Have you heard anything about potential Cisco layoffs? Any chatter, news or rumors?
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does freshers an interns are effected through this lay off for converting the full time?
@Lrix+1qk1A8G9 sorry to hear, good luck to you There will be many more of us
I just lost my job. The only one on my team to get cut. I was in Cisco Capital Operations supporting sales. I was in my for eight years
Chuck has to pay for all those DEI initiatives, Oprah interviews, missed AI opportunities, social justice causes and funding those executive egos so they can continue to pretend they are celebrities -- you know what a software and hardware company normally do.
Considering the average software engineer there is a net negative moving more money away from those people means fewer bugs for the rest to fix. And before the id--t monkeys pretend this is something new, the quality of Cisco's software has been extremely poor for the past 30 years.
Until you can stabilize four broken operating systems and come up with common CLIs and APIs like Arista did to make management easier taking on something completely different like AI without even specifying what kind of business problems you will solve with it was never in the cards. Cisco failed completely 30 years ago and while they've done more than anyone could have hoped with the acquisitions they never had competent technical and managerial leadership to truly integrate them. The cost of all that is coming due.
It will start tonight.
5% reduction confirmed, anyone know when the notifications go out?
Q2 Earnings indicates a 5% workforce reduction.
take your leadership back, we don’t need them
Numerous articles have been posted within the last hour. Here is one:
https://www.marketwatch.com/story/cisco-to-lay-off-thousands-in-restructuring-report-6790d03e
This one cites the very one from Reuters and does not provide any further information. It's a "D".
i would buy cisco options for 55C because stock will go up when layoffs are announced. afterall CR needs the cash as he destroys lives of 10-15k employees and still sleeps well at night. then ofcourse cue the pity tears att he all hands where all execs talk about big happy family
They should cut Splunk employees and keep existing Cisco employees.
Will Sales and Ops be affected or engineers and AI development staff?
Numerous articles have been posted within the last hour. Here is one:
https://www.marketwatch.com/story/cisco-to-lay-off-thousands-in-restructuring-report-6790d03e
None of the people posting here have any idea what will happen, that is 100% accurate. Cisco does however have a solid reputation for laying off people over the years so I understand why it happens. Look at the latest interview of chuck on CNBC and you will see even he admits at the end AI is NOT as far along as everyone thinks. With that said, I would not be surprised to see layoffs since the NASDAQ is on par with what happened during DOT.COM Bubble. Just replace WEB with AI and you can easily see there is a big pop coming soon.
Yes, LR confirmed to be announced during 02/14 earning call. Each part of the company will see a different impact from 5-10% reduction depending on organization.
Chuck has to pay for all those DEI initiatives, Oprah interviews, missed AI opportunities, social justice causes and funding those executive egos so they can continue to pretend they are celebrities -- you know what a software and hardware company normally do.
They also claimed only 350 in California would be laid off back in October yet my entire team (none in California, and not in sale) were laid off quietly from SBG. No one heard about it unless they worked directly with us. Cisco being sneaky!
People are being laid off or contracts are not beeing renewed. People are being replaced by cheeper resources
Announcement date: 02/14/2024 +1d
Have any notices gone out for Q2 ? There are 2 weeks left
Do they plan on doing ER's ?
An ER is a way to pay big time to move your best people to your competitors. Cisco almost figured that out the first time, then they forgot and made the same mistake again, and now seem to have finally learned.
Do they plan on doing ER's ?
LR of 10K end of Q2 and 10K end of Q3 - 20K Total
I recently heard AI will replace many software jobs. Is Cisco investing in AI technology?
I'm just giggling at the thought of an AI that was trained on Cisco's code bases 🤣
I recently heard AI will replace many software jobs. Is Cisco investing in AI technology?
Yes -- Announcement during quarterly call... mid Feb with notifications going out the next day.... Expecting 10% across the board.
The Nintendo boy,I want a game console,can you recommend it?
My dad works at Nintendo and he told me that all blue badges will be forced to take February through June off.
He's a pretty reliable source, so I hope you have some PTO saved up.
every year the same sh-t happens in cisco, nothing new here. but effect of layoff is good most of the time as layed off folks get a better area and better package than at cisco
Next time you are on a WebEx with 8 attendees, you can be sure that at least 2 of them will be LR'd in 2024
Hey y'all. Don't worry, Chuck our saviour is at the helm, ably assisted by the genius MM and Fran. As he told us 700 times last year, he is a math major, so he and that genius pair have a handle on all this ;). Even Oprah may offer a few words of wisdom as well and help us all out to perfect the already simple licensing, great TAC and product quality with the brilliant partners we have. We got this made!
SW renewals will not match market expectation for a “SW company”. 10-20% will be gone over a series of LRs...
Given that Cisco was spending most of their development budget on bug fixing losing the right 10-20% and more of "developers" would be a net win for everyone else.
Note it's not the deadwood checking in all those bugs, it's the ones who look good by dashboards which don't measure the right things.
You'd also have to replace almost the entirety of software management up through the executive levels which allowed it to get this bad.
Count on 20,000 layoffs in calendar year 2024 to make room for Splunk employees and account for declining revenues
There will be LR like never before in 2024 when CR “restructures to prioritise growth areas”. SW renewals will not match market expectation for a “SW company”. 10-20% will be gone over a series of LRs and the remaining folks will have to pick up the load and the bigger number and be exposed to increasingly larger goals and cost cutting. As someone else said, this will start shortly after H1 ends.
Chuck has to clear the deck for all of the OPEX he acquired with Splunk. A layoff is a certainty.
Haha this stupid website is the worst place for accurate predictions. 😆
I got 1:1 meeting invite with mgr for Tue even though it's shutdown week. what tf
There’ll be a huge restructure announced after H1 results. Confidence factor 99.9%.
no