Title says it all. I'm sorry for those who will be impacted.
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where are yall getting the 14,000 number? Filing shows 7% of workforce.
Was there really a massive reduction in red badges a few weeks ago?
Where did you get info about the severance being lower, how much so?
Severance is cut back this time
Average salaries are lower than last LR so more people this time
Red badges are not included. This is FTE only.
the $1B could include paying out PTO
I'm sure that includes the massive reduction in red badges that happened two weeks ago.
$700 - $800 million in Q1
The LR earlier in the year was $800 million with $500 million hitting in Q3.
So bigger
Feb 2024 was $800M
(1) On August 14, 2024, Cisco announced a restructuring plan to allow it to invest in key growth opportunities and drive more efficiencies in its business. In connection with this restructuring plan, Cisco currently estimates that it will recognize pre-tax charges of up to $1 billion consisting of severance and other one-time termination benefits, and other costs. Cisco expects to recognize approximately $700 million to $800 million of these charges in the first quarter of fiscal 2025 with the remaining amount expected to be recognized during the rest of the fiscal year.
That number seems more than just LR. Maybe a small ER allotment?
14,000 Employee Layoff Worldwide included in the $1Billion Restructure Expense in Report
$300M == 4000 cut (Feb 2024)
$1000M == 1000*4000/300 = 13,333 cut (Aug 2024)