https://www.bloomberg.com/news/videos/2023-01-18/cisco-plans-no-further-job-cuts-ceo-robbins-says-video
12 replies (most recent on top)
Kiddies, remember Cisco is not a growth company anymore. It hasn't been one for about 15 years, so it's stays relevant in the investment community only by masquerading as an income stock. If it loses the ability to pay that dividend, it's a goner. So every decision made by the ELT is NOT linked to whether they can pay their employees a bonus, but rather in their ability to churn out that divvie. They masquerade as a woke company to placate the worker bees, but deep at the core, their major investors are king.
This is just a lie. He said that the last time and it just happened again. CR cannot be trusted. They don't care about employees, they only care about the bottom line.
Could take this another way other than CR lying. That he has no idea what he'll be doing in 3 to 6 months time. In other words, no strategy, no plan.
The sales layoffs are going to be mostly in commercial.
Large sales layoff first week after fiscal, per my VP
I'm not sure the sole reason Chucky boy lies to get us "peons" to drop our guard.
More likely he lies to protect the shareholders.
He always lies to get us peons to drop our guard and not run to another job.
A polar news floating around on Monday’s big cut in some areas were part of the Dec 2022 announcement. Some folks noted the 200M restructure charge in Q4, and that could be it. Some geo and BUs were just implemented the plan in multiple phase. True of false? Who knows. And will there be a further Announcement at Q4 earning on Aug? Who knows as well.
That was an Interview in January
Unfortunately this is just how Cisco does things. They can’t actually build anything, so they get new functionality through acquisitions. After a few years there are tons of redundant roles and they lay people off. Rinse and repeat sadly.
That means blue badge, contractors aren't people.
Here’s a hint: Chuck lies. Repeatedly. All the time. Came out in April 2020 and proudly announced “no layoffs” during lockdowns. Guess what? Only 3-4 months later , during deep lockdown, Cisco triggered off a cluster feck of layoffs and forced ERs that saw lives of over 12000 blue badges impacted.