Sadly I believe the 1100 layoffs this month is just the appetizer and the main course will be in August, as usual.
There have been comments that Cisco was appending these 1100 to last August's 5500 in order to keep it within the fiscal year (and possibly none in FY18) but the financial numbers are not indicating anything other than further layoffs ahead.
The market is clearly not happy and stock prices continue to fall following the earnings and have fallen again after the initial 8% drop.
Aim is to have it done and dusted before the end of FY17 - so end of July. That may be difficult in Europe as employment laws are more difficult to circumvent.
1100 people LR is already done (in May/2017) or will/should be completed before July 31st? Any idea?
it was 1100 + 1600 Sales World wide. The UCS Server business is to now provide a product with half the resources in all areas of development
Huh? It's about what's coming, not what has been. Given the current guidance and the loss of margins, it's clear they are now putting together another 6-8% cut.
5500 last august + 1100 this may = 6600
How is this new?
I just saw this which i thought was older but it has a 5/18/17 date...
http://www.datacenterknowledge.com/archives/2017/05/18/cisco-ups-layoffs-to-6600-after-big-forecast-miss/
Agree. Not enough with guidance given. Rough waters ahead.