Just hot off the press. Q2 guidance not looking good.
Expect a headcount cut of up to 5% or more to make up for the revenue short fall.
Confidential reliable rumors are predicting an even deeper cut, up to 12% will be shown the door.
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Chuck's birthday is on Dec 12th. If 60% of all Cisco sends him a birthday card and ask him to put off the LR for another 12 months, he might agree. You don't have to send a physical b-day card, you use an electronic one from online. Yeah, is this not a fantastic idea?
Uh oh... it almost looks like Kelly has run out of Spin doe how badly chuck is running things. Dark days my friends.
Yes now you all are safe ...
No cut so far, looks like we in the clear.
20%, not 5% or 12% or 30%
I have one friend who drank the kool-aid and has been there for a few months now. Another recently drank it and got an offer from them (I'm guessing he'll accept it, like the good boy he is). I don't know why they would want to work at a place where people are on pins and needles about layoffs.
Next week things will start to roll. My mgr gave me a heads up that even he himself is in panic mode.
There was one year that was missed... FY18 I think.
This makes 11 years in a row of layoffs. Used car salesmen should not lead a technology company.
Oh, geez!
Merry Christmas!
Bah Humbug!
Let us know how those 1 on 1s go. Having worked in the valley for way too long, doing layoffs right before the holidays is a very bad sign.
According to SEC filings, the ELT sold more than 60K shares on 10th Nov .... a few days before the earnings call and the big drop in the share price. Isn't this trading on insider knowledge?
our stock is down 7% today. chuck is going to take it out on us.
“hope after Christmas”?
Management will act quickly I think. They need to show lower operating costs by next earning call. I expect 20% reduction in workforce. The situation looks grim.
I have a 1x1 with my boss and boss's boss. I see I'm not the only one.
“Hope they do after Christmas”?
One thing management is very quick is to clean up house. Either they do it quickly or shareholders will walk away from investing further. Just wait at least 20% workforce reduction before next earning call. Folks, the situation is looking really bad. Do you realize other companies are growing double digits. Microsoft got a US$10B contract days ago.
I would much rather take a pay cut and a bonus cut than to lose any more people on my team.
We’re cut to the bones.
Sincerely,
A Concerned Cisco Director
You are just a number. The algorithm started in 2014 and keeps churning.
I predict a major layoff. No questikns about it.
On the earnings call, one analyst compared it to the results in 2017 (that was my year to be involuntary freed from the toxic environment). The analysis pointed out it was 5 bad quarters before recovery.
Yeah, I would anticipate a higher than average bloodletting for this round.
Got a 1:1 invite from 2nd line mgr for Thur here in SJC. Anyone else got one?
Well, the stock price equates to the net present value of all expected future earnings, divided by outstanding shares. If you announce that you think you are not going to grow on the trajectory the market has built into your current share price, your stock price drops as does your total valuation.
A minus 2 to minus 5 growth range for Q2 equates to less earnings than the market anticipated, impacting the stock price.
Can someone explain to us non Wall Street folks how Cisco has lost 5 percent in after hours trading today after the earnings announcement?
Q1 Results:
Revenue: $13.2 billion, Growth of 2% year over year
Earnings per Share: GAAP: $0.68; Non-GAAP: $0.84
Non-GAAP EPS increased 12% year over year
Q2 Guidance:
Revenue: (3)% to (5)% decline year over year
Earnings per Share: GAAP: $0.61 to $0.67; Non-GAAP: $0.75 to $0.77
it is gonna be a bloodbath. hope they do it after the xmas