Will it be spread across 2 quarters, and also include Splunk headcount ? Splunk has 8k headcount.
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The Splunk acquisition hasn't been completed & they already did their own layoffs.
New acquisitions are safe for two years. Standard procedure. Afterwards, all bets are off.
Splunk's time will come. Tomorrow is promised to no one at Cisco.
with revenues going down very fast cisco has no choice to get employee headcount down to 50,000 quickly to keep stock from tanking
No, Splunk is not merged yet. Which means that there will be more LRs going forward this year in order to accommodate the Splunk people. This LR is just because of bad business which shows no signs or ways of improving anytime soon.
And this LR was forecasted back in Dec 2023 on this site, leaked from the UKI market, when the SSE director had asked for lists to be made.
Hey @adt+1r2VfRe5 - they pre- fire employees to accommodate. Stop making d-mb comments. Unless you are ELT.
How can Cisco layoff folks that aren't Cisco employees yet? Do people even think before asking questions here?
Run-of-the-mill.
@smr+1r2VfRe5 This is correct. The acquisition hasn’t closed yet, and is still pending approval from the EU. Something interesting to note about Cisco is they ALWAYS take OpEx out of hide when they make an acquisition. If they bring in 6K new employees that means an existing 6K in the company will ultimately be eliminated. It’s their business model and it’s been this way for years.
I don't think the Splunk acquisition has closed yet. I could be wrong. It could fall thru as well or go thru. But this LR is likely too large to even consider Splunk. But rest assured if and when the deal closes and approved, there will be another LR specifically for it. Towards end of FY24