The fact that we don't know whats going on, is by design. The Gary Steel has implemented a shield the field mandate, where they hide any meaningful changes to the field. At times, this creates a massive disruption since most don't even know if they will be employed by next quarter. Would be nice to have a little job security, but they have turned it into an indiscriminate Hunger Games for ALL jobs.
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10% cut
Stocks touch $80 due to the increase in EPS and dividend
Cisco's revenue growth year over year was -5.60%, its earnings growth was -25.50% and they'd have to take another $1.4B charge to get rid of 10%. This spells desperate failure, not something beyond the already irrational exuberance. The only reason the layoffs haven't been seen as worse is Cisco typically ends up hiring as many or more replacements making the "refocusing" story appear vaguely plausible.
So any bets on when Steele takes over from Robbin’s?
Man of Steeel with repeat what St-lin (Man of Steel in Russian) did there. The great purge.
I expect two things within one year of he taking charge
- 10% cut
- Stocks touch $80 due to the increase in EPS and dividend
Gary will make Cisco Great Again! It was written!
I'm amazed that more young people aren't recognizing the high risk of working at a large corporation (in any industry)...
Different career paths have different needs. There aren't a lot of five person startups designing 10B transistor chips or some of the largest deepest boards in the industry. On the other hand, bug fixing 40 year old code written in pseudo COBOL is an anti-career.
I think for most young people (myself included when dinosaurs roamed the earth) we were taught you get a good degree and get a good job at a stable company. There are a small number of niches in a few companies where great work is done where you can both fully use your existing skills and grow new ones, and if you never worked in that kind of environment I don't know how you grasp how bad things are where you are. The result is a lot of bad engineers who could have been great had they had the right opportunities.
Im not going to disagree with High Tech being risky. However, where Cisco has hurt its employees is its constant cutting with little to no sense why, where, and who. It can't be normal to layoff EVERY 6 months. Yet Chuck continues to do it, and complains when people bubble it up. Think about it, Cisco has closed a huge amount of its Real Estate footprint, to save on expenses. Where do you take your customers once the Economy bounces back. Cisco continues to cut its employees creating a huge brain drain and we are suffering at all levels including operations, sales, engineering, and support. To finish it off, movement within the company is limited to who you know... no longer the best qualified. The AI Age might be here, but solid business principles don't change as a result.
"The Garry Steel" love that he gets a definite article.
oh come on, if you want job stability go work for the govt
there has never been stability in tech, but at least in the past it was relatively easy to find a new role somewhere
I'm amazed that more young people aren't recognizing the high risk of working at a large corporation (in any industry)...you are literally a piece of Lego to be snapped off without notice
take your tuition money and open two laundromats
Welcome to AI age.