8% cut announced, this is the third year in the row. 6,000 gone. Chambers still around, what a retard, I am not sure what he did for us except he put hundreds of millions in his own pocket. Cisco got no value out of him. 4,000 cuts last August, 1,300 layoffs in 2012 and 6,500 jobs in July 2011.
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Yes competency has zero value at Fiasco Systems. It's all about the relationships.
The jobs cuts are not based on performance rather than the relationship you have with your manager and immediate bosses. Being in sales for more than 5 years, always exceeded goals and was acknowledged YoY. Over the years i have seen employees who perform are given the axe, whilst there some who continue to remain, despite having nothing to do. I know of favorites who contributed literally nothing, still remained whilst teams that performed bringing in the money were gone.
John Chambers needs to go and along with him the Grim Reaper Gary Moore.
Looks like 6000 more employees turned 50 this year!
only 6000.. not too bad
Cutting long term employees is the new way to turn big profits. For every long term employee you manage out you can hire a new employee at a steep pay cut and not actually have a reduction in headcount. Consider a cut of 6,000 employees making $100k each and the net pump to cash on-hand is 600 million dollars which can be used to buy back stock and thus position the company for record high growth over time even though it comes at the expense of the employees that make the technology. it's about profit and not about people. The dirty underbelly of corporate America.