has been so far, what might happen and what they do about it. Let’s say we take a 10% revenue hit for Q3. What would be guidance for Q4? Another 10%?
They are not going to sit around if that happens.
Is anyone hearing about more layoffs in the upcoming days or weeks?
It might surprise you to learn that there is actual human settlement outside of the Bay Area.
Where did they spend the 150 MM , with 395? Or is the bulk of it in senior execs leaving?
https://www.bizjournals.com/sanjose/news/2020/03/13/cisco-hitachi-vantara-lay-off-546-workers-in.html?ana=yahoo&yptr=yahoo
That's all? In that case, ex Broadsoft people got hit a lot harder than other groups.
https://www.edd.ca.gov/Jobs_and_Training/warn/WARN-Report-for-7-1-2019-to-03-10-2020.pdf
effective date 26 Feb
It's past LR or future?