Ok, Cisco just axed 9%. Our stock is down over 20% in the last month.
I think we cut 4% in February. What say you?
4 replies (most recent on top)
Uh this is ‘thelayoff.com.’ Surely you’ll grant me permission to speculate about layoffs.
I am ex-Juniper. Now work at Cisco. I can confirm that Cisco has axed many more than 9% quoted by OP. The rolling layoffs started back in Fall 2019, was halted for about 6 odd months (even some employees were LR-ed sporadically even during the lockdowns) and in August they announced a massive combination of forced retirement (already has happened in October to many including several Distinguished Engineers, Sr. Directors, VPs and common mass) in some countries + layoffs happening now in some other countries.
To top it all, Cisco's 12 month financial "year" has now also been reduced to 6 months. So, the layoffs, for the next foreseeable future, is expected to be more frequent and brutal.
Cisco is trying to drastically change its business model which it has been advertising to do for several years now but have not really succeeded. They are a bit late to the software and cloud party and all of a sudden find themselves in a tailspin. However, good news is they are trying to change, bad news is letting go of people to do so is likely not the best way forward - I know several very good people who have already left due to the continual stress of layoffs. I have started to look around myself.
In some cases directors called entire teams of 22-23 people on webex calls and fired them all, over in 10 min. Couple of hours later, the same directors received a call from their VPs and got fired themselves. Karma. This is not a joke or made up story. It's true.
OP's figures are somewhat correct that they already have laid off approx. 9% as of September-October 2020. But the total figure is much larger. When the process stops we expect to have lost at least 12.5% by mid-November to early December. The work force of 75000 is rumored to get reduced to 60% by mid-2021.
Run for the cloud! If you guys are thinking for coming over to Cisco then you are safe for about 2 years - as per Cisco policy they do not usually lay people off within the first 2 years, although there have been exceptions. After that, all bets are off. Cisco is going the Nortel way. There is no technical leadership at the top.
Can you share where you got the news about cisco layoffs?
a=b, c=d so a=d? @op what do you think about this.
Why always negative? Negative speculation are not. Everyone is having a stressful year stop creating more stress.