Posts mentioning hashtag #layoffs

Below are all the posts — topics as well as replies — that mention the hashtag #layoffs.

Mention #layoffs in your post to continue the discussion!


The script for today's checkin

  • ELT discussed the 5% LR that was shared on the Earnings Call. Per ELT, it is not about cost-cutting or performance management, rather rebalancing the business.
  • Impacted employees will be notified beginning December 12 in the US and will have prioritization for job placement services.
  • Impacted employees will have option to exit Cisco first week of February or March 13 and will receive the same amount of severance whether they leave in Feb or Mar. No early retirement option at this time.
  • There will be a generous severance package offered in all locations globally. For US, 6 months pay package plus tenure will be factored in.
  • Not all company organizations are impacted. Not all those contacted by Talent Movement are impacted.
  • Talent Movement only resulted in a couple hundred moves, which was not enough for rebalancing.
  • Leaders will receive a support guide for reference after the Leader Check-in. They will also be invited to training prior to the relevant notification dates if they have impacted employees on their team.
  • Impacted employees will be notified by a leader within their team. Those leaders will be identified and made aware of their role in this process in the early December timeframe.
  • No hiring freeze at this time. There are over 3000 open job requisitions, and Cisco‘s goal is to place as many impacted employees as possible, in those roles.
  • Impacted business units include Collab, AppDynamics and others

#cisco #layoffs

Oracle Laying Off More Employees

Oracle is laying off additional employees just months after a round of layoffs led to “complete chaos.”

Companies large and small have been slashing spending, freezing hiring, and laying off workers amid the worst economic downturn in years. Oracle is among those companies, engaging in another round of layoffs, according to Business Insider.

Unlike its previous round of layoffs, this round is unannounced. As a result, there’s no indication how many employees will ultimately be impacted. Some employees are reportedly being told they have until October 31 to secure a new role within the company, while others are being told their employee will be terminated the following Monday.

Jeremiah Cundiff, Cloud Technology Consultant at Oracle, is one such employee that appears to be in the latter group. Cundiff posted the news on LinkedIn:

There have been posts regarding #layoffs at #oracle. Unfortunately I got my call this morning that I’ve been included. I aim to remain in tech sales either in business development or as an account executive.

Phoebe Wall Howard just posted this on Twitter:

THREAD: Bill @Ford met with a scrum of reporters after the automaker’s City of Tomorrow symposium in Los Angeles. When asked about recent #layoffs he said, "It’s the worst thing any executive ever has to do. I hate it, personally. I always have." (1/4) via @ChrisWoodyard @freep

(2/4) "I know the employees. I know their families, in many cases." He continued, "We’ve been on a roll economically for quite a while. If you’ve covered this industry a long time, you know recession may be looming out there. We just had to get ourselves in fighting shape.”

(3/4) “If we are serious about being a lean nimble company, we have to really become that. I hate it, it’s very painful, but we had to do it. There will always be frustration anytime you are affecting people’s careers. But we took great care with it."

(4/4) “So the push-back is ‘Why did you drag it out so long?’ But the reason we did that is to take the proper care.”

They only announce big layoffs when the do the figures if the #layoffs they are planning need to be announced i.e. they are substantial enough to affect the earnings call. So if they do dribs and drabs over the year they don't need to announce them.

I suspect this is the way forward from now on. Lots of little LRs where there isn't a legal requirement to announce them.

By the way, most big companies are continually doing this.