Thread regarding Cisco Systems Inc. layoffs

Earnings Call: 7% workforce LRed

From today's Earnings Call, Scott's (Chuck's bïtch):
"[layoffs] is not about cost savings; so the answer is yes, it's embedded in the [next fiscal year] Guidance; but it's much more about finding efficiencies across the Company, so that we can pivot more resources (much like we did last year) into the fastest-growth areas within the Company, which are pivoting more into AI, pivoting more into"The Cloud" and pivoting more into Cybersecurity. So think about it more like "reallocating" versus being in pursuit of cost-savings.".

7%, so about 6k people being laid off.
Meraki is safe, Splunk is safe.
AppD is completely culled, CX is cut in half.

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| 3861 views | | 19 replies (last August 15, 2024) | Reply
Post ID: @OP+1u0ZAknk

19 replies (most recent on top)

Just cut me a check already....

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Post ID: @1hul+1u0ZAknk

And once again American elitists sticking up everyday Americans as!* and selling out our nation for a few bucks. That’s a problem.

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Post ID: @1tgs+1u0ZAknk

Meraki revenue is crumbs. Don’t fool yourself. They never delivered because the product is for SOHO.

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Post ID: @bgq+1u0ZAknk

If they "pivot" with each quarterly report, then they're walking in circles.

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Post ID: @zce+1u0ZAknk

Meraki will be safe, with less employees generates big $, this group use third party company for HW dev. Cisco should proud to them.

Not sure about App D. : it was big hope then quite....
Splunk : not sure will success with Cisco, different business segment, look back to Webex and others.
Acacia : not sure will worth in generating money for CSCO, many product duplicated with TMG. and many companies (incl. startup) developing higher speed (make sense).

CSCO invested $1bil to 3 AI companies (SW), acquisition is possible.

pressing from the share holder getting hard and hard, should expect more layoff next year.
thousands layoff meaning that csco is give up to the situation & condition.

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Post ID: @xbf+1u0ZAknk

I love how Scott literally mentioned low cost areas. Haha fu buddy.

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Post ID: @xrp+1u0ZAknk

If Splunk is the next-best-thing-since-sliced-bread...
If Splunk makes mad dosh for Cisco when AppD doesn't... Why would they keep 4k working in AppD...
When 4k working in Splunk are so much better?

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Post ID: @tlx+1u0ZAknk

Entire CX org is moving to India and Mexico. If you're in CX and not based in India or Mexico, you will be replaced by a new hire in those 2 locations. Net loss will be 6k companywide.

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Post ID: @rmj+1u0ZAknk

Splunkers got a message that GS was involved, I expect Splunk will also face cuts, maybe not as many proportionally based on the repeated name dropping on half the slides.

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Post ID: @kdr+1u0ZAknk

They did not want to say that "Cloud" (which I read as CX Cloud) underperformed, but in QA kinda confirmed this between the lines. They immediately mentioned reorganization and resource reallocation, which I read as "CX will be one of the main focuses of LR".

This is the most farfetched conclusion I made however, for rest I am more certain of. I kinda used some knowledge outside of this call regarding to situation at CX.

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Post ID: @sxh+1u0ZAknk

Scott is the ax-man... been cutting heads since he got here.

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Post ID: @efp+1u0ZAknk

Does anyone got email or 1:1 regarding lrs yet ?

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Post ID: @mty+1u0ZAknk

They fellated themselves throughout the call how great Splunk acquisition has been, and will be for growth.
It was funny because they gave stats w/ and w/o Splunk, and it would seem that without Splunk Cisco made no money.
So that's what I read as "Splunk won't be touched".

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Post ID: @dgu+1u0ZAknk

Did they say specifically cx cut in half?

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Post ID: @hmg+1u0ZAknk

They said that "wireless" made record sales and subscriptions which exceeded expectations. I read this as "Meraki will be minimally affected by LR".

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Post ID: @oaw+1u0ZAknk

He actually said " The efficiencies will be accrued by moving to lower Cost locations"

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Post ID: @pdg+1u0ZAknk

Where did they say AppD completely cut?

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Post ID: @elc+1u0ZAknk

LR....LR...another LR....nothing to see here eh Scott? Business as usual.

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Post ID: @mse+1u0ZAknk

How do you know splunk is safe?

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Post ID: @dud+1u0ZAknk

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