Cisco laying off 7,000 employees after August 13 earnings call. No need to report, happening to different locations at once.
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Chuck said to Kramer on CNBC that there are no layoffs :)
Speak with your doctor. Ask to take you off your medication, it has obvious side effects. Unless your name is chatgpt in which case halicinations are explicable
@bs well said! Apparently the Street knows something we don’t. Sold mine near $72.55 which was the recent peak.
Stock is down significantly, they do not want to announce it publicly because it can bring it more down. sold it at 71. It will not hit 70 any time soon.
@b1 AI bots are saying it but that’s the announced number from 2024
Stock price is down. You are safe.
How you know the number of 7000? So many fake post here just speculation.
If Cisco refuses to state the real numbers, then I say speculation posts are fair game.
Big or small, it doesn't matter, the end result is the same. In the short term, the balance sheet improves, but in the long term, the company's death spiral accelerates as morale plummets and everyone who was slacking before the layoffs is still slacking.
I feel like if it was that high it would be widely reported
@OP the truth is less than 600 world wide, but your notice will be sent out early next month.
Its a race to the bottom, the tech industry will be unrecognisable in a few years thanks to AI and other tech advances. These massive corporations simply won't need as many workers and will pivot away from expensive, slow human labour. People need to realise these companies only exist for profit.
Suggest you find work with ethical tech companies instead or organise/unionise for a better future.
https://www.youtube.com/watch?v=gH2UHobXt1E
Where did you get the numbers from