Ciena is one of the companies that frequently goes through regular cycles of mass layoffs, reorg and outsourcing. Heavy overtime is to be expected, software in particular is abused a lot and opportunities for advancement and growth/learning new technologies are very small. Software engineers can do much better at many other places. Software engineering management jobs are probably the worse, management at Ciena is insanely political - much more than at other places where I worked; managers are expected to ride staff hard, burn 'em out quickly, and then lay them off. Avoid Ciena at all costs.
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hemorrhaging money - hahaha, we make money.
Please develop some respect for staff. Stop rewarding so-called leaders for hemorrhaging money. Take back Ciena to its core competence: communications technology development. Use your experienced staff to develop new products instead of buying companies that are losing money and then putting them in charge of the company.